ZIP 46254 fair market rent
Rent benchmarks by bedroom, with local comparisons and rental-housing estimates.
3-bedroom gross-rent benchmark
$1,860 / month
+17.0% from FY2025
FY2026 · current · effective Oct 1, 2025
Includes tenant-paid basic utilities. HUD benchmarks are not asking rents or approved voucher payments.
Published HUD schedules
Selected bedroom count. Schedule changes are not observed rent growth.
Rent by bedroom
| Bedrooms | FY2025 | FY2026 | FY2027 · upcoming |
|---|---|---|---|
| Studio | $910 | $1,090 | $1,060 |
| 1 bedroom | $1,040 | $1,240 | $1,190 |
| 2 bedrooms | $1,220 | $1,440 | $1,370 |
| 3 bedrooms | $1,590 | $1,860 | $1,780 |
| 4 bedrooms | $1,930 | $2,290 | $2,160 |
Compare ZIP benchmarks
Other ZIPs in the same HUD area. These are rent comparisons, not property-specific comps.
Rental housing in ZCTA 46254
2020–2024 ACS 5-year. Census ZCTAs approximate postal ZIP codes; their boundaries are not identical.
Renter-occupied homes
8,493
50.5% of occupied homes are rented.
Rental home types
- Single-unit houses
- 21.6%
- Buildings with 2–4 units
- 28.7%
- Buildings with 5+ units
- 49.7%
- Other rental housing
- 0.0%
Rent as a share of income
41.0%
Spend at least 30% of household income on gross rent.
20.1% spend at least half.
Estimates, margins of error & definitions
These are pooled 2020–2024 survey estimates, not current listing data. Single-unit houses include detached and attached homes. Rent-burden percentages exclude households for which the ratio could not be calculated.
| Measure | Estimate | Margin of error |
|---|---|---|
| Renter-occupied homes | 8,493 | ± 671 |
| Renter share of occupied homes | 50.5% | ± 3.2 pp |
| Single-unit houses | 21.6% | ± 6.2 pp |
| Buildings with 2–4 units | 28.7% | ± 6.2 pp |
| Buildings with 5+ units | 49.7% | ± 7.4 pp |
| Other rental housing | 0.0% | ± 0.4 pp |
| Rent is 30% or more of income | 41.0% | ± 7.7 pp |
| Rent is 50% or more of income | 20.1% | ± 5.2 pp |
U.S. Census Bureau, 2020–2024 ACS 5-year tables B25003, B25032 and B25070. Statistical guidance.
Download Census estimates & margins of errorUse this rent in a property analysis
Adjust for tenant-paid utilities or enter the rent you expect to collect.
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HUD sources, dates & coverage
HUD Small Area Fair Market Rents are monthly gross-rent benchmarks for postal ZIP codes. They include basic tenant-paid utilities, excluding phone, cable and internet. They do not determine an individual housing authority's payment standard, approved rent or a tenant's subsidy.
Indianapolis-Carmel, IN HUD Metro FMR Area. FY2025 ZIP schedule (effective Oct 1, 2024; source file revised Apr 28, 2025) · FY2026 ZIP schedule (effective Oct 1, 2025; source file revised May 21, 2026) · FY2027 ZIP schedule (effective Oct 1, 2026).
HUD data checked Sep 22, 2026. Census context: 2020–2024 ACS 5-year. How Census ZCTAs differ from postal ZIP codes.