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 is the Fair Market Rent (FMR) for ZIP 46863 as of fiscal year 2024, indicating the maximum amount that a Section 8 voucher holder can pay for rent and utilities combined. While the market rent data is currently unavailable, it suggests that landlords in this area might face challenges in setting competitive rents. The median home value and median income figures are also not available, which could imply limited recent transactions or reporting in this specific ZIP code.
The lack of detailed data on median home values and median incomes makes it challenging to assess the overall economic health of the area. However, given the FMR of $1090, landlords should ensure their properties meet the necessary standards to qualify for Section 8 vouchers. This includes maintaining cleanliness, safety, and adhering to property condition requirements set by HUD.
Investors considering entering the 46863 market should be cautious due to the incomplete data. However, the presence of Section 8 vouchers can provide a stable source of income, especially if the landlord can attract tenants with vouchers. The percentage of renters and the days-on-market (DOM) data are not available, which means there is insufficient information to determine the local rental market dynamics or competition levels.
A final note on the price-cut share, which is also not available, would have been useful to gauge how frequently landlords in this area need to reduce their asking prices to secure tenants. This absence further highlights the need for careful research and due diligence when making investment decisions in ZIP 46863.
Verdict: ZIP 46863 presents a mixed opportunity for Section 8 landlords, with a clear $1090 FMR but lacking crucial market data.
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.