Location: Fort Wayne, 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 | $1,360 |
| 1 Bedroom | $1,360 |
| 2 Bedrooms | $1,650 |
| 3 Bedrooms | $2,030 |
| 4 Bedrooms | $2,220 |
| 5 Bedrooms | $2,575 |
| 6 Bedrooms | $2,884 |
| 7 Bedrooms | $3,115 |
| 8 Bedrooms | $3,271 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,650 | $396,737 | 0.42% | F |
| 3BR | $2,030 | $315,363 | 0.64% | D |
| 4BR | $2,220 | $454,725 | 0.49% | F |
U.S. Census Bureau data (2024)
The ZIP code 46741, located in Grabill, Indiana, within Allen County, stands out due to its unique demographic and economic characteristics. With a population of 4,713 residents, only 8.1% are renters, indicating a predominantly owner-occupied community. The median income in Grabill is $102,281, which is notably higher than the national average, reflecting a prosperous local economy. Furthermore, the median home value of $368,255 suggests a stable housing market with relatively high property values.
When it comes to Section 8 voucher economics, the Fair Market Rent (FMR) for ZIP 46741 is set at $1,250 for fiscal year 2024. This figure is slightly below the Census American Community Survey (ACS) estimate of $1,307 for the market rate. This discrepancy indicates that landlords participating in the Section 8 program can expect a rental rate that is marginally lower than the typical market rate, but still reasonable given the overall economic conditions of the area.
The data signature for Grabill, IN, suggests a stable environment. The low percentage of renters and high median income indicate a strong preference for homeownership among residents, which is likely to continue. Additionally, the close alignment between the FMR and market rates for rentals implies that the housing market is balanced and unlikely to experience significant fluctuations. For landlords and small-portfolio investors, this stability presents a reliable investment opportunity, especially considering the solid economic foundation and the steady demand for rental properties at the subsidized rates offered by the Section 8 program.
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.