ZIP 46186 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 46186 in the Indianapolis-Carmel, IN FMR area.

Indianapolis-Carmel, IN

$1,080Efficiency
$1,1401 bedroom
$1,4102 bedrooms
$1,8103 bedrooms
$2,0204 bedrooms

Payment standard range

Unit sizeSAFMR90%110%Metro FMR
Efficiency$1,080$972$1,188$1,187
1 bedroom$1,140$1,026$1,254$1,336
2 bedrooms$1,410$1,269$1,551$1,536
3 bedrooms$1,810$1,629$1,991$1,991
4 bedrooms$2,020$1,818$2,222$2,425

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

Henry County, IN

$1,080Efficiency
$1,1401 bedroom
$1,4102 bedrooms
$1,8103 bedrooms
$2,0204 bedrooms

Payment standard range

Unit sizeSAFMR90%110%Metro FMR
Efficiency$1,080$972$1,188$805
1 bedroom$1,140$1,026$1,254$810
2 bedrooms$1,410$1,269$1,551$1,014
3 bedrooms$1,810$1,629$1,991$1,208
4 bedrooms$2,020$1,818$2,222$1,333

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

Income in ZIP 46186

$77,096average adjusted gross income per tax return (2022)
$56,281average salaries and wages per return
830tax returns filed
22%of average income for a 2-bedroom SAFMR
Adjusted gross incomeShare of returns
$1 to $25,00022.9%
$25,000 to $50,00024.1%
$50,000 to $75,00014.5%
$75,000 to $100,00014.5%
$100,000 to $200,00019.3%
$200,000 or more4.8%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 10.8% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 46186?

HUD's FY2027 Small Area FMRs for ZIP 46186 (Indianapolis-Carmel, IN) are $1,080 efficiency, $1,140 one bedroom, $1,410 two bedrooms, $1,810 three and $2,020 four bedrooms.

What payment standard can a housing authority set in ZIP 46186?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $1,269 to $1,551.

How affordable is rent in ZIP 46186?

Tax returns filed from ZIP 46186 reported an average adjusted gross income of $77,096 (2022). A two-bedroom unit at the Small Area FMR costs $16,920 a year, or 22% of that income.