ZIP 46166 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 46166 in the Owen County, IN FMR area.

Owen County, IN

$1,000Efficiency
$1,1201 bedroom
$1,2802 bedrooms
$1,6503 bedrooms
$2,0304 bedrooms

Payment standard range

Unit sizeSAFMR90%110%Metro FMR
Efficiency$1,000$900$1,100$818
1 bedroom$1,120$1,008$1,232$914
2 bedrooms$1,280$1,152$1,408$1,014
3 bedrooms$1,650$1,485$1,815$1,244
4 bedrooms$2,030$1,827$2,233$1,606

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

Indianapolis-Carmel, IN

$1,000Efficiency
$1,1201 bedroom
$1,2802 bedrooms
$1,6503 bedrooms
$2,0304 bedrooms

Payment standard range

Unit sizeSAFMR90%110%Metro FMR
Efficiency$1,000$900$1,100$1,187
1 bedroom$1,120$1,008$1,232$1,336
2 bedrooms$1,280$1,152$1,408$1,536
3 bedrooms$1,650$1,485$1,815$1,991
4 bedrooms$2,030$1,827$2,233$2,425

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

Income in ZIP 46166

$59,515average adjusted gross income per tax return (2022)
$45,554average salaries and wages per return
1,100tax returns filed
26%of average income for a 2-bedroom SAFMR
Adjusted gross incomeShare of returns
$1 to $25,00029.1%
$25,000 to $50,00024.5%
$50,000 to $75,00017.3%
$75,000 to $100,00011.8%
$100,000 to $200,00015.5%
$200,000 or more1.8%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 14.5% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 46166?

HUD's FY2027 Small Area FMRs for ZIP 46166 (Owen County, IN) are $1,000 efficiency, $1,120 one bedroom, $1,280 two bedrooms, $1,650 three and $2,030 four bedrooms.

What payment standard can a housing authority set in ZIP 46166?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $1,152 to $1,408.

How affordable is rent in ZIP 46166?

Tax returns filed from ZIP 46166 reported an average adjusted gross income of $59,515 (2022). A two-bedroom unit at the Small Area FMR costs $15,360 a year, or 26% of that income.