FY2027 Small Area FMR · Atlanta, IN

ZIP 46031 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 46031 (Atlanta, IN) is $1,470 a month, up 4.3% from FY2026. That is 4% below the Indianapolis-Carmel, IN area-wide FMR of $1,536.

2-bedroom SAFMR$1,470per month ▲ 4.3%

Area-wide 2 BR FMR$1,536Indianapolis-Carmel, IN

Rank in the area54thof 136 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,323

2 BR Small Area FMR$1,470

110% of SAFMR$1,617

Housing agencies may set voucher payment standards anywhere from 90% to 110% of the FMR without asking HUD.

Studio$1,130▲ 5.6%

1 BR$1,240▲ 5.1%

2 BR$1,470▲ 4.3%

3 BR$1,870▲ 3.9%

4 BR$2,240▲ 0.9%

FY2027 FY2026

Where 46031 sits in the Indianapolis-Carmel, IN area

Of the 136 ZIP codes HUD lists for the area, 46031 has the 54th highest two-bedroom Small Area FMR. Indianapolis-Carmel, IN is one of the 65 metro areas where HUD requires Small Area FMRs for the Housing Choice Voucher program (designated 2023), so local housing agencies must set payment standards from this ZIP code's figure, normally between $1,323 and $1,617 for two bedrooms.

ZIP code 46031 crosses more than one HUD area. HUD also lists it under Tipton County, IN (same figures). The figure that applies depends on which side of the line the home is.

All unit sizes

Monthly gross rent including utilities
Unit	FY2027 SAFMR	Payment standard range	Area-wide FMR	FY2026 SAFMR
Studio	$1,130	$1,017 – $1,243	$1,187	$1,070
1 bedroom	$1,240	$1,116 – $1,364	$1,336	$1,180
2 bedrooms	$1,470	$1,323 – $1,617	$1,536	$1,410
3 bedrooms	$1,870	$1,683 – $2,057	$1,991	$1,800
4 bedrooms	$2,240	$2,016 – $2,464	$2,425	$2,220

A household renting a two-bedroom home at the Small Area FMR of $1,470 needs about $58,800 a year to keep housing costs at 30% of income. The area median family income is $110,300 and the 80% low-income limit for four people is $88,250. ZIP code 46031 lies mainly in Hamilton County and Tipton County. See the Indianapolis-Carmel, IN metro page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
46030	Arcadia	3.6 mi	$1,270
46072	Tipton	5.8 mi	$1,240
46034	Cicero	5.9 mi	$1,410
46047	Hobbs	6.3 mi	$1,230
46045	Goldsmith	8.8 mi	$1,230
46062	Noblesville	10.5 mi	$1,870

Questions

What is the Fair Market Rent for ZIP code 46031?

HUD's FY2027 Small Area Fair Market Rents for 46031 are $1,130 (studio), $1,240 (1 BR), $1,470 (2 BR), $1,870 (3 BR) and $2,240 (4 BR) a month.

What is the Section 8 payment standard in 46031?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 46031 that range is $1,323 to $1,617 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 46031?

The FY2026 income limits of the Indianapolis-Carmel, IN area apply: median family income $110,300, low-income (80%) limit $88,250 for a family of four.