46176
ZIPSAFMR
Shelby County, IN
BRFMR
Eff. Rent
0 BR$940$830
1 BR$1,070$900
2 BR$1,240$1,150
3 BR$1,610$1,500
4 BR$1,970$1,800
5 BR$2,266
6 BR$2,605
7 BR$2,996
8 BR$3,446

Market Alignment

How HUD fair market rents align with the state of the rental market.

Studio
Studio
1.13ratio
FMR$940
Market$830
vs market+$110

FMR exceeds market. Payment is likely to be capped due to rent reasonableness requirements in this area.

1.13
1 BR
1 BR
1.19ratio
FMR$1,070
Market$900
vs market+$170

FMR exceeds market. Payment is likely to be capped due to rent reasonableness requirements in this area.

1.19
2 BR
2 BR
1.08ratio
FMR$1,240
Market$1,150
vs market+$90

FMR aligns with market rates. Payment is likely to be at or near the FMR in this area.

1.08
3 BR
3 BR
1.07ratio
FMR$1,610
Market$1,500
vs market+$110

FMR aligns with market rates. Payment is likely to be at or near the FMR in this area.

1.07
4 BR
4 BR
1.09ratio
FMR$1,970
Market$1,800
vs market+$170

FMR aligns with market rates. Payment is likely to be at or near the FMR in this area.

1.09
0.700.800.901.001.101.201.30aligned range

HUD benchmarks exceed market rents for larger unit sizes.

Bedroom curve

Historical
See FMR progression in recent years

Data indexed

FMR
FY2026
Market rent
last ~365 days

Purchase Price Calculator

Maximum purchase price
$122,347
Rent
$1,240
Down payment
$24,469
Loan
$97,878
Mortgage
$619
Expenses
$421
Market inputs
About this result(HUD FMR/SAFMR details)

This page shows HUD Fair Market Rent data for 46176 (IN) for FY 2026. Fair Market Rent (FMR) is a HUD benchmark used to determine payment standards for programs like the Housing Choice Voucher (Section 8) program.

Values are shown for 0–4 bedroom units. In some metro areas HUD publishes Small Area FMR (SAFMR) at the ZIP-code level; otherwise the county/metropolitan-area FMR applies. This result is labeled SAFMR based on HUD's designation for the area and the available data.

Tip: use these numbers as a starting point and confirm local program rules (payment standards may differ from HUD's published FMR). If you're comparing neighborhoods, SAFMR ZIP ranges can highlight variation within the same county.