ZIP 46165 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 46165 in the Indianapolis-Carmel, IN FMR area.

Indianapolis-Carmel, IN

$1,590Efficiency
$1,7901 bedroom
$2,0702 bedrooms
$2,7003 bedrooms
$3,2804 bedrooms

Payment standard range

Unit sizeSAFMR90%110%Metro FMR
Efficiency$1,590$1,431$1,749$1,187
1 bedroom$1,790$1,611$1,969$1,336
2 bedrooms$2,070$1,863$2,277$1,536
3 bedrooms$2,700$2,430$2,970$1,991
4 bedrooms$3,280$2,952$3,608$2,425

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

Putnam County, IN

$1,590Efficiency
$1,7901 bedroom
$2,0702 bedrooms
$2,7003 bedrooms
$3,2804 bedrooms

Payment standard range

Unit sizeSAFMR90%110%Metro FMR
Efficiency$1,590$1,431$1,749$790
1 bedroom$1,790$1,611$1,969$905
2 bedrooms$2,070$1,863$2,277$1,056
3 bedrooms$2,700$2,430$2,970$1,462
4 bedrooms$3,280$2,952$3,608$1,742

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

Income in ZIP 46165

$95,577average adjusted gross income per tax return (2022)
$57,145average salaries and wages per return
730tax returns filed
26%of average income for a 2-bedroom SAFMR
Adjusted gross incomeShare of returns
$1 to $25,00026.0%
$25,000 to $50,00020.5%
$50,000 to $75,00016.4%
$75,000 to $100,00012.3%
$100,000 to $200,00017.8%
$200,000 or more6.8%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 6.8% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 46165?

HUD's FY2027 Small Area FMRs for ZIP 46165 (Indianapolis-Carmel, IN) are $1,590 efficiency, $1,790 one bedroom, $2,070 two bedrooms, $2,700 three and $3,280 four bedrooms.

What payment standard can a housing authority set in ZIP 46165?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $1,863 to $2,277.

How affordable is rent in ZIP 46165?

Tax returns filed from ZIP 46165 reported an average adjusted gross income of $95,577 (2022). A two-bedroom unit at the Small Area FMR costs $24,840 a year, or 26% of that income.