FY2027 Small Area FMR · Mccordsville, IN

ZIP 46055 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 46055 (Mccordsville, IN) is $2,090 a month, up 9.4% from FY2026. That is 36% above the Indianapolis-Carmel, IN area-wide FMR of $1,536.

2-bedroom SAFMR$2,090per month ▲ 9.4%

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

Rank in the area11thof 136 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,881

2 BR Small Area FMR$2,090

110% of SAFMR$2,299

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

Studio$1,620▲ 11.7%

1 BR$1,820▲ 11.0%

2 BR$2,090▲ 9.4%

3 BR$2,710▲ 9.7%

4 BR$3,300▲ 8.9%

FY2027 FY2026

Where 46055 sits in the Indianapolis-Carmel, IN area

Of the 136 ZIP codes HUD lists for the area, 46055 has the 11th 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 $1,881 and $2,299 for two bedrooms.

All unit sizes

Monthly gross rent including utilities
Unit	FY2027 SAFMR	Payment standard range	Area-wide FMR	FY2026 SAFMR
Studio	$1,620	$1,458 – $1,782	$1,187	$1,450
1 bedroom	$1,820	$1,638 – $2,002	$1,336	$1,640
2 bedrooms	$2,090	$1,881 – $2,299	$1,536	$1,910
3 bedrooms	$2,710	$2,439 – $2,981	$1,991	$2,470
4 bedrooms	$3,300	$2,970 – $3,630	$2,425	$3,030

A household renting a two-bedroom home at the Small Area FMR of $2,090 needs about $83,600 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 46055 lies mainly in Hancock County and Hamilton 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
46236	Indianapolis	3.5 mi	$2,300
46040	Fortville	4.5 mi	$1,620
46235	Indianapolis	5.2 mi	$1,310
46037	Fishers	5.5 mi	$2,020
46216	Indianapolis	6.0 mi	$1,700
46256	Indianapolis	6.0 mi	$1,500

Questions

What is the Fair Market Rent for ZIP code 46055?

HUD's FY2027 Small Area Fair Market Rents for 46055 are $1,620 (studio), $1,820 (1 BR), $2,090 (2 BR), $2,710 (3 BR) and $3,300 (4 BR) a month.

What is the Section 8 payment standard in 46055?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 46055 that range is $1,881 to $2,299 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 46055?

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.