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FY2017 Hypothetical Small Area FMRs For Shelby County, IN

In metropolitan areas, HUD defines Small Areas using ZIP Codes within the metropolitan area. Using ZIP codes as the basis for FMRs provides tenants with greater ability to move into ?Opportunity Neighborhoods? with jobs, public transportation, and good schools. They also provide for multiple payment standards within a metropolitan area, and they are likely to reduce need for extensive market area rent reasonableness studies. Lastly, HUD hopes that setting FMRs for each ZIP code will reduce overpayment in lower-rent areas.

Shelby County is part of the Indianapolis-Carmel-Anderson, IN MSA.

Shelby County, IN Hypothetical Small Area FMRs By Unit Bedrooms
ZIP Code Efficiency One-Bedroom Two-Bedroom Three-Bedroom Four-Bedroom ZIP/CBSA Ratio
46110 $530 $620 $760 $1,010 $1,160 0.893
46124 $530 $610 $750 $990 $1,120 0.885
46126 $630 $720 $890 $1,180 $1,360 1.047
46130 $470 $550 $670 $890 $1,020 0.724
46131 $630 $730 $900 $1,200 $1,380 1.065
46144 $530 $620 $760 $1,010 $1,160 0.893
46150 $530 $620 $760 $1,010 $1,160 0.893
46161 $500 $580 $710 $940 $1,090 0.840
46162 $600 $700 $860 $1,140 $1,310 1.012
46163 $640 $740 $910 $1,210 $1,390 1.071
46176 $540 $630 $770 $1,020 $1,180 0.905
46182 $530 $620 $760 $1,010 $1,160 0.893
46259 $580 $680 $830 $1,100 $1,270 0.973
47234 $690 $800 $980 $1,300 $1,500 1.158
47240 $550 $640 $790 $1,050 $1,210 0.933
47246 $530 $620 $760 $1,010 $1,160 0.893
47272 $480 $560 $690 $920 $1,050 0.817

* Small Area FMRs presented with an asterisk are calculated in accordance with the Guidance For Preparing Comments on Small Area FMRs available at here.

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