ZIP 46120 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 46120 in the Owen County, IN FMR area.

Owen County, IN

$760Efficiency

$8701 bedroom

$1,0102 bedrooms

$1,4003 bedrooms

$1,6704 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$760	$684	$836	$818
1 bedroom	$870	$783	$957	$914
2 bedrooms	$1,010	$909	$1,111	$1,014
3 bedrooms	$1,400	$1,260	$1,540	$1,244
4 bedrooms	$1,670	$1,503	$1,837	$1,606

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

Indianapolis-Carmel, IN

$760Efficiency

$8701 bedroom

$1,0102 bedrooms

$1,4003 bedrooms

$1,6704 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$760	$684	$836	$1,187
1 bedroom	$870	$783	$957	$1,336
2 bedrooms	$1,010	$909	$1,111	$1,536
3 bedrooms	$1,400	$1,260	$1,540	$1,991
4 bedrooms	$1,670	$1,503	$1,837	$2,425

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

Putnam County, IN

$760Efficiency

$8701 bedroom

$1,0102 bedrooms

$1,4003 bedrooms

$1,6704 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$760	$684	$836	$790
1 bedroom	$870	$783	$957	$905
2 bedrooms	$1,010	$909	$1,111	$1,056
3 bedrooms	$1,400	$1,260	$1,540	$1,462
4 bedrooms	$1,670	$1,503	$1,837	$1,742

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

Income in ZIP 46120

$67,666average adjusted gross income per tax return (2022)

$48,468average salaries and wages per return

2,880tax returns filed

18%of average income for a 2-bedroom SAFMR

Adjusted gross income	Share of returns
$1 to $25,000	28.8%
$25,000 to $50,000	22.9%
$50,000 to $75,000	16.0%
$75,000 to $100,000	11.5%
$100,000 to $200,000	17.4%
$200,000 or more	3.5%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 14.6% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 46120?

HUD's FY2027 Small Area FMRs for ZIP 46120 (Owen County, IN) are $760 efficiency, $870 one bedroom, $1,010 two bedrooms, $1,400 three and $1,670 four bedrooms.

What payment standard can a housing authority set in ZIP 46120?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $909 to $1,111.

How affordable is rent in ZIP 46120?

Tax returns filed from ZIP 46120 reported an average adjusted gross income of $67,666 (2022). A two-bedroom unit at the Small Area FMR costs $12,120 a year, or 18% of that income.