ZIP 46348 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 46348 in the Gary, IN FMR area.

Gary, IN

$1,050Efficiency
$1,1301 bedroom
$1,3602 bedrooms
$1,6703 bedrooms
$1,9204 bedrooms

Payment standard range

Unit sizeSAFMR90%110%Metro FMR
Efficiency$1,050$945$1,155$1,117
1 bedroom$1,130$1,017$1,243$1,176
2 bedrooms$1,360$1,224$1,496$1,429
3 bedrooms$1,670$1,503$1,837$1,739
4 bedrooms$1,920$1,728$2,112$1,898

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

Michigan City-La Porte, IN MSA

$1,050Efficiency
$1,1301 bedroom
$1,3602 bedrooms
$1,6703 bedrooms
$1,9204 bedrooms

Payment standard range

Unit sizeSAFMR90%110%Metro FMR
Efficiency$1,050$945$1,155$963
1 bedroom$1,130$1,017$1,243$1,031
2 bedrooms$1,360$1,224$1,496$1,245
3 bedrooms$1,670$1,503$1,837$1,525
4 bedrooms$1,920$1,728$2,112$1,762

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

Income in ZIP 46348

$72,863average adjusted gross income per tax return (2022)
$47,606average salaries and wages per return
510tax returns filed
22%of average income for a 2-bedroom SAFMR
Adjusted gross incomeShare of returns
$1 to $25,00025.5%
$25,000 to $50,00023.5%
$50,000 to $75,00015.7%
$75,000 to $100,00013.7%
$100,000 to $200,00017.6%
$200,000 or more3.9%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 11.8% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 46348?

HUD's FY2027 Small Area FMRs for ZIP 46348 (Gary, IN) are $1,050 efficiency, $1,130 one bedroom, $1,360 two bedrooms, $1,670 three and $1,920 four bedrooms.

What payment standard can a housing authority set in ZIP 46348?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $1,224 to $1,496.

How affordable is rent in ZIP 46348?

Tax returns filed from ZIP 46348 reported an average adjusted gross income of $72,863 (2022). A two-bedroom unit at the Small Area FMR costs $16,320 a year, or 22% of that income.