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 |
The analysis of ZIP 46898 within the Fort Wayne, IN HUD Metro Fair Market Rent (FMR) area reveals several critical points for landlords and small-portfolio investors.
The Fair Market Rent for ZIP 46898 in fiscal year 2024 is set at $1090. However, without specific market rent data, it's challenging to determine if this aligns with what tenants are currently paying. This lack of information makes it difficult to assess whether the rent math works effectively in this area.
Regarding the affordability of acquisitions, the absence of data on median home values, days on market (DOM), and the percentage of homes that have been discounted due to prolonged listing periods leaves a significant gap in understanding the local real estate market dynamics. Landlords would need to seek out these metrics to make informed decisions about property purchases.
Tenant demand can be gauged by looking at the population size and the percentage of residents who are renters. Unfortunately, the data does not provide these figures for ZIP 46898, making it impossible to evaluate the potential pool of tenants accurately.
Verdict: The analysis of ZIP 46898 is hampered by a lack of comprehensive data. While the Fair Market Rent provides a benchmark for rental pricing at $1090, the absence of market rent, median home values, days on market, price-cut shares, and tenant demographic data means that landlords and investors cannot fully assess the viability of this area for their investment strategies. Additional research into these areas is essential before making any investment decisions in ZIP 46898.
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.