Location: Huntington County, IN | Metro: Wells County, IN HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $860 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,140 |
| 3 Bedrooms | $1,470 |
| 4 Bedrooms | $1,810 |
| 5 Bedrooms | $2,100 |
| 6 Bedrooms | $2,352 |
| 7 Bedrooms | $2,540 |
| 8 Bedrooms | $2,667 |
U.S. Census Bureau data (2024)
A skeptical investor might raise several concerns regarding ZIP 46792 (Warren, IN), which can be addressed using available data.
The Fair Market Rent (FMR) of $1,100 in Warren, IN, for fiscal year 2026, is likely insufficient to cover the mortgage on a $227,116 home. Based on typical mortgage rates and down payments, the monthly mortgage payment could exceed this amount, leaving a gap that would need to be covered by other income sources.
The 26.1% renter-occupied rate suggests that nearly one-quarter of households in ZIP 46792 are renters. While this percentage indicates a modest level of rental demand, it does not guarantee profitability. The total number of households and the vacancy rate would provide a clearer picture of the potential rental market size and competition.
The market rent of $941 in ZIP 46792 is slightly below the FMR. However, whether voucher amounts will keep up with these market rents depends on federal funding and policy changes. Historically, voucher amounts have not always matched the FMR, leading to situations where landlords must decide between accepting lower rents or finding tenants willing to pay the difference.
In summary, while the data provides some insights into the real estate market in ZIP 46792, additional details such as the total number of households, vacancy rates, and historical trends in voucher allocation would be necessary to fully assess the viability of investing in this area.
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.