Location: DeKalb County, IN | Metro: Fort Wayne, IN HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $780 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,290 |
| 4 Bedrooms | $1,370 |
| 5 Bedrooms | $1,589 |
| 6 Bedrooms | $1,780 |
| 7 Bedrooms | $1,922 |
| 8 Bedrooms | $2,018 |
U.S. Census Bureau data (2024)
Auburn, IN, located in ZIP code 46706, stands out within De Kalb County due to its unique demographic and economic characteristics. With a population of 20,403 residents, Auburn has a relatively low rental rate at 18.5%, indicating that homeownership is prevalent. The median household income in Auburn is $80,965, which is above the national average, suggesting a financially stable community. Additionally, the median home value of $274,962 reflects the strong real estate market in the area.
The economics of Section 8 vouchers in Auburn are particularly noteworthy. For fiscal year 2024, the Fair Market Rent (FMR) for Auburn is set at $980. This figure is higher than the market rent, which is estimated at $858 based on Census American Community Survey (ACS) data. This discrepancy means that landlords participating in the Section 8 program can expect to receive slightly more than the typical market rate, making it a favorable option for property owners looking to ensure steady rental income.
Based on the data signature, Auburn appears to be a stable market. The high median home value combined with a healthy median income indicates a robust local economy. Furthermore, the slight premium offered by the Section 8 voucher program over the market rent suggests that there is a demand for affordable housing options without compromising on rental rates. Landlords and small-portfolio investors should find Auburn a reliable location for their real estate investments, especially if they consider participating in the Section 8 program to capitalize on the guaranteed income and support the local community's need for affordable housing.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.