ZIP 46148 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 46148 in the Indianapolis-Carmel, IN FMR area.

Indianapolis-Carmel, IN

$870Efficiency

$8801 bedroom

$1,1102 bedrooms

$1,3203 bedrooms

$1,5604 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$870	$783	$957	$1,187
1 bedroom	$880	$792	$968	$1,336
2 bedrooms	$1,110	$999	$1,221	$1,536
3 bedrooms	$1,320	$1,188	$1,452	$1,991
4 bedrooms	$1,560	$1,404	$1,716	$2,425

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

Henry County, IN

$870Efficiency

$8801 bedroom

$1,1102 bedrooms

$1,3203 bedrooms

$1,5604 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$870	$783	$957	$805
1 bedroom	$880	$792	$968	$810
2 bedrooms	$1,110	$999	$1,221	$1,014
3 bedrooms	$1,320	$1,188	$1,452	$1,208
4 bedrooms	$1,560	$1,404	$1,716	$1,333

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

Rush County, IN

$870Efficiency

$8801 bedroom

$1,1102 bedrooms

$1,3203 bedrooms

$1,5604 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$870	$783	$957	$759
1 bedroom	$880	$792	$968	$786
2 bedrooms	$1,110	$999	$1,221	$1,014
3 bedrooms	$1,320	$1,188	$1,452	$1,208
4 bedrooms	$1,560	$1,404	$1,716	$1,333

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

Income in ZIP 46148

$65,429average adjusted gross income per tax return (2022)

$47,898average salaries and wages per return

2,370tax returns filed

20%of average income for a 2-bedroom SAFMR

Adjusted gross income	Share of returns
$1 to $25,000	29.5%
$25,000 to $50,000	23.6%
$50,000 to $75,000	14.8%
$75,000 to $100,000	11.0%
$100,000 to $200,000	17.7%
$200,000 or more	3.4%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 12.7% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 46148?

HUD's FY2027 Small Area FMRs for ZIP 46148 (Indianapolis-Carmel, IN) are $870 efficiency, $880 one bedroom, $1,110 two bedrooms, $1,320 three and $1,560 four bedrooms.

What payment standard can a housing authority set in ZIP 46148?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $999 to $1,221.

How affordable is rent in ZIP 46148?

Tax returns filed from ZIP 46148 reported an average adjusted gross income of $65,429 (2022). A two-bedroom unit at the Small Area FMR costs $13,320 a year, or 20% of that income.