FY2027 Small Area FMR · Sweetser, IN

ZIP 46987 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 46987 (Sweetser, IN) is $1,270 a month, up 4.1% from FY2026. That is 25% above the Grant County, IN area-wide FMR of $1,014.

2-bedroom SAFMR$1,270per month ▲ 4.1%

Area-wide 2 BR FMR$1,014Grant County, IN

Rank in the area1stof 17 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,143

2 BR Small Area FMR$1,270

110% of SAFMR$1,397

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

Studio$940▲ 5.6%

1 BR$1,010▲ 3.1%

2 BR$1,270▲ 4.1%

3 BR$1,660▲ 3.8%

4 BR$1,860▲ 3.3%

FY2027 FY2026

Where 46987 sits in the Grant County, IN area

Of the 17 ZIP codes HUD lists for the area, 46987 has the 1st highest two-bedroom Small Area FMR. Grant 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 $1,014 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,270 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	$940	$846 – $1,034	$748	$890
1 bedroom	$1,010	$909 – $1,111	$804	$980
2 bedrooms	$1,270	$1,143 – $1,397	$1,014	$1,220
3 bedrooms	$1,660	$1,494 – $1,826	$1,329	$1,600
4 bedrooms	$1,860	$1,674 – $2,046	$1,488	$1,800

A household renting a two-bedroom home at the Small Area FMR of $1,270 needs about $50,800 a year to keep housing costs at 30% of income. The area median family income is $61,800 and the 80% low-income limit for four people is $67,850. ZIP code 46987 lies mainly in Grant County. See the Grant County, IN county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
46986	Swayzee	5.7 mi	$1,100
46919	Converse	5.7 mi	$1,020
46953	Marion	7.2 mi	$1,030
46952	Marion	7.4 mi	$1,010
46984	Somerset	7.6 mi	$1,200
46940	La Fontaine	9.3 mi	$1,200

Questions

What is the Fair Market Rent for ZIP code 46987?

HUD's FY2027 Small Area Fair Market Rents for 46987 are $940 (studio), $1,010 (1 BR), $1,270 (2 BR), $1,660 (3 BR) and $1,860 (4 BR) a month.

What is the Section 8 payment standard in 46987?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 46987 that range is $1,143 to $1,397 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 46987?

The FY2026 income limits of the Grant County, IN area apply: median family income $61,800, low-income (80%) limit $67,850 for a family of four.