FY2027 Small Area FMR · Urbana, IN

ZIP 46990 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 46990 (Urbana, IN) is $1,060 a month, up 6.0% from FY2026. That is 5% above the Wabash County, IN area-wide FMR of $1,014.

2-bedroom SAFMR$1,060per month ▲ 6.0%

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

Rank in the area5thof 18 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$954

2 BR Small Area FMR$1,060

110% of SAFMR$1,166

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▲ 7.9%

2 BR$1,060▲ 6.0%

3 BR$1,280▲ 5.8%

4 BR$1,450▲ 7.4%

FY2027 FY2026

Where 46990 sits in the Wabash County, IN area

Of the 18 ZIP codes HUD lists for the area, 46990 has the 5th highest two-bedroom Small Area FMR. Wabash 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 $1,060 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	$759	$720
1 bedroom	$820	$738 – $902	$775	$760
2 bedrooms	$1,060	$954 – $1,166	$1,014	$1,000
3 bedrooms	$1,280	$1,152 – $1,408	$1,208	$1,210
4 bedrooms	$1,450	$1,305 – $1,595	$1,348	$1,350

A household renting a two-bedroom home at the Small Area FMR of $1,060 needs about $42,400 a year to keep housing costs at 30% of income. The area median family income is $89,700 and the 80% low-income limit for four people is $71,750. ZIP code 46990 lies mainly in Wabash County. See the Wabash County, IN county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
46980	Servia	4.1 mi	$1,010
46941	Lagro	5.6 mi	$1,200
46962	North Manchester	6.6 mi	$1,010
46702	Andrews	7.1 mi	$1,010
46943	Laketon	7.9 mi	$1,020
46992	Wabash	9.1 mi	$1,010

Questions

What is the Fair Market Rent for ZIP code 46990?

HUD's FY2027 Small Area Fair Market Rents for 46990 are $800 (studio), $820 (1 BR), $1,060 (2 BR), $1,280 (3 BR) and $1,450 (4 BR) a month.

What is the Section 8 payment standard in 46990?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 46990 that range is $954 to $1,166 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 46990?

The FY2026 income limits of the Wabash County, IN area apply: median family income $89,700, low-income (80%) limit $71,750 for a family of four.