What is the Fair Market Rent in Carmel, IN?

HUD’s fiscal year 2027 Small Area Fair Market Rent for a two-bedroom home runs from $1,940 to $2,180 a month across the 4 ZIP codes that cover Carmel.

By ZIP code: 46280 $2,180, 46290 $1,940, 46032 $2,140, 46033 $2,160.

Across the whole Indianapolis-Carmel, IN HUD Metro FMR Area the two-bedroom figure is $1,536.

The Census Bureau’s median gross rent for a two-bedroom home in Carmel is $1,719 (±$56), below the Small Area figure for ZIP 46280.

Figures last updated on .

2 bedrooms, whole area
$1,536
2 bedrooms, ZIP 46280
$2,180
2 bedrooms, ZIP 46290
$1,940
2 bedrooms, ZIP 46032
$2,140

Fair Market Rents for Carmel, fiscal year 2027

HUD Fair Market Rent, dollars a month (gross rent, including utilities), beside the Census Bureau’s median gross rent for each ZIP code
Studio1 bedroom2 bedrooms3 bedrooms4 bedroomsCensus median rent
Indianapolis-Carmel, IN HUD Metro FMR Area (whole area)$1,187$1,336$1,536$1,991$2,425—
ZIP 46280$1,690$1,900$2,180$2,830$3,440$1,771
ZIP 46290$1,500$1,690$1,940$2,510$3,060—
ZIP 46032 (95% of the ZIP’s land is in this place)$1,650$1,860$2,140$2,770$3,380$1,642
ZIP 46033 (83% of the ZIP’s land is in this place)$1,670$1,880$2,160$2,800$3,410$1,786

A Fair Market Rent is HUD’s estimate of the gross rent (shelter plus utilities) of a modest rental home in the area.

Whether a housing authority uses the ZIP code (Small Area) figures or the area-wide one depends on whether HUD has designated the area for Small Area FMRs or the authority has opted in; ask the local housing authority which applies.

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Questions about Carmel

What is the Section 8 payment standard in Carmel?

Housing authorities set payment standards between 90% and 110% of HUD’s Fair Market Rent; for fiscal year 2027, the two-bedroom Fair Market Rent for the Indianapolis-Carmel, IN HUD Metro FMR Area is $1,536, and the Small Area figure for 46280 is $2,180.

What is the Fair Market Rent for a two-bedroom in ZIP 46280?

HUD’s fiscal year 2027 Small Area Fair Market Rent for a two-bedroom home in ZIP 46280 is $2,180 a month; the Census Bureau’s median gross rent across that ZIP code, for homes of every size, is $1,771 (±$90).

What is the Fair Market Rent for a two-bedroom in ZIP 46290?

HUD’s fiscal year 2027 Small Area Fair Market Rent for a two-bedroom home in ZIP 46290 is $1,940 a month.

What is the Fair Market Rent for a two-bedroom in ZIP 46032?

HUD’s fiscal year 2027 Small Area Fair Market Rent for a two-bedroom home in ZIP 46032 is $2,140 a month; the Census Bureau’s median gross rent across that ZIP code, for homes of every size, is $1,642 (±$55).

What is the Fair Market Rent for a one-bedroom in Carmel?

HUD’s fiscal year 2027 Small Area Fair Market Rent for a one-bedroom home in ZIP 46280 is $1,900 a month, against $1,336 across the Indianapolis-Carmel, IN HUD Metro FMR Area.

Sources

Figures are published by the US Census Bureau, HUD, the Bureau of Labor Statistics and the FBI; Seayora reproduces them and does not adjust them, except where a sentence says it compares dollar figures after inflation. They describe the whole place, not any one building or street, and are not an appraisal, a rent determination, a tax bill, a safety rating or legal advice.

Figures last updated on .

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