Section 8 Fair Market Rent (FMR) for ZIP 46990 - 2027

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

Investment Score for ZIP 46990

N/A

Monthly Rent (2BR)

$1,060

Median Price (2BR)

$N/A

1% Rule

Annual Yield

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$800
1 Bedroom	$820
2 Bedrooms	$1,060
3 Bedrooms	$1,280
4 Bedrooms	$1,450
5 Bedrooms	$1,682
6 Bedrooms	$1,884
7 Bedrooms	$2,035
8 Bedrooms	$2,137

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
3BR	$1,280	$256,426	0.5%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

633

Median Household Income

$78,875

Housing Units

281

Renter Percentage

3.9%

Occupancy Rate

100.0%

Renter Occupied

ZIP code 46990, located in Indiana, offers a stable real estate market that is particularly appealing for small-portfolio investors and landlords seeking consistent returns. The area is characterized by a mix of residential properties, including single-family homes and apartments, which cater to both homeowners and renters.

The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,000, providing a benchmark for rental pricing.
Despite the lack of specific market rent data, the median home value stands at $249,767, indicating a moderate property price point.
Renters make up only 3.9% of the housing market, suggesting a preference for homeownership over renting.
The median income in the area is $78,875, reflecting a middle-class community with reasonable financial stability.
The Days on Market (DOM) figure is currently unavailable, but this metric would be crucial for understanding how quickly properties sell in the area.

Investors considering the ZIP code 46990 should note the relatively low renter share, which could affect demand for rental properties. However, the FMR and median home value provide a solid foundation for pricing strategies. The median income suggests that residents have the means to support mortgage payments or higher rents, making the area suitable for those looking to invest in owner-occupied homes or upscale rentals. Given the absence of specific market rent data, further research might be necessary to gauge the exact rental market dynamics and to determine if the area's rental offerings are competitive with the FMR.

Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.