FY2027 Small Area FMR · Albion, IN

ZIP 46701 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 46701 (Albion, IN) is $1,070 a month, up 4.9% from FY2026. That is 5% above the Noble County, IN area-wide FMR of $1,023.

2-bedroom SAFMR$1,070per month ▲ 4.9%

Area-wide 2 BR FMR$1,023Noble County, IN

Rank in the area10thof 19 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$963

2 BR Small Area FMR$1,070

110% of SAFMR$1,177

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

Studio$800▲ 11.1%

1 BR$820▲ 5.1%

2 BR$1,070▲ 4.9%

3 BR$1,270▲ 4.1%

4 BR$1,790▲ 4.7%

FY2027 FY2026

Where 46701 sits in the Noble County, IN area

Of the 19 ZIP codes HUD lists for the area, 46701 has the 10th highest two-bedroom Small Area FMR. Noble County, IN is not on HUD's list of mandatory Small Area FMR areas, so voucher payment standards here are normally based on the area-wide FMR of $1,023 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,070 for this ZIP code instead.

All unit sizes

Monthly gross rent including utilities
Unit	FY2027 SAFMR	Payment standard range	Area-wide FMR	FY2026 SAFMR
Studio	$800	$720 – $880	$765	$720
1 bedroom	$820	$738 – $902	$782	$780
2 bedrooms	$1,070	$963 – $1,177	$1,023	$1,020
3 bedrooms	$1,270	$1,143 – $1,397	$1,219	$1,220
4 bedrooms	$1,790	$1,611 – $1,969	$1,710	$1,710

A household renting a two-bedroom home at the Small Area FMR of $1,070 needs about $42,800 a year to keep housing costs at 30% of income. The area median family income is $86,700 and the 80% low-income limit for four people is $69,350. ZIP code 46701 lies mainly in Noble County. See the Noble County, IN county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
46796	Wolflake	4.0 mi	$1,070
46760	Kimmell	6.4 mi	$1,080
46794	Wawaka	7.1 mi	$1,070
46723	Churubusco	9.6 mi	$1,010
46710	Avilla	9.9 mi	$1,010
46784	Rome City	9.9 mi	$1,060

Questions

What is the Fair Market Rent for ZIP code 46701?

HUD's FY2027 Small Area Fair Market Rents for 46701 are $800 (studio), $820 (1 BR), $1,070 (2 BR), $1,270 (3 BR) and $1,790 (4 BR) a month.

What is the Section 8 payment standard in 46701?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 46701 that range is $963 to $1,177 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 46701?

The FY2026 income limits of the Noble County, IN area apply: median family income $86,700, low-income (80%) limit $69,350 for a family of four.