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Housing market/Indiana/ZIP 46254

ACS 2023 · FY2027 SAFMR

ZIP 46254 Indianapolis, Indiana

Indianapolis-Carmel, IN HUD Metro FMR Area · Indiana. Census housing stock, renter economics, HUD SAFMR, LIHTC, and population change. Not a listing page and not a buy/sell score.

Population
40,263
Households
17,015
Median HH income
$57,825
Renter share
52.0%
Median gross rent
$1,021
Vacancy
5.2%
Pop. change
-0.8%
2BR SAFMR
$1,370
SAFMR / rent
1.342×
2–49 unit stock
6,712
LIHTC proj / units
6 / 821
HUD assisted MF
3 / 243

ZIP brief

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HUD schedule, ACS stock, and the 90–110% band for ZIP 46254 · IN — sent to you.

ZIP 46254 · IN

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ACS rent vs 2BR SAFMR

ZIP 46254 — Indianapolis, IN HUD Section 8 Payment Standards / SAFMR →
ACS median rent$1,021
2BR SAFMR$1,370
90% floor$1,233
110% ceiling$1,507

ACS median is all-bedroom occupied rent. SAFMR is the 2-bedroom HCV benchmark.

Housing stock

ACS 2023 units-in-structure · ZCTA 46254

  • 1-unit detached7,78943.4%
  • 1-unit attached2,75915.4%
  • 2–4 units3,01016.8%
  • 5–49 units3,70220.6%
  • 50+ units5423.0%
  • Mobile1530.9%
TypeUnitsShare
1-unit detached7,78943.4%
1-unit attached2,75915.4%
2 units (duplex)2261.3%
3–4 units2,78415.5%
5–9 units2,12711.8%
10–19 units1,4298.0%
20–49 units1460.8%
50+ units5423.0%
Mobile1530.9%

2–4 unit share 16.8% · 5–49 unit share 20.6% · combined 2–49 37.4%.

Units by bedrooms

Studio
426
1BR
3,599
2BR
5,727
3BR
6,395
4BR
1,315
5+
493

Rent burden

Rent ≥30% of income41.8%
Rent ≥50% of income17.1%
  • ACS median gross rent $1,021 (all bedrooms, occupied rentals).
  • Median contract rent $860.
  • Renters paying ≥30% of income 41.8%; ≥50% 17.1%.
  • FY2027 2BR SAFMR $1,370 (1.342× ACS median gross rent).

Population

40,263 residents · ACS 2023

Change versus the 2018 ACS 5-year estimate: -0.8%.

ACS 5-year estimates lag current construction. This is not a forecast.

Assisted inventory

  • LIHTC: 6 projects, 821 units.
  • HUD project-based assisted MF: 3 properties, 243 assisted units.
  • HCV household counts (Picture of Subsidized Households) are not on this page yet.

New apartment permits

About 285 new apartments in 5+ unit buildings may have been permitted in this ZIP’s share of the county. That is units (doors), not a building count.

Cities and counties report building permits to the Census. Apartment counts are for the whole county, not a project list in this ZIP.

What the data shows

ZIP 46254 52.0% of occupied households are renters; vacancy is 5.2%; ACS median gross rent is $1,021; population changed -0.8% between the 2018 and 2023 ACS vintages; the housing stock includes 3,010 units in 2–4-unit structures and 3,702 units in 5–49-unit structures; 6 LIHTC projects totaling 821 units; FY2027 2BR SAFMR is $1,370 versus ACS median gross rent of $1,021. These figures describe the underlying housing market, not the cash flow of any one property. Asking rents, expenses, condition, taxes, insurance, and the rent roll have to be underwritten separately.

Indiana research

ZIP 46254 is a Census / HUD profile for Indianapolis-Carmel, IN. Not a listing page. Brokerage is Georgia; out-of-state work is referral.

ZIP 46254 — Indianapolis, IN HUD Section 8 Payment Standards / SAFMR·Indiana ZIP directory

Nearby ZIPs in this FMR area

ZIPPlaceRentersMed. rent2BR SAFMR
46030Indianapolis-Carmel, IN HUD Metro FMR Area20.9%$951$1,27046032Indianapolis-Carmel, IN HUD Metro FMR Area33.0%$1,522$2,14046033Indianapolis-Carmel, IN HUD Metro FMR Area13.1%$1,597$2,16046034Indianapolis-Carmel, IN HUD Metro FMR Area13.4%$1,038$1,41046037Indianapolis-Carmel, IN HUD Metro FMR Area18.7%$1,463$2,02046038Indianapolis-Carmel, IN HUD Metro FMR Area31.4%$1,489$1,99046040Indianapolis-Carmel, IN HUD Metro FMR Area13.2%$1,344$1,62046052Indianapolis-Carmel, IN HUD Metro FMR Area25.2%$911$1,28046055Indianapolis-Carmel, IN HUD Metro FMR Area14.7%$1,596$2,09046060Indianapolis-Carmel, IN HUD Metro FMR Area31.0%$1,215$1,66046061Indianapolis-Carmel, IN HUD Metro FMR Area——$1,96046062Indianapolis-Carmel, IN HUD Metro FMR Area19.3%$1,458$1,870

Census ZIP areas approximate mail ZIPs. Sources: Census ACS 5-year 2023, HUD FY2027 Small Area FMR, HUD LIHTC and assisted multifamily lists, Census building permits (county). This page is Indiana research. Brokerage is Georgia.

FAQ

What is the housing market like in ZIP 46254?

ZIP 46254 (Indianapolis-Carmel, IN HUD Metro FMR Area) has 40,263 residents, 17,015 households, a renter share of 52.0%, median household income of $57,825, and ACS 2023 median gross rent of $1,021. Vacancy is 5.2%. These are ZCTA estimates, not a property rent roll.

How much small multifamily housing is in 46254?

ACS counts 226 units in 2-unit buildings, 2,784 in 3–4 unit buildings, 2,127 in 5–9, 1,429 in 10–19, and 146 in 20–49. Combined 2–49 unit stock is 6,712 units. This is occupied-and-vacant stock, not listings for sale.

What is the Section 8 rent in 46254?

The Housing Choice Voucher benchmark is the FY2027 Small Area FMR. 2-bedroom SAFMR is $1,370. See the full schedule and 90–110% payment-standard band on the ZIP 46254 — Indianapolis, IN HUD Section 8 Payment Standards / SAFMR.

Does this Indiana ZIP profile include Georgia listings?

No. ZIP 46254 is Census / HUD research for Indianapolis-Carmel, IN HUD Metro FMR Area. Jeff Crowe CRE does not list Indiana property. Licensed brokerage is Georgia. If you use this stock table and then buy in Georgia, live FMLS Residential Income is on multifamily for sale in Georgia.