Location: Wells 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 | $890 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,150 |
| 3 Bedrooms | $1,410 |
| 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 |
|---|---|---|---|---|
| 3BR | $1,410 | $215,164 | 0.66% | D |
U.S. Census Bureau data (2024)
The analysis of ZIP code 46799 reveals a market that leans towards steady cash flow rather than high-yield/low-stability. The Federal Market Rent (FMR) for the fiscal year 2024 is set at $1300, which indicates the maximum rent a Section 8 voucher holder can pay. Given that there is no available market rent figure, we rely on the FMR as a benchmark. The median home value in this area is $203,895, suggesting a moderate investment cost.
On the stability axis, the ZIP code shows signs of predictability. With 11.6% of the population being renters, the demand for rental properties is relatively stable but not exceptionally high. The median household income of $83,125 supports the ability of residents to maintain consistent rental payments. While the days-on-market (DOM) data is not available, the combination of the FMR and median income figures suggests that rental turnover might be manageable without significant vacancy risks.
To further clarify the classification, the FMR of $1300 provides a reliable rent ceiling, ensuring landlords receive a predictable income stream. This contrasts with the high-yield/low-stability model where rents might be higher but come with greater risk due to factors such as lower tenant income or higher vacancy rates. In ZIP 46799, the income level supports stable occupancy, reducing the volatility often associated with flip-style markets.
Given these specifics, ZIP 46799 appears to offer a balanced approach, favoring steady cash flow over speculative high yields. The absence of a day DOM figure does limit a full assessment of turnover speed, but based on the available data, the market is suitable for those seeking stable returns rather than quick flips.
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.