FY2027 Small Area FMR · Kouts, IN

ZIP 46347 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 46347 (Kouts, IN) is $1,130 a month, down 8.9% from FY2026. That is 21% below the Gary, IN area-wide FMR of $1,429.

2-bedroom SAFMR$1,130per month ▼ 8.9%

Area-wide 2 BR FMR$1,429Gary, IN

Rank in the area54thof 59 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,017

2 BR Small Area FMR$1,130

110% of SAFMR$1,243

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

Studio$880▼ 4.3%

1 BR$930▼ 7.9%

2 BR$1,130▼ 8.9%

3 BR$1,400▼ 9.7%

4 BR$1,530▼ 9.5%

FY2027 FY2026

Where 46347 sits in the Gary, IN area

Of the 59 ZIP codes HUD lists for the area, 46347 has the 54th highest two-bedroom Small Area FMR. Gary, IN is one of the 65 metro areas where HUD requires Small Area FMRs for the Housing Choice Voucher program (designated 2016), so local housing agencies must set payment standards from this ZIP code's figure, normally between $1,017 and $1,243 for two bedrooms.

All unit sizes

Monthly gross rent including utilities
Unit	FY2027 SAFMR	Payment standard range	Area-wide FMR	FY2026 SAFMR
Studio	$880	$792 – $968	$1,117	$920
1 bedroom	$930	$837 – $1,023	$1,176	$1,010
2 bedrooms	$1,130	$1,017 – $1,243	$1,429	$1,240
3 bedrooms	$1,400	$1,260 – $1,540	$1,739	$1,550
4 bedrooms	$1,530	$1,377 – $1,683	$1,898	$1,690

A household renting a two-bedroom home at the Small Area FMR of $1,130 needs about $45,200 a year to keep housing costs at 30% of income. The area median family income is $100,900 and the 80% low-income limit for four people is $80,700. ZIP code 46347 lies mainly in Porter County. See the Gary, IN metro page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
46302	Boone Grove	7.2 mi	$1,380
46348	La Crosse	7.6 mi	$1,360
46374	San Pierre	9.0 mi	$1,060
46392	Wheatfield	9.0 mi	$1,360
46390	Wanatah	10.2 mi	$1,600
46341	Hebron	10.8 mi	$1,180

Questions

What is the Fair Market Rent for ZIP code 46347?

HUD's FY2027 Small Area Fair Market Rents for 46347 are $880 (studio), $930 (1 BR), $1,130 (2 BR), $1,400 (3 BR) and $1,530 (4 BR) a month.

What is the Section 8 payment standard in 46347?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 46347 that range is $1,017 to $1,243 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 46347?

The FY2026 income limits of the Gary, IN area apply: median family income $100,900, low-income (80%) limit $80,700 for a family of four.