ZIP 46069 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 46069 in the Indianapolis-Carmel, IN FMR area.

Indianapolis-Carmel, IN

$860Efficiency

$9701 bedroom

$1,1202 bedrooms

$1,4503 bedrooms

$1,7604 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$860	$774	$946	$1,187
1 bedroom	$970	$873	$1,067	$1,336
2 bedrooms	$1,120	$1,008	$1,232	$1,536
3 bedrooms	$1,450	$1,305	$1,595	$1,991
4 bedrooms	$1,760	$1,584	$1,936	$2,425

Housing authorities may set voucher payment standards from 90% to 110% of the FMR that applies to them.

Tipton County, IN

$860Efficiency

$9701 bedroom

$1,1202 bedrooms

$1,4503 bedrooms

$1,7604 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$860	$774	$946	$941
1 bedroom	$970	$873	$1,067	$947
2 bedrooms	$1,120	$1,008	$1,232	$1,239
3 bedrooms	$1,450	$1,305	$1,595	$1,476
4 bedrooms	$1,760	$1,584	$1,936	$1,628

Housing authorities may set voucher payment standards from 90% to 110% of the FMR that applies to them.

Clinton County, IN

$860Efficiency

$9701 bedroom

$1,1202 bedrooms

$1,4503 bedrooms

$1,7604 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$860	$774	$946	$850
1 bedroom	$970	$873	$1,067	$855
2 bedrooms	$1,120	$1,008	$1,232	$1,063
3 bedrooms	$1,450	$1,305	$1,595	$1,416
4 bedrooms	$1,760	$1,584	$1,936	$1,445

Housing authorities may set voucher payment standards from 90% to 110% of the FMR that applies to them.

Income in ZIP 46069

$85,514average adjusted gross income per tax return (2022)

$57,867average salaries and wages per return

3,650tax returns filed

16%of average income for a 2-bedroom SAFMR

Adjusted gross income	Share of returns
$1 to $25,000	25.5%
$25,000 to $50,000	21.4%
$50,000 to $75,000	16.4%
$75,000 to $100,000	12.1%
$100,000 to $200,000	18.4%
$200,000 or more	6.3%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 11.0% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 46069?

HUD's FY2027 Small Area FMRs for ZIP 46069 (Indianapolis-Carmel, IN) are $860 efficiency, $970 one bedroom, $1,120 two bedrooms, $1,450 three and $1,760 four bedrooms.

What payment standard can a housing authority set in ZIP 46069?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $1,008 to $1,232.

How affordable is rent in ZIP 46069?

Tax returns filed from ZIP 46069 reported an average adjusted gross income of $85,514 (2022). A two-bedroom unit at the Small Area FMR costs $13,440 a year, or 16% of that income.