Most of Carmel is in Hamilton County, where a full-time job needs to pay at least $47.86 an hour before taxes to take home four times the typical studio rent.
Across the 3 ZIP codes in Carmel with HUD rent figures, studio rents run from $1,520 to $1,670 a month. At the middle rent, $1,650, a full-time job would need to pay $54.36 an hour before taxes.
What the standard would be at each ZIP code's own studio rent. The calculator and the official standard use the county figure.
| ZIP | County | Studio rent | Pay needed |
|---|---|---|---|
| 46032 | Hamilton County | $1,650/mo | $54.36/hr |
| 46033 | Hamilton County | $1,670/mo | $55.10/hr |
| 46082 | Hamilton County | $1,520/mo | $49.53/hr |
Under the Four Times Rent standard, a full-time job in Carmel needs to pay at least $47.86 an hour before taxes, about $99,557 a year. That is the figure for Hamilton County, where the typical studio rent is $1,475 a month.
Yes. Across the 3 ZIP codes in Carmel with HUD rent figures, studio rents run from $1,520 to $1,670 a month. At the middle rent of $1,650, the pay needed would be $54.36 an hour.
The minimum wage in Hamilton County is $7.25 an hour. The Four Times Rent standard there is 6.6 times that.
The Four Times Rent standard: a month of full-time work (160 hours) should take home at least four times the typical rent on a studio apartment in the county where the work is done. Rents: HUD FY2027 Fair Market Rents. Taxes: 2026 federal and state income taxes plus Social Security and Medicare, for a single filer. Why four times rent? · Method and data downloads