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 | $1,190 |
| 1 Bedroom | $1,210 |
| 2 Bedrooms | $1,480 |
| 3 Bedrooms | $1,820 |
| 4 Bedrooms | $1,980 |
| 5 Bedrooms | $2,297 |
| 6 Bedrooms | $2,573 |
| 7 Bedrooms | $2,779 |
| 8 Bedrooms | $2,918 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,480 | $231,983 | 0.64% | D |
| 3BR | $1,820 | $357,383 | 0.51% | F |
| 4BR | $1,980 | $448,733 | 0.44% | F |
| 5BR | $2,297 | $598,065 | 0.38% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 46765 in Indiana for fiscal year 2024 is set at $1,180. This figure represents the maximum amount that a landlord can receive through the Section 8 Housing Choice Voucher program for a unit in this area. It's important to note that this is not the amount you should set your rent to; it's the payment standard used by the housing authority to determine how much they will cover for eligible tenants.
In comparison, the average market rent in ZIP 46765, based on recent Census American Community Survey (ACS) data, is $1,243. This suggests that while your rental income might be slightly lower due to the Section 8 voucher cap, it remains competitive with the local market rates. The difference between the FMR and the actual market rent indicates that there could still be opportunities to charge higher rents to non-voucher tenants if you choose to do so.
The renter share in this ZIP code is 4.1%, which means that just over 4% of the population are renters. While this percentage may seem low, it still translates into a significant number of potential tenants who could benefit from Section 8 vouchers. To put this into perspective, the median home value in the area is approximately $390,392, indicating that homeownership is relatively expensive and out of reach for many residents. This makes the demand for affordable rentals, particularly those that accept Section 8 vouchers, quite strong.
Before deciding to participate in the Section 8 program, verify that your property meets all the required standards for habitability and safety. This includes ensuring that the unit is free from lead-based paint hazards and complies with any other local housing codes. If your rental unit meets these criteria, participating in Section 8 can provide a stable source of income and help you fill vacancies with qualified 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.