Location: Wabash County, IN | Metro: Miami County, IN
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 | $780 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,260 |
| 4 Bedrooms | $1,440 |
| 5 Bedrooms | $1,670 |
| 6 Bedrooms | $1,870 |
| 7 Bedrooms | $2,020 |
| 8 Bedrooms | $2,121 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,030 | $167,888 | 0.61% | D |
| 3BR | $1,260 | $213,066 | 0.59% | F |
| 4BR | $1,440 | $232,452 | 0.62% | D |
U.S. Census Bureau data (2024)
The analysis of ZIP code 46911, located in Amboy, Indiana, reveals a unique blend of yield and stability that does not fit neatly into either a high-yield/low-stability flip-style market or a steady-cashflow zone. Instead, it represents a middle ground where opportunities for decent cash flow exist, but with some inherent risks.
On the yield axis, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is projected at $980, while the actual market rent is slightly lower at $979. This indicates that the rental income potential is relatively stable and close to the benchmark set by the government, suggesting a competitive local market. The median home value in the area stands at $195,657, which is a key figure for determining the capital investment required for properties in this ZIP code.
Moving to the stability axis, the percentage of renters in the area is only 5.3%, which is quite low. This suggests that there is limited demand for rental properties, potentially leading to higher vacancy rates and increased competition among landlords. Additionally, the average daily days on market (DOM) is not available, which could be due to a lack of recent sales data or a very slow market. However, the median household income in the area is $95,122, indicating that tenants who do rent here have a strong ability to pay their rent on time, which supports the stability aspect of the market.
To summarize, ZIP 46911 presents an environment where landlords can expect moderate rental yields, given the close alignment of FMR and market rents. However, the low percentage of renters poses a significant risk to maintaining consistent occupancy, which is crucial for steady cash flow. Despite this, the higher median household income provides some assurance regarding the financial reliability of potential tenants.
Landlords and small-portfolio investors considering this ZIP code should weigh the potential for decent rental returns against the challenges of a low-renter market. It is advisable to conduct further localized research and consider diversifying across multiple ZIP codes to mitigate risks associated with low tenant demand.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.