Location: Noble County, IN | Metro: Fort Wayne, IN HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $980 |
| 1 Bedroom | $980 |
| 2 Bedrooms | $1,200 |
| 3 Bedrooms | $1,470 |
| 4 Bedrooms | $1,620 |
| 5 Bedrooms | $1,879 |
| 6 Bedrooms | $2,104 |
| 7 Bedrooms | $2,272 |
| 8 Bedrooms | $2,386 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $980 | $161,941 | 0.61% | D |
| 2BR | $1,200 | $214,943 | 0.56% | F |
| 3BR | $1,470 | $294,224 | 0.5% | F |
| 4BR | $1,620 | $364,084 | 0.44% | F |
| 5BR | $1,879 | $472,164 | 0.4% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP 46725, which includes Columbia City, Indiana, is set at $1030 for fiscal year 2024. This figure represents the payment standard for Section 8 housing vouchers, meaning that voucher holders will receive up to $1030 per month to cover their rent. However, it's important to note that this is not the amount you can charge as rent; it's the maximum subsidy the government will provide.
In comparison, the average rent in Columbia City based on Census American Community Survey (ACS) data is $968. This indicates that the FMR is slightly higher than the typical market rent, which could be beneficial for landlords who want to ensure they receive a competitive rate.
The 19.5% share of renters in the area suggests there is a moderate demand for rental properties. With nearly one-fifth of the population renting, there is a steady pool of potential tenants who might qualify for Section 8 vouchers. The median home value in the area is around $279,255, which gives an indication of the acquisition cost if you're looking to purchase a property for your rental portfolio.
Before committing to a Section 8 rental, it's crucial to verify that the property meets all the required standards for the program. This includes ensuring that the unit passes a Housing Quality Standards (HQS) inspection, which checks for basic safety and habitability. The inspection covers areas such as structural integrity, heating, plumbing, electrical systems, and more. If the property fails any part of the HQS inspection, it cannot be rented under the Section 8 program until it meets these standards.
By confirming that your property meets these standards, you can proceed with confidence knowing that it is eligible for the Section 8 program. This preparation will save time and prevent complications once you start advertising the property to potential tenants.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.