ZIP 46140 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 46140 in the Indianapolis-Carmel, IN FMR area.

Indianapolis-Carmel, IN

$1,100Efficiency
$1,2401 bedroom
$1,4302 bedrooms
$1,8503 bedrooms
$2,2604 bedrooms

Payment standard range

Unit sizeSAFMR90%110%Metro FMR
Efficiency$1,100$990$1,210$1,187
1 bedroom$1,240$1,116$1,364$1,336
2 bedrooms$1,430$1,287$1,573$1,536
3 bedrooms$1,850$1,665$2,035$1,991
4 bedrooms$2,260$2,034$2,486$2,425

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

Rush County, IN

$1,100Efficiency
$1,2401 bedroom
$1,4302 bedrooms
$1,8503 bedrooms
$2,2604 bedrooms

Payment standard range

Unit sizeSAFMR90%110%Metro FMR
Efficiency$1,100$990$1,210$759
1 bedroom$1,240$1,116$1,364$786
2 bedrooms$1,430$1,287$1,573$1,014
3 bedrooms$1,850$1,665$2,035$1,208
4 bedrooms$2,260$2,034$2,486$1,333

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

Income in ZIP 46140

$78,042average adjusted gross income per tax return (2022)
$55,465average salaries and wages per return
21,500tax returns filed
22%of average income for a 2-bedroom SAFMR
Adjusted gross incomeShare of returns
$1 to $25,00025.6%
$25,000 to $50,00021.7%
$50,000 to $75,00016.4%
$75,000 to $100,00011.3%
$100,000 to $200,00020.0%
$200,000 or more5.1%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 10.4% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 46140?

HUD's FY2027 Small Area FMRs for ZIP 46140 (Indianapolis-Carmel, IN) are $1,100 efficiency, $1,240 one bedroom, $1,430 two bedrooms, $1,850 three and $2,260 four bedrooms.

What payment standard can a housing authority set in ZIP 46140?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $1,287 to $1,573.

How affordable is rent in ZIP 46140?

Tax returns filed from ZIP 46140 reported an average adjusted gross income of $78,042 (2022). A two-bedroom unit at the Small Area FMR costs $17,160 a year, or 22% of that income.