FY2027 Small Area FMR · Carmel, IN

ZIP 46082 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 46082 (Carmel, IN) is $1,960 a month, up 5.9% from FY2026. That is 28% above the Indianapolis-Carmel, IN area-wide FMR of $1,536.

2-bedroom SAFMR$1,960per month ▲ 5.9%

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

Rank in the area19thof 136 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,764

2 BR Small Area FMR$1,960

110% of SAFMR$2,156

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

Studio$1,520▲ 8.6%

1 BR$1,700▲ 6.9%

2 BR$1,960▲ 5.9%

3 BR$2,540▲ 5.8%

4 BR$3,090▲ 5.1%

FY2027 FY2026

Where 46082 sits in the Indianapolis-Carmel, IN area

Of the 136 ZIP codes HUD lists for the area, 46082 has the 19th 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 $1,764 and $2,156 for two bedrooms.

All unit sizes

Monthly gross rent including utilities
Unit	FY2027 SAFMR	Payment standard range	Area-wide FMR	FY2026 SAFMR
Studio	$1,520	$1,368 – $1,672	$1,187	$1,400
1 bedroom	$1,700	$1,530 – $1,870	$1,336	$1,590
2 bedrooms	$1,960	$1,764 – $2,156	$1,536	$1,850
3 bedrooms	$2,540	$2,286 – $2,794	$1,991	$2,400
4 bedrooms	$3,090	$2,781 – $3,399	$2,425	$2,940

A household renting a two-bedroom home at the Small Area FMR of $1,960 needs about $78,400 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 46082 lies mainly in 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
46062	Noblesville	0.8 mi	$1,870
46034	Cicero	3.8 mi	$1,410
46030	Arcadia	6.4 mi	$1,270
46033	Carmel	6.7 mi	$2,160
46074	Westfield	7.0 mi	$2,120
46060	Noblesville	7.2 mi	$1,660

Questions

What is the Fair Market Rent for ZIP code 46082?

HUD's FY2027 Small Area Fair Market Rents for 46082 are $1,520 (studio), $1,700 (1 BR), $1,960 (2 BR), $2,540 (3 BR) and $3,090 (4 BR) a month.

What is the Section 8 payment standard in 46082?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 46082 that range is $1,764 to $2,156 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 46082?

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.