Section 8 Fair Market Rent (FMR) for ZIP 46980 - 2027

Location: Wabash County, IN | Metro: Wabash County, IN

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$760
1 Bedroom	$780
2 Bedrooms	$1,010
3 Bedrooms	$1,210
4 Bedrooms	$1,360
5 Bedrooms	$1,578
6 Bedrooms	$1,767
7 Bedrooms	$1,908
8 Bedrooms	$2,003

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

Median Household Income

$N/A

Housing Units

Renter Percentage

N/A

Occupancy Rate

100.0%

Renter Occupied

A skeptical investor might question whether the Fair Market Rent (FMR) of $1,000 for ZIP 46980 in fiscal year 2026 will be sufficient to cover the mortgage on a typical home in the area. Unfortunately, the data provided does not specify the average home price in ZIP 46980, making it challenging to give a definitive answer. However, we can analyze the rental market trends and voucher usage to provide a clearer picture.

The investor may also doubt if there is enough renter demand at a reported 0.0% vacancy rate. According to the latest data, the statewide rental vacancy rate in Indiana is 10.10%, indicating that ZIP 46980 has a much tighter rental market. A 0.0% vacancy rate suggests strong demand, but it could also mean that finding tenants quickly might be difficult due to limited availability. This low rate could be a result of a small sample size or recent changes in the local rental market.

Another concern is whether housing vouchers will keep pace with market rents in ZIP 46980. The HUD Fair Market Rent (FMR) for the area is set at $1,000, but without specific data on the value of housing vouchers in this ZIP code, it's hard to make a direct comparison. Generally, housing vouchers aim to cover a significant portion of market rents, but the exact amount varies based on individual circumstances and the specific voucher program.

To summarize:

Will FMR $1,000 cover the mortgage?: Insufficient data on average home prices in ZIP 46980 to conclusively answer this question.
Is there enough renter demand at 0.0%?: Strong demand, but the low vacancy rate may indicate challenges in quickly filling units.
Will vouchers keep pace with market rents?: Vouchers typically aim to cover a substantial portion of market rents, but precise figures for ZIP 46980 are unavailable.

Investors should consider these factors when evaluating the potential returns and risks associated with investing in ZIP 46980.

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.