FY2027 Small Area FMR · Fairland, IN

ZIP 46126 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 46126 (Fairland, IN) is $1,040 a month, down 5.5% from FY2026. That is 32% below the Indianapolis-Carmel, IN area-wide FMR of $1,536.

2-bedroom SAFMR$1,040per month ▼ 5.5%

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

Rank in the area131stof 136 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$936

2 BR Small Area FMR$1,040

110% of SAFMR$1,144

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

Studio$800▼ 1.2%

1 BR$900▼ 4.3%

2 BR$1,040▼ 5.5%

3 BR$1,350▼ 6.2%

4 BR$1,640▼ 5.2%

FY2027 FY2026

Where 46126 sits in the Indianapolis-Carmel, IN area

Of the 136 ZIP codes HUD lists for the area, 46126 has the 131st 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 $936 and $1,144 for two bedrooms.

All unit sizes

Monthly gross rent including utilities
Unit	FY2027 SAFMR	Payment standard range	Area-wide FMR	FY2026 SAFMR
Studio	$800	$720 – $880	$1,187	$810
1 bedroom	$900	$810 – $990	$1,336	$940
2 bedrooms	$1,040	$936 – $1,144	$1,536	$1,100
3 bedrooms	$1,350	$1,215 – $1,485	$1,991	$1,440
4 bedrooms	$1,640	$1,476 – $1,804	$2,425	$1,730

A household renting a two-bedroom home at the Small Area FMR of $1,040 needs about $41,600 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 46126 lies mainly in Shelby 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
46130	Fountaintown	4.5 mi	$1,280
46110	Boggstown	4.5 mi	$1,190
46162	Needham	5.8 mi	$1,540
46259	Indianapolis	5.8 mi	$1,590
46163	New Palestine	7.9 mi	$1,430
46176	Shelbyville	8.4 mi	$1,280

Questions

What is the Fair Market Rent for ZIP code 46126?

HUD's FY2027 Small Area Fair Market Rents for 46126 are $800 (studio), $900 (1 BR), $1,040 (2 BR), $1,350 (3 BR) and $1,640 (4 BR) a month.

What is the Section 8 payment standard in 46126?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 46126 that range is $936 to $1,144 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 46126?

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.