Location: Fort Wayne, IN | Metro: Fort Wayne, IN HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,030 |
| 1 Bedroom | $1,030 |
| 2 Bedrooms | $1,250 |
| 3 Bedrooms | $1,540 |
| 4 Bedrooms | $1,680 |
| 5 Bedrooms | $1,949 |
| 6 Bedrooms | $2,183 |
| 7 Bedrooms | $2,358 |
| 8 Bedrooms | $2,476 |
1090 The Fair Market Rent (FMR) for ZIP code 46853 in Indiana for fiscal year 2024 is set at $1090. This figure represents the maximum amount that landlords can charge for Section 8 rental assistance in this area. Given the lack of specific market rent data, it's crucial for landlords to understand that the FMR serves as a benchmark for rental prices in subsidized housing. Landlords should also be aware that there is no available information on the median home value, which typically would give insight into the general housing costs in the area.
1090 With the FMR at $1090, it's important to note that this is the highest amount that can be charged for a two-bedroom unit under the Section 8 program. However, without the median income data, it's challenging to assess the financial capability of potential tenants to afford these rents. It's essential for landlords to consider the broader economic context of the area when setting their own rents.
1090 In the absence of specific data on the percentage of renters in the area and the median income, landlords must rely on other sources to understand the local market dynamics. The lack of Days on Market (DOM) and price-cut share percentages means there is no immediate indication of how quickly properties are renting or the frequency of price reductions. This could suggest either a stable market or a lack of detailed reporting, both of which are significant considerations for small-portfolio investors.
1090 For landlords participating in the Section 8 program in ZIP 46853, the key figure to focus on is the $1090 FMR, which will guide your rental pricing decisions. While the missing data points create some uncertainty, understanding the FMR is critical for ensuring compliance and maximizing the potential for steady, government-backed rental income.
1090 Verdict: ZIP 46853 offers a straightforward Section 8 opportunity with a defined FMR, but the lack of additional market data requires careful consideration before investing.
Data Sources: FMR data from HUD (2027).
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.