Location: Adams 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 | $840 |
| 1 Bedroom | $910 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,320 |
| 4 Bedrooms | $1,450 |
| 5 Bedrooms | $1,682 |
| 6 Bedrooms | $1,884 |
| 7 Bedrooms | $2,035 |
| 8 Bedrooms | $2,137 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,060 | $211,633 | 0.5% | F |
| 3BR | $1,320 | $310,192 | 0.43% | F |
| 4BR | $1,450 | $415,019 | 0.35% | F |
U.S. Census Bureau data (2024)
The ZIP code 46745, located in Hoagland, Indiana, stands out within Allen County due to its unique demographic and economic characteristics. With a population of 1,793 residents, only 2.2% are renters, indicating a predominantly owner-occupied area. The median income in this ZIP is $89,643, which is relatively high compared to national averages. Additionally, the median home value is impressively high at $308,926, reflecting the affluent nature of the community.
Turning to the voucher economics, the Fair Market Rent (FMR) for ZIP 46745 in fiscal year 2024 is set at $1,170. However, there is no available data on the market rent for the area, making it difficult to compare the FMR with actual rental rates. This lack of market rent data could suggest either that rental properties are scarce or that the focus on homeownership is so strong that rental data is not widely tracked or reported.
Given the data signature of ZIP 46745, the area reads as stable rather than transitional. The high median income and median home value indicate a settled, prosperous community where long-term homeownership is the norm. The low percentage of renters further supports this stability, as it suggests that most residents have the financial means to purchase homes rather than rent them. This stability is beneficial for landlords and small-portfolio investors who prefer a predictable market environment with minimal fluctuations in property values and occupancy rates.
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.