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 |
ZIP 46867 in Fort Wayne, IN, is best suited as a cash-flow anchor within a Section 8 portfolio strategy. The HUD Fair Market Rent (FMR) for FY 2024 is $1,090, while the median rent is $1,440. This indicates that the FMR is significantly lower than the market rent, creating a substantial spread that benefits landlords participating in the Section 8 program.
The median household income in ZIP 46867 is $51,867, which is 100.1% higher than the state average, suggesting an affluent area. Despite this, the housing market remains moderately priced, with median home values at $271,471, reflecting a 100.6% increase over the state average. This combination of higher income and relatively stable home values supports the idea of ZIP 46867 as a reliable cash-flow anchor.
A cash-flow anchor is crucial for stabilizing a portfolio’s financial performance, especially during volatile market periods. In ZIP 46867, the consistent demand for rental properties, coupled with the favorable FMR-to-market rent spread, ensures steady and predictable cash flow for landlords. Additionally, the below-average cost of living index of 59 means that tenants’ dollars stretch further, potentially reducing turnover and vacancy rates.
The safety score of 86/100 indicates a very safe neighborhood with low crime rates, which can help maintain property values and reduce maintenance costs associated with vandalism or damage. Furthermore, the area's established nature and mature community suggest a stable tenant base, which is ideal for long-term rental investments.
In summary, ZIP 46867 is an excellent choice for a cash-flow anchor in a Section 8 portfolio due to its favorable FMR-to-market rent spread, stable tenant base, and overall livability score. Landlords can expect reliable income and reduced risks associated with property management.
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.