ZIP 47933 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 47933 in the Indianapolis-Carmel, IN FMR area.

Indianapolis-Carmel, IN

$890Efficiency

$9501 bedroom

$1,1102 bedrooms

$1,4503 bedrooms

$1,7504 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	$1,110	$999	$1,221	$1,536
3 bedrooms	$1,450	$1,305	$1,595	$1,991
4 bedrooms	$1,750	$1,575	$1,925	$2,425

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

Fountain County, IN

$890Efficiency

$9501 bedroom

$1,1102 bedrooms

$1,4503 bedrooms

$1,7504 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$890	$801	$979	$759
1 bedroom	$950	$855	$1,045	$775
2 bedrooms	$1,110	$999	$1,221	$1,014
3 bedrooms	$1,450	$1,305	$1,595	$1,279
4 bedrooms	$1,750	$1,575	$1,925	$1,695

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

Montgomery County, IN

$890Efficiency

$9501 bedroom

$1,1102 bedrooms

$1,4503 bedrooms

$1,7504 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$890	$801	$979	$895
1 bedroom	$950	$855	$1,045	$900
2 bedrooms	$1,110	$999	$1,221	$1,046
3 bedrooms	$1,450	$1,305	$1,595	$1,351
4 bedrooms	$1,750	$1,575	$1,925	$1,459

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

Income in ZIP 47933

$62,932average adjusted gross income per tax return (2022)

$45,204average salaries and wages per return

13,450tax returns filed

21%of average income for a 2-bedroom SAFMR

Adjusted gross income	Share of returns
$1 to $25,000	30.3%
$25,000 to $50,000	24.8%
$50,000 to $75,000	16.6%
$75,000 to $100,000	9.7%
$100,000 to $200,000	15.5%
$200,000 or more	3.0%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 13.6% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 47933?

HUD's FY2027 Small Area FMRs for ZIP 47933 (Indianapolis-Carmel, IN) are $890 efficiency, $950 one bedroom, $1,110 two bedrooms, $1,450 three and $1,750 four bedrooms.

What payment standard can a housing authority set in ZIP 47933?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $999 to $1,221.

How affordable is rent in ZIP 47933?

Tax returns filed from ZIP 47933 reported an average adjusted gross income of $62,932 (2022). A two-bedroom unit at the Small Area FMR costs $13,320 a year, or 21% of that income.