Location: Wabash County, IN | Metro: Wabash County, IN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $900 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,200 |
| 3 Bedrooms | $1,440 |
| 4 Bedrooms | $1,610 |
| 5 Bedrooms | $1,868 |
| 6 Bedrooms | $2,092 |
| 7 Bedrooms | $2,259 |
| 8 Bedrooms | $2,372 |
U.S. Census Bureau data (2024)
0.0% of the population in ZIP 46984 rents their homes, indicating a predominantly owner-occupied area. This statistic suggests that landlords might find limited opportunities for traditional rental investments in this region. However, for those interested in Section 8 housing, the figures paint a different picture. $1,090 is the Fair Market Rent (FMR) for the metro area as of fiscal year 2026, which represents the maximum amount that a Section 8 tenant can pay for housing in this area. Despite the low renter share, this FMR figure provides a benchmark for potential rental income under the Section 8 program.
$209,301 is the median home value in ZIP 46984, reflecting the average price of homes in the area. While this figure is useful for understanding the general property values, it does not directly correlate with the success of Section 8 investments due to the nature of the program focusing on rental rather than purchase prices. The lack of data on median income and days on market (DOM) means that assessing the financial health of potential tenants and the competition for rentals must be done through other means, such as local real estate associations or direct inquiries with residents.
N/A is the reported median income for ZIP 46984, leaving a gap in our understanding of the economic profile of the area's residents. This absence of information makes it challenging to gauge the eligibility of local residents for the Section 8 program without additional research. Similarly, the N/A percentage for price-cut share indicates no significant discounts on property prices, suggesting a stable market but also potentially higher entry costs for new investors.
In conclusion, while the traditional rental market in ZIP 46984 appears limited due to the 0.0% renter share, the Section 8 program offers a defined path for investment with a set FMR of $1,090. The median home value at $209,301 provides a context for property costs, but further investigation into local economic conditions and tenant eligibility is recommended before making any investment decisions. Verdict: Suitable for Section 8 investments with careful consideration of local economic factors.
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.