Location: Wabash County, IN | Metro: Wabash County, IN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,220 |
| 4 Bedrooms | $1,370 |
| 5 Bedrooms | $1,589 |
| 6 Bedrooms | $1,780 |
| 7 Bedrooms | $1,922 |
| 8 Bedrooms | $2,018 |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors in ZIP code 46943, located in Wabash County, IN metro, reveals several key points. The HUD Fair Market Rent (FMR) for the area is set at $1,020 for fiscal year 2026. However, due to the lack of available market rent data, it's challenging to provide a direct comparison between the HUD FMR and the local market rates.
Based on the HUD FMR alone, voucher tenants in this region will cashflow at the FMR rate, assuming that the market rents do not significantly exceed the FMR. This suggests that landlords can expect a positive cash flow without having to rely on premium units, which are typically more expensive and less likely to be occupied by voucher holders.
The median home value in the area is $126,982. To derive the rent-to-price ratio, we use the HUD FMR of $1,020. Assuming an average annual rent of $12,240 (1,020 x 12), the rent-to-price ratio is approximately 9.64%. This indicates that rental income represents about 9.64% of the total property value annually, which is a reasonable figure for investment properties in this region.
Unfortunately, there is no data available regarding the median Days on Market (DOM) or the percentage of homes that have been discounted. These factors would normally influence the decision-making process for investors considering whether to buy or rent. In their absence, the primary focus remains on the positive cash flow potential offered by the HUD FMR rates.
The strongest investor angle in this market is cashflow. Given the expected positive cash flow from voucher tenants at the FMR rate, landlords and small-portfolio investors can look forward to steady income without the need for premium units. This makes ZIP 46943 an attractive option for those prioritizing reliable rental income over speculative appreciation or stability in property values.
Data Sources: FMR data from HUD (2027). 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.