ZIP 46390 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 46390 in the Gary, IN FMR area.

Gary, IN

$1,240Efficiency
$1,3201 bedroom
$1,6002 bedrooms
$1,9603 bedrooms
$2,2604 bedrooms

Payment standard range

Unit sizeSAFMR90%110%Metro FMR
Efficiency$1,240$1,116$1,364$1,117
1 bedroom$1,320$1,188$1,452$1,176
2 bedrooms$1,600$1,440$1,760$1,429
3 bedrooms$1,960$1,764$2,156$1,739
4 bedrooms$2,260$2,034$2,486$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

$1,240Efficiency
$1,3201 bedroom
$1,6002 bedrooms
$1,9603 bedrooms
$2,2604 bedrooms

Payment standard range

Unit sizeSAFMR90%110%Metro FMR
Efficiency$1,240$1,116$1,364$963
1 bedroom$1,320$1,188$1,452$1,031
2 bedrooms$1,600$1,440$1,760$1,245
3 bedrooms$1,960$1,764$2,156$1,525
4 bedrooms$2,260$2,034$2,486$1,762

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

Income in ZIP 46390

$76,441average adjusted gross income per tax return (2022)
$54,141average salaries and wages per return
1,400tax returns filed
25%of average income for a 2-bedroom SAFMR
Adjusted gross incomeShare of returns
$1 to $25,00022.9%
$25,000 to $50,00019.3%
$50,000 to $75,00016.4%
$75,000 to $100,00014.3%
$100,000 to $200,00022.9%
$200,000 or more4.3%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 7.9% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 46390?

HUD's FY2027 Small Area FMRs for ZIP 46390 (Gary, IN) are $1,240 efficiency, $1,320 one bedroom, $1,600 two bedrooms, $1,960 three and $2,260 four bedrooms.

What payment standard can a housing authority set in ZIP 46390?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $1,440 to $1,760.

How affordable is rent in ZIP 46390?

Tax returns filed from ZIP 46390 reported an average adjusted gross income of $76,441 (2022). A two-bedroom unit at the Small Area FMR costs $19,200 a year, or 25% of that income.