ZIP 46391 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 46391 in the Gary, IN FMR area.

Gary, IN

$1,210Efficiency

$1,2901 bedroom

$1,5602 bedrooms

$1,9003 bedrooms

$2,1704 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$1,210	$1,089	$1,331	$1,117
1 bedroom	$1,290	$1,161	$1,419	$1,176
2 bedrooms	$1,560	$1,404	$1,716	$1,429
3 bedrooms	$1,900	$1,710	$2,090	$1,739
4 bedrooms	$2,170	$1,953	$2,387	$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

$1,210Efficiency

$1,2901 bedroom

$1,5602 bedrooms

$1,9003 bedrooms

$2,1704 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$1,210	$1,089	$1,331	$963
1 bedroom	$1,290	$1,161	$1,419	$1,031
2 bedrooms	$1,560	$1,404	$1,716	$1,245
3 bedrooms	$1,900	$1,710	$2,090	$1,525
4 bedrooms	$2,170	$1,953	$2,387	$1,762

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

Income in ZIP 46391

$77,299average adjusted gross income per tax return (2022)

$56,911average salaries and wages per return

3,160tax returns filed

24%of average income for a 2-bedroom SAFMR

Adjusted gross income	Share of returns
$1 to $25,000	25.6%
$25,000 to $50,000	20.6%
$50,000 to $75,000	14.9%
$75,000 to $100,000	11.1%
$100,000 to $200,000	22.5%
$200,000 or more	5.4%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 10.4% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 46391?

HUD's FY2027 Small Area FMRs for ZIP 46391 (Gary, IN) are $1,210 efficiency, $1,290 one bedroom, $1,560 two bedrooms, $1,900 three and $2,170 four bedrooms.

What payment standard can a housing authority set in ZIP 46391?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $1,404 to $1,716.

How affordable is rent in ZIP 46391?

Tax returns filed from ZIP 46391 reported an average adjusted gross income of $77,299 (2022). A two-bedroom unit at the Small Area FMR costs $18,720 a year, or 24% of that income.