Hamilton County/Noblesville/46062

46062

ZIPSAFMR

Hamilton County, IN

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ZIP Investment Score

98Above average

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$1,450	$1,440	11.7%
1 BR	$1,630	$1,640	10.4%
2 BR	$1,870	$2,000	9.4%
3 BR	$2,420	$2,260	9.2%
4 BR	$2,950	$2,630	9.4%
5 BR	$3,392	Not available	9.4%
6 BR	$3,901	Not available	9.4%
7 BR	$4,487	Not available	9.5%
8 BR	$5,160	Not available	9.5%

Purchase Price Calculator

Maximum purchase price

$235,283

Cost breakdown

+Likely effective rent$2,000

HUD FMR$1,870

Market rent$2,070

Est. payment standard (107%)Used$2,000

-Principal and interest-$1,190

Loan amount$188,226

Down payment$47,057

Rate6.50%

Term30 years

-Operating costs-$610

Property taxes-$235

Insurance-$175

Utilities$0

HOA$0

Management-$200

=Target cash flow+$200

Calculation mode

BedroomsCash-flow target

Down payment methodDown payment %

HOA / mo

Utilities methodUtilities amount

Management methodManagement % of rent

Hold period projections

Annual appreciation rate

3-year hold

+$32,035(68.1% ROI)

Projected value

$253,374

Return breakdown

Property appreciation+$18,091

Loan principal paid down+$6,744

Rental cash flow+$7,200

5-year hold

+$54,944(116.8% ROI)

Projected value

$266,201

Return breakdown

Property appreciation+$30,918

Loan principal paid down+$12,026

Rental cash flow+$12,000

10-year hold

+$118,554(251.9% ROI)

Projected value

$301,182

Return breakdown

Property appreciation+$65,899

Loan principal paid down+$28,655

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

1.01ratio

FMR$1,450

Market$1,440

vs market+$10

FMR is near market; voucher and private rents are aligned.

1.01

1 BR

0.99ratio

FMR$1,630

Market$1,640

vs market-$10

FMR is near market; voucher and private rents are aligned.

0.99

2 BR

0.90ratio

FMR$1,870

Market$2,070

vs market-$200

FMR is near market; voucher and private rents are aligned.

0.90

3 BR

1.07ratio

FMR$2,420

Market$2,260

vs market+$160

FMR is near market; voucher and private rents are aligned.

1.07

4 BR

1.12ratio

FMR$2,950

Market$2,630

vs market+$320

FMR is above market; underwrite to market rent.

1.12

0.700.800.901.001.101.201.30aligned range

Historical

FY 2023-2027

FMR: FY2027
Market rent: last ~365 days
Property value: --
Tax rate: --
Mortgage rate: --

ZIP 46062 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 46062 (Noblesville, IN) is $1,870 a month. That is up 8.1% from $1,730 in FY 2026. Noblesville is in the Indianapolis-Carmel, IN HUD Metro FMR Area, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 30 ZIP codes in Hamilton County, 46062 has the 13th-highest two-bedroom rent (county range $1,120–$2,300). The median county two-bedroom FMR in Indiana is $1,086, so ZIP 46062 is 72% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 46062
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$1,310	$1,450	+10.7%	$1,305–$1,595
1BR	$1,490	$1,630	+9.4%	$1,467–$1,793
2BR	$1,730	$1,870	+8.1%	$1,683–$2,057
3BR	$2,240	$2,420	+8.0%	$2,178–$2,662
4BR	$2,750	$2,950	+7.3%	$2,655–$3,245

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 46062
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$1,450	$1,630	$1,870	$2,420	$2,950
FY 2026	$1,310	$1,490	$1,730	$2,240	$2,750
FY 2025	$1,060	$1,220	$1,430	$1,860	$2,260
FY 2024	$1,040	$1,210	$1,430	$1,860	$2,250
FY 2023	$810	$940	$1,120	$1,470	$1,760

Two-bedroom rent in nearby Hamilton County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code	2 bedroom	vs. 46062
46049	$1,240	−33.7%
46050	$1,150	−38.5%
46055	$2,090	+11.8%
46060	$1,660	−11.2%
46061	$1,960	+4.8%
46062Current	$1,870	—
46064	$1,570	−16.0%
46069	$1,120	−40.1%
46072	$1,240	−33.7%
46074	$2,120	+13.4%
46077	$2,230	+19.3%
46082	$1,960	+4.8%

Questions about ZIP 46062 rents

How much will Section 8 pay for a two-bedroom in ZIP 46062?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,870, that basic range is $1,683 to $2,057 a month. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is ZIP 46062 in?

ZIP 46062 is in the Indianapolis-Carmel, IN HUD Metro FMR Area. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.

How much did fair market rent change in ZIP 46062 for FY 2027?

The two-bedroom FMR rose 8.1%, from $1,730 in FY 2026 to $1,870 in FY 2027. Since FY 2023 it has risen 67.0%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set

County fair market rent Noblesville, IN fair market rent IN statewide rents What is SAFMR?Data sources