FY2027 Small Area FMR · Garrett, IN

ZIP 46738 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 46738 (Garrett, IN) is $1,040 a month, up 6.1% from FY2026. That is 2% above the DeKalb County, IN area-wide FMR of $1,023.

2-bedroom SAFMR$1,040per month ▲ 6.1%

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

Rank in the area5thof 15 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$780▲ 11.4%

1 BR$830▲ 10.7%

2 BR$1,040▲ 6.1%

3 BR$1,290▲ 5.7%

4 BR$1,370▲ 5.4%

FY2027 FY2026

Where 46738 sits in the DeKalb County, IN area

Of the 15 ZIP codes HUD lists for the area, 46738 has the 5th highest two-bedroom Small Area FMR. DeKalb 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 $1,040 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	$780	$702 – $858	$765	$700
1 bedroom	$830	$747 – $913	$814	$750
2 bedrooms	$1,040	$936 – $1,144	$1,023	$980
3 bedrooms	$1,290	$1,161 – $1,419	$1,270	$1,220
4 bedrooms	$1,370	$1,233 – $1,507	$1,344	$1,300

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 $92,000 and the 80% low-income limit for four people is $73,600. ZIP code 46738 lies mainly in DeKalb County. See the DeKalb County, IN county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
46763	Laotto	4.5 mi	$1,020
46748	Huntertown	4.9 mi	$1,510
46710	Avilla	5.1 mi	$1,010
46706	Auburn	6.2 mi	$1,040
46845	Fort Wayne	7.7 mi	$1,740
46765	Leo	7.9 mi	$1,480

Questions

What is the Fair Market Rent for ZIP code 46738?

HUD's FY2027 Small Area Fair Market Rents for 46738 are $780 (studio), $830 (1 BR), $1,040 (2 BR), $1,290 (3 BR) and $1,370 (4 BR) a month.

What is the Section 8 payment standard in 46738?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 46738 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 46738?

The FY2026 income limits of the DeKalb County, IN area apply: median family income $92,000, low-income (80%) limit $73,600 for a family of four.