ZIP 46254 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 46254 in the Indianapolis-Carmel, IN FMR area.

$1,060Efficiency
$1,1901 bedroom
$1,3702 bedrooms
$1,7803 bedrooms
$2,1604 bedrooms

Payment standard range

Unit sizeSAFMR90%110%Metro FMR
Efficiency$1,060$954$1,166$1,187
1 bedroom$1,190$1,071$1,309$1,336
2 bedrooms$1,370$1,233$1,507$1,536
3 bedrooms$1,780$1,602$1,958$1,991
4 bedrooms$2,160$1,944$2,376$2,425

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

Income in ZIP 46254

$48,965average adjusted gross income per tax return (2022)
$41,317average salaries and wages per return
19,290tax returns filed
34%of average income for a 2-bedroom SAFMR
Adjusted gross incomeShare of returns
$1 to $25,00033.1%
$25,000 to $50,00032.3%
$50,000 to $75,00018.0%
$75,000 to $100,0007.7%
$100,000 to $200,0007.3%
$200,000 or more1.7%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 25.2% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 46254?

HUD's FY2027 Small Area FMRs for ZIP 46254 (Indianapolis-Carmel, IN) are $1,060 efficiency, $1,190 one bedroom, $1,370 two bedrooms, $1,780 three and $2,160 four bedrooms.

What payment standard can a housing authority set in ZIP 46254?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $1,233 to $1,507.

How affordable is rent in ZIP 46254?

Tax returns filed from ZIP 46254 reported an average adjusted gross income of $48,965 (2022). A two-bedroom unit at the Small Area FMR costs $16,440 a year, or 34% of that income.