FY2027 Small Area FMR · Morgantown, IN

ZIP 46160 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 46160 (Morgantown, IN) is $1,160 a month, up 4.5% from FY2026. That is 24% below the Indianapolis-Carmel, IN area-wide FMR of $1,536.

2-bedroom SAFMR$1,160per month ▲ 4.5%

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

Rank in the area118thof 136 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,044

2 BR Small Area FMR$1,160

110% of SAFMR$1,276

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

Studio$900▲ 7.1%

1 BR$1,010▲ 6.3%

2 BR$1,160▲ 4.5%

3 BR$1,500▲ 4.2%

4 BR$1,830▲ 4.0%

FY2027 FY2026

Where 46160 sits in the Indianapolis-Carmel, IN area

Of the 136 ZIP codes HUD lists for the area, 46160 has the 118th 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 $1,044 and $1,276 for two bedrooms.

All unit sizes

Monthly gross rent including utilities
Unit	FY2027 SAFMR	Payment standard range	Area-wide FMR	FY2026 SAFMR
Studio	$900	$810 – $990	$1,187	$840
1 bedroom	$1,010	$909 – $1,111	$1,336	$950
2 bedrooms	$1,160	$1,044 – $1,276	$1,536	$1,110
3 bedrooms	$1,500	$1,350 – $1,650	$1,991	$1,440
4 bedrooms	$1,830	$1,647 – $2,013	$2,425	$1,760

A household renting a two-bedroom home at the Small Area FMR of $1,160 needs about $46,400 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 46160 lies mainly in Brown County, Morgan County and Johnson 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
46181	Trafalgar	5.4 mi	$1,410
46164	Nineveh	7.8 mi	$1,140
47468	Unionville	8.6 mi	$1,260
47435	Helmsburg	10.9 mi	$1,280
46151	Martinsville	11.4 mi	$1,300
46106	Bargersville	11.7 mi	$2,040

Questions

What is the Fair Market Rent for ZIP code 46160?

HUD's FY2027 Small Area Fair Market Rents for 46160 are $900 (studio), $1,010 (1 BR), $1,160 (2 BR), $1,500 (3 BR) and $1,830 (4 BR) a month.

What is the Section 8 payment standard in 46160?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 46160 that range is $1,044 to $1,276 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 46160?

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.