FY2027 Small Area FMR · Frankton, IN

ZIP 46044 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 46044 (Frankton, IN) is $1,440 a month, up 22.0% from FY2026. That is 8% above the Anderson, IN area-wide FMR of $1,331.

2-bedroom SAFMR$1,440per month ▲ 22.0%

Area-wide 2 BR FMR$1,331Anderson, IN

Rank in the area8thof 21 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,296

2 BR Small Area FMR$1,440

110% of SAFMR$1,584

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

Studio$1,090▲ 23.9%

1 BR$1,100▲ 22.2%

2 BR$1,440▲ 22.0%

3 BR$1,890▲ 21.2%

4 BR$1,890▲ 21.2%

FY2027 FY2026

Where 46044 sits in the Anderson, IN area

Of the 21 ZIP codes HUD lists for the area, 46044 has the 8th highest two-bedroom Small Area FMR. Anderson, IN is not on HUD's list of mandatory Small Area FMR areas, so voucher payment standards here are normally based on the area-wide FMR of $1,331 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,440 for this ZIP code instead.

All unit sizes

Monthly gross rent including utilities
Unit	FY2027 SAFMR	Payment standard range	Area-wide FMR	FY2026 SAFMR
Studio	$1,090	$981 – $1,199	$1,011	$880
1 bedroom	$1,100	$990 – $1,210	$1,017	$900
2 bedrooms	$1,440	$1,296 – $1,584	$1,331	$1,180
3 bedrooms	$1,890	$1,701 – $2,079	$1,743	$1,560
4 bedrooms	$1,890	$1,701 – $2,079	$1,749	$1,560

A household renting a two-bedroom home at the Small Area FMR of $1,440 needs about $57,600 a year to keep housing costs at 30% of income. The area median family income is $83,400 and the 80% low-income limit for four people is $67,850. ZIP code 46044 lies mainly in Madison County. See the Anderson, IN county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
46063	Orestes	5.4 mi	$1,140
46011	Anderson	5.9 mi	$1,520
46036	Elwood	6.1 mi	$1,200
46001	Alexandria	7.6 mi	$1,170
46047	Hobbs	9.6 mi	$1,230
46016	Anderson	9.8 mi	$1,380

Questions

What is the Fair Market Rent for ZIP code 46044?

HUD's FY2027 Small Area Fair Market Rents for 46044 are $1,090 (studio), $1,100 (1 BR), $1,440 (2 BR), $1,890 (3 BR) and $1,890 (4 BR) a month.

What is the Section 8 payment standard in 46044?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 46044 that range is $1,296 to $1,584 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 46044?

The FY2026 income limits of the Anderson, IN area apply: median family income $83,400, low-income (80%) limit $67,850 for a family of four.