ZIP 46241 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 46241 in the Indianapolis-Carmel, IN FMR area.

$1,140Efficiency
$1,2901 bedroom
$1,4802 bedrooms
$1,9203 bedrooms
$2,3404 bedrooms

Payment standard range

Unit sizeSAFMR90%110%Metro FMR
Efficiency$1,140$1,026$1,254$1,187
1 bedroom$1,290$1,161$1,419$1,336
2 bedrooms$1,480$1,332$1,628$1,536
3 bedrooms$1,920$1,728$2,112$1,991
4 bedrooms$2,340$2,106$2,574$2,425

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

Income in ZIP 46241

$40,493average adjusted gross income per tax return (2022)
$33,815average salaries and wages per return
14,190tax returns filed
44%of average income for a 2-bedroom SAFMR
Adjusted gross incomeShare of returns
$1 to $25,00038.6%
$25,000 to $50,00033.8%
$50,000 to $75,00015.5%
$75,000 to $100,0006.6%
$100,000 to $200,0005.0%
$200,000 or more0.4%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 29.0% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 46241?

HUD's FY2027 Small Area FMRs for ZIP 46241 (Indianapolis-Carmel, IN) are $1,140 efficiency, $1,290 one bedroom, $1,480 two bedrooms, $1,920 three and $2,340 four bedrooms.

What payment standard can a housing authority set in ZIP 46241?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $1,332 to $1,628.

How affordable is rent in ZIP 46241?

Tax returns filed from ZIP 46241 reported an average adjusted gross income of $40,493 (2022). A two-bedroom unit at the Small Area FMR costs $17,760 a year, or 44% of that income.