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Housing market/Indiana/ZIP 46131

ACS 2023 · FY2027 SAFMR

ZIP 46131 Franklin, 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
35,502
Households
12,407
Median HH income
$81,914
Renter share
27.9%
Median gross rent
$1,114
Vacancy
5.7%
Pop. change
+9.7%
2BR SAFMR
$1,500
SAFMR / rent
1.346×
2–49 unit stock
1,439
LIHTC proj / units
4 / 468
HUD assisted MF
2 / 208

ZIP brief

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HUD schedule, ACS stock, and the 90–110% band for ZIP 46131 · IN — sent to you.

ZIP 46131 · IN

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ACS rent vs 2BR SAFMR

ZIP 46131 — Franklin, IN HUD Section 8 Payment Standards / SAFMR →
ACS median rent$1,114
2BR SAFMR$1,500
90% floor$1,350
110% ceiling$1,650

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

Housing stock

ACS 2023 units-in-structure · ZCTA 46131

  • 1-unit detached10,40879.1%
  • 1-unit attached5264.0%
  • 2–4 units5704.3%
  • 5–49 units8696.6%
  • 50+ units2962.3%
  • Mobile4823.7%
TypeUnitsShare
1-unit detached10,40879.1%
1-unit attached5264.0%
2 units (duplex)3132.4%
3–4 units2572.0%
5–9 units4063.1%
10–19 units3732.8%
20–49 units900.7%
50+ units2962.3%
Mobile4823.7%

2–4 unit share 4.3% · 5–49 unit share 6.6% · combined 2–49 10.9%.

Units by bedrooms

Studio
275
1BR
544
2BR
2,891
3BR
6,502
4BR
2,453
5+
486

Rent burden

Rent ≥30% of income43.5%
Rent ≥50% of income27.2%
  • ACS median gross rent $1,114 (all bedrooms, occupied rentals).
  • Median contract rent $942.
  • Renters paying ≥30% of income 43.5%; ≥50% 27.2%.
  • FY2027 2BR SAFMR $1,500 (1.346× ACS median gross rent).

Population

35,502 residents · ACS 2023

Change versus the 2018 ACS 5-year estimate: +9.7%.

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

Assisted inventory

  • LIHTC: 4 projects, 468 units.
  • HUD project-based assisted MF: 2 properties, 208 assisted units.
  • HCV household counts (Picture of Subsidized Households) are not on this page yet.

New apartment permits

About 93 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 46131 27.9% of occupied households are renters; vacancy is 5.7%; ACS median gross rent is $1,114; population increased +9.7% between the 2018 and 2023 ACS vintages; the housing stock includes 570 units in 2–4-unit structures and 869 units in 5–49-unit structures; 4 LIHTC projects totaling 468 units; FY2027 2BR SAFMR is $1,500 versus ACS median gross rent of $1,114. 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 46131 is a Census / HUD profile for Indianapolis-Carmel, IN. Not a listing page. Brokerage is Georgia; out-of-state work is referral.

ZIP 46131 — Franklin, 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 46131?

ZIP 46131 (Indianapolis-Carmel, IN HUD Metro FMR Area) has 35,502 residents, 12,407 households, a renter share of 27.9%, median household income of $81,914, and ACS 2023 median gross rent of $1,114. Vacancy is 5.7%. These are ZCTA estimates, not a property rent roll.

How much small multifamily housing is in 46131?

ACS counts 313 units in 2-unit buildings, 257 in 3–4 unit buildings, 406 in 5–9, 373 in 10–19, and 90 in 20–49. Combined 2–49 unit stock is 1,439 units. This is occupied-and-vacant stock, not listings for sale.

What is the Section 8 rent in 46131?

The Housing Choice Voucher benchmark is the FY2027 Small Area FMR. 2-bedroom SAFMR is $1,500. See the full schedule and 90–110% payment-standard band on the ZIP 46131 — Franklin, IN HUD Section 8 Payment Standards / SAFMR.

Does this Indiana ZIP profile include Georgia listings?

No. ZIP 46131 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.