Income Limits by County

HUD Metro FMR Area · 9 counties

Indianapolis-Carmel, IN Fair Market Rent & Income Limits

For FY2027 HUD set the two-bedroom Fair Market Rent for the Indianapolis-Carmel, IN area at $1,536 a month, up 4.3% from FY2026. The FY2026 median family income is $110,300. The same figures apply in all 9 counties of the area.

2-bedroom FMR$1,536per month ▲ 4.3%
Median family income$110,300FY2026
People in the area1,982,809HUD file, 2024

Fair Market Rent by unit size

FY2027 FY2026

Check your household

Enter your household size and total yearly income before taxes to see which HUD income category it falls in for Indianapolis-Carmel, IN.

Low income (80% limit)

A household of 4 earning $86,250 is under the 80% limit of $88,250 for this area. At 30% of income it could pay about $2,156 a month for rent and utilities.

This is a quick comparison with HUD's published limits, not an eligibility decision. Programs count income in their own ways and many have waiting lists; the local housing agency or property decides.

Income limits

FY2026 income limits by household size (yearly gross income)
PeopleExtremely low30% / povertyVery low50%60% (LIHTC)MTSPLow income80%
1$23,200$38,650$46,380$61,800
2$26,500$44,150$52,980$70,600
3$29,800$49,650$59,580$79,450
4$33,100$55,150$66,180$88,250
5$38,680$59,600$71,520$95,350
6$44,360$64,000$76,800$102,400
7$50,040$68,400$82,080$109,450
8$55,720$72,800$87,360$116,500

HERA Special area. Tax-credit properties placed in service before 2009 may use HUD's higher HERA hold-harmless 60% limits here: $66,420 for four people, against the regular $66,180.

Two-bedroom FMR since 2001

2-bedroom Fair Market Rent, 2001 to 2027$0$400$800$1,200$1,600$2,000200520102015202020252027$1,536FY2001: $559FY2002: $578FY2003: $588FY2004: $592FY2005: $655FY2006: $673FY2007: $693FY2008: $726FY2009: $745FY2010: $754FY2011: $761FY2012: $747FY2013: $765FY2014: $777FY2015: $792FY2016: $809FY2017: $850FY2018: $852FY2019: $918FY2020: $946FY2021: $946FY2022: $939FY2023: $1,065FY2024: $1,349FY2025: $1,283FY2026: $1,473FY2027: $1,536

Counties in the area

CountyPeople2 BR FMR
Marion County, IN975,809$1,536
Hamilton County, IN365,056$1,536
Hendricks County, IN183,344$1,536
Johnson County, IN166,315$1,536
Hancock County, IN84,037$1,536
Boone County, IN74,718$1,536
Morgan County, IN72,659$1,536
Shelby County, IN45,265$1,536
Brown County, IN15,606$1,536

Small Area FMRs across 136 ZIP codes

Two-bedroom Small Area FMRs in the Indianapolis-Carmel, IN area run from $1,010 to $2,300; the middle ZIP code is at $1,435, against the area-wide FMR of $1,536. This is a mandatory Small Area FMR area (designated 2023, in force since 1/1/2025): voucher payment standards follow the ZIP-code figures.

$1,010$2,300median $1,435

Highest ZIP codes

46075 (Whitestown, IN)$2,300
46236 (Indianapolis, IN)$2,300
46278 (Indianapolis, IN)$2,300
46184 (Whiteland, IN)$2,280
46077 (Zionsville, IN)$2,230
46204 (Indianapolis, IN)$2,220
46280 (Indianapolis, IN)$2,180
46033 (Carmel, IN)$2,160

Lowest ZIP codes

47235 (Freetown, IN)$1,010
46115 (Carthage, IN)$1,010
46120 (Cloverdale, IN)$1,010
47433 (Gosport, IN)$1,010
46126 (Fairland, IN)$1,040
46041 (Frankfort, IN)$1,040
46157 (Monrovia, IN)$1,080
46124 (Edinburgh, IN)$1,080

Questions

What is the Fair Market Rent in the Indianapolis-Carmel, IN area?

HUD's FY2027 Fair Market Rents for the Indianapolis-Carmel, IN area are $1,187 (studio), $1,336 (1 BR), $1,536 (2 BR), $1,991 (3 BR) and $2,425 (4 BR) a month.

What is the area median income for Indianapolis-Carmel, IN?

The FY2026 median family income is $110,300; the 80% low-income limit for four people is $88,250.

Which counties are in this HUD metro area?

Marion County, IN, Hamilton County, IN, Hendricks County, IN, Johnson County, IN, Hancock County, IN, Boone County, IN, Morgan County, IN, Shelby County, IN and Brown County, IN.