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 | $1,160 |
| 1 Bedroom | $1,160 |
| 2 Bedrooms | $1,410 |
| 3 Bedrooms | $1,730 |
| 4 Bedrooms | $1,900 |
| 5 Bedrooms | $2,204 |
| 6 Bedrooms | $2,468 |
| 7 Bedrooms | $2,665 |
| 8 Bedrooms | $2,798 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,410 | $207,016 | 0.68% | D |
| 3BR | $1,730 | $249,534 | 0.69% | D |
| 4BR | $1,900 | $317,795 | 0.6% | F |
| 5BR | $2,204 | $405,097 | 0.54% | F |
U.S. Census Bureau data (2024)
The real estate landscape in ZIP 46835, Fort Wayne, IN, presents a compelling scenario for both landlords and small-portfolio investors. The median home value stands at $258,366, indicating a relatively stable housing market. With only 0.2% of listings experiencing price reductions, it's evident that sellers maintain significant pricing power, suggesting a strong seller's market environment.
The median days on market (DOM) of 12 days further reinforces this notion. A short DOM implies high demand and quick sales, which can be attributed to low inventory levels or strong buyer interest. This dynamic supports the idea that prices are likely to remain firm or even rise slightly over the next 12-24 months, barring any major economic shifts.
On the rental side, the Fair Market Rent (FMR) for ZIP 46835 for fiscal year 2024 is set at $1,180, while the actual market rent, as measured by ZORI, is currently at $1,167. This suggests a slight upward pressure on rents, aligning with the overall stability and slight growth potential seen in the home value trends. For long-term investors, this combination of factors points toward a realistic appreciation thesis, albeit modest. The steady increase in home values and rents indicates a growing area where investment properties could see gradual value appreciation.
However, it's important to note that appreciation rates are expected to be moderate rather than exponential. The data implies a setup where investors can expect a reliable, albeit not spectacular, return on their investments, particularly if they focus on maintaining quality properties that meet the needs of renters and buyers alike. This scenario favors those who can hold onto properties for extended periods, leveraging the slow but steady growth in both home values and rental income.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.