Location: Fort Wayne, IN | Metro: Fort Wayne, IN HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $990 |
| 1 Bedroom | $990 |
| 2 Bedrooms | $1,210 |
| 3 Bedrooms | $1,490 |
| 4 Bedrooms | $1,630 |
| 5 Bedrooms | $1,891 |
| 6 Bedrooms | $2,118 |
| 7 Bedrooms | $2,287 |
| 8 Bedrooms | $2,401 |
U.S. Census Bureau data (2024)
ZIP code 46815 in Fort Wayne, Indiana, is a notable area within Allen County due to its unique demographic and economic characteristics. With a population of 27,238 residents, it stands out as having a rental rate of 24.9%, which is slightly below the national average. The median income in this ZIP is $73,238, providing a solid financial base for the community. However, the median home value at $242,223 is relatively high compared to other areas in the city, indicating a mix of affordability and value.
For landlords and small-portfolio investors, understanding the dynamics of Section 8 housing vouchers is crucial. In ZIP 46815, the Fair Market Rent (FMR) for fiscal year 2024 is set at $1,080, while the market rent, as measured by ZORI (Zillow Observed Rent Index), is $1,237. This means that landlords accepting Section 8 vouchers can expect a slight discount on market rates, but still receive a competitive rental income that reflects the area's economic strength. The difference between the FMR and market rent suggests that the demand for affordable housing is significant, making Section 8 properties attractive to tenants who need assistance.
The data signature for ZIP 46815 reads as stable. The population size and median income levels indicate a consistent economic environment, while the median home value suggests a robust real estate market. The slight disparity between FMR and market rents points to a steady demand for both subsidized and market-rate rentals, without signaling rapid changes or instability. This stability is beneficial for long-term investments and provides a reliable framework for property management decisions.
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.