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Marion County/Indianapolis/46250

46250

ZIPSAFMR
Marion County, IN
Zillow

ZIP Investment Score

90Below average

095130300
BRFMR
Eff. Rent
0 BR$1,310$930
1 BR$1,470$1,160
2 BR$1,690$1,740
3 BR$2,190$1,890
4 BR$2,670$2,310
5 BR$3,070Not available
6 BR$3,531Not available
7 BR$4,061Not available
8 BR$4,670Not available

Purchase Price Calculator

Maximum purchase price
$196,647

Cost breakdown

+Likely effective rent$1,740
HUD FMR$1,690
Market rent$1,760
Est. payment standard (103%)Used$1,740
-Principal and interest-$994
Loan amount$157,317
Down payment$39,329
Rate6.50%
Term30 years
-Operating costs-$546
Property taxes-$197
Insurance-$175
Utilities$0
HOA$0
Management-$174
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$27,957(71.1% ROI)
Projected value
$211,767
Return breakdown
Property appreciation+$15,120
Loan principal paid down+$5,636
Rental cash flow+$7,200
5-year hold
+$47,892(121.8% ROI)
Projected value
$222,488
Return breakdown
Property appreciation+$25,841
Loan principal paid down+$10,051
Rental cash flow+$12,000
10-year hold
+$103,028(262.0% ROI)
Projected value
$251,725
Return breakdown
Property appreciation+$55,078
Loan principal paid down+$23,950
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.41
1 BR
1.27
2 BR
0.96
3 BR
1.16
4 BR
1.16
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 46250 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 46250 (Indianapolis, IN) is $1,690 a month. That is up 3.7% from $1,630 in FY 2026. Indianapolis 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 53 ZIP codes in Marion County, 46250 has the 20th-highest two-bedroom rent (county range $1,310–$2,300). The median county two-bedroom FMR in Indiana is $1,086, so ZIP 46250 is 56% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 46250
BedroomsFY 2027Change90–110% range
Studio$1,310+5.6%$1,179–$1,441
1BR$1,470+5.0%$1,323–$1,617
2BR$1,690+3.7%$1,521–$1,859
3BR$2,190+3.8%$1,971–$2,409
4BR$2,670+3.1%$2,403–$2,937

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 46250
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,310$1,470$1,690$2,190$2,670
FY 2026$1,240$1,400$1,630$2,110$2,590
FY 2025$1,110$1,270$1,490$1,940$2,360
FY 2024$1,150$1,340$1,580$2,060$2,490
FY 2023$910$1,050$1,250$1,640$1,960

Two-bedroom rent in nearby Marion County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 46250
46240$1,820+7.7%
46241$1,480−12.4%
46242$1,470−13.0%
46244$1,470−13.0%
46247$1,470−13.0%
46250Current$1,690—
46251$1,470−13.0%
46253$1,470−13.0%
46254$1,370−18.9%
46256$1,500−11.2%
46259$1,590−5.9%
46260$1,560−7.7%

Questions about ZIP 46250 rents

How much will Section 8 pay for a two-bedroom in ZIP 46250?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,690, that basic range is $1,521 to $1,859 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 46250 in?

ZIP 46250 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 46250 for FY 2027?

The two-bedroom FMR rose 3.7%, from $1,630 in FY 2026 to $1,690 in FY 2027. Since FY 2023 it has risen 35.2%.

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 rentIndianapolis, IN fair market rentIN statewide rentsWhat is SAFMR?Data sources