ZIP 46550 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 46550 in the Elkhart-Goshen, IN MSA FMR area.

Elkhart-Goshen, IN MSA

$880Efficiency

$1,0001 bedroom

$1,1702 bedrooms

$1,4203 bedrooms

$1,5404 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$880	$792	$968	$1,008
1 bedroom	$1,000	$900	$1,100	$1,048
2 bedrooms	$1,170	$1,053	$1,287	$1,253
3 bedrooms	$1,420	$1,278	$1,562	$1,653
4 bedrooms	$1,540	$1,386	$1,694	$1,752

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

South Bend-Mishawaka, IN

$880Efficiency

$1,0001 bedroom

$1,1702 bedrooms

$1,4203 bedrooms

$1,5404 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$880	$792	$968	$937
1 bedroom	$1,000	$900	$1,100	$1,093
2 bedrooms	$1,170	$1,053	$1,287	$1,276
3 bedrooms	$1,420	$1,278	$1,562	$1,545
4 bedrooms	$1,540	$1,386	$1,694	$1,677

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

Kosciusko County, IN

$880Efficiency

$1,0001 bedroom

$1,1702 bedrooms

$1,4203 bedrooms

$1,5404 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$880	$792	$968	$882
1 bedroom	$1,000	$900	$1,100	$888
2 bedrooms	$1,170	$1,053	$1,287	$1,162
3 bedrooms	$1,420	$1,278	$1,562	$1,410
4 bedrooms	$1,540	$1,386	$1,694	$1,527

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

Marshall County, IN

$880Efficiency

$1,0001 bedroom

$1,1702 bedrooms

$1,4203 bedrooms

$1,5404 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$880	$792	$968	$814
1 bedroom	$1,000	$900	$1,100	$877
2 bedrooms	$1,170	$1,053	$1,287	$1,088
3 bedrooms	$1,420	$1,278	$1,562	$1,296
4 bedrooms	$1,540	$1,386	$1,694	$1,430

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

Income in ZIP 46550

$82,853average adjusted gross income per tax return (2022)

$54,195average salaries and wages per return

6,020tax returns filed

17%of average income for a 2-bedroom SAFMR

Adjusted gross income	Share of returns
$1 to $25,000	25.4%
$25,000 to $50,000	21.8%
$50,000 to $75,000	19.1%
$75,000 to $100,000	14.1%
$100,000 to $200,000	15.3%
$200,000 or more	4.3%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 9.3% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 46550?

HUD's FY2027 Small Area FMRs for ZIP 46550 (Elkhart-Goshen, IN MSA) are $880 efficiency, $1,000 one bedroom, $1,170 two bedrooms, $1,420 three and $1,540 four bedrooms.

What payment standard can a housing authority set in ZIP 46550?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $1,053 to $1,287.

How affordable is rent in ZIP 46550?

Tax returns filed from ZIP 46550 reported an average adjusted gross income of $82,853 (2022). A two-bedroom unit at the Small Area FMR costs $14,040 a year, or 17% of that income.