What is the Fair Market Rent in Ray Township (Morgan County), IN?

HUD’s fiscal year 2027 Small Area Fair Market Rent for a two-bedroom home in ZIP 46166, which covers Ray Township (Morgan County), is $1,280 a month.

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 Ray Township (Morgan County) is $1,069 (±$244), within its margin of the Small Area figure for ZIP 46166.

Figures last updated on November 12, 2026.

2 bedrooms, whole area: $1,536
2 bedrooms, ZIP 46166: $1,280

Fair Market Rents for Ray Township (Morgan County), 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
	Studio	1 bedroom	2 bedrooms	3 bedrooms	4 bedrooms	Census median rent
Indianapolis-Carmel, IN HUD Metro FMR Area (whole area)	$1,187	$1,336	$1,536	$1,991	$2,425	—
ZIP 46166 (57% of the ZIP’s land is in this place)	$1,000	$1,120	$1,280	$1,650	$2,030	$1,102

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 Ray Township (Morgan County)

What is the Section 8 payment standard in Ray Township (Morgan County)?

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 46166 is $1,280.

What is the Fair Market Rent for a two-bedroom in ZIP 46166?

HUD’s fiscal year 2027 Small Area Fair Market Rent for a two-bedroom home in ZIP 46166 is $1,280 a month; the Census Bureau’s median gross rent across that ZIP code, for homes of every size, is $1,102 (±$169).

What is the Fair Market Rent for a one-bedroom in Ray Township (Morgan County)?

HUD’s fiscal year 2027 Small Area Fair Market Rent for a one-bedroom home in ZIP 46166 is $1,120 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.