ZIP 47272 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 47272 in the Indianapolis-Carmel, IN FMR area.

Indianapolis-Carmel, IN

$890Efficiency

$9501 bedroom

$1,1802 bedrooms

$1,4503 bedrooms

$1,6704 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$890	$801	$979	$1,187
1 bedroom	$950	$855	$1,045	$1,336
2 bedrooms	$1,180	$1,062	$1,298	$1,536
3 bedrooms	$1,450	$1,305	$1,595	$1,991
4 bedrooms	$1,670	$1,503	$1,837	$2,425

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

Decatur County, IN

$890Efficiency

$9501 bedroom

$1,1802 bedrooms

$1,4503 bedrooms

$1,6704 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$890	$801	$979	$832
1 bedroom	$950	$855	$1,045	$850
2 bedrooms	$1,180	$1,062	$1,298	$1,112
3 bedrooms	$1,450	$1,305	$1,595	$1,325
4 bedrooms	$1,670	$1,503	$1,837	$1,461

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

Rush County, IN

$890Efficiency

$9501 bedroom

$1,1802 bedrooms

$1,4503 bedrooms

$1,6704 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$890	$801	$979	$759
1 bedroom	$950	$855	$1,045	$786
2 bedrooms	$1,180	$1,062	$1,298	$1,014
3 bedrooms	$1,450	$1,305	$1,595	$1,208
4 bedrooms	$1,670	$1,503	$1,837	$1,333

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

Income in ZIP 47272

$58,032average adjusted gross income per tax return (2022)

$44,599average salaries and wages per return

850tax returns filed

24%of average income for a 2-bedroom SAFMR

Adjusted gross income	Share of returns
$1 to $25,000	29.4%
$25,000 to $50,000	24.7%
$50,000 to $75,000	20.0%
$75,000 to $100,000	8.2%
$100,000 to $200,000	17.6%
$200,000 or more	0.0%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 16.5% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 47272?

HUD's FY2027 Small Area FMRs for ZIP 47272 (Indianapolis-Carmel, IN) are $890 efficiency, $950 one bedroom, $1,180 two bedrooms, $1,450 three and $1,670 four bedrooms.

What payment standard can a housing authority set in ZIP 47272?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $1,062 to $1,298.

How affordable is rent in ZIP 47272?

Tax returns filed from ZIP 47272 reported an average adjusted gross income of $58,032 (2022). A two-bedroom unit at the Small Area FMR costs $14,160 a year, or 24% of that income.