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Allen County/Arcola/46704

46704

ZIPSAFMR
Allen County, IN
Zillow
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ZIP Investment Score

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095130300
BRFMR
Eff. Rent
0 BR$1,290$1,370
1 BR$1,290$1,350
2 BR$1,570$1,620
3 BR$1,930$1,820
4 BR$2,110$2,180
5 BR$2,427Not available
6 BR$2,790Not available
7 BR$3,209Not available
8 BR$3,690Not available

Purchase Price Calculator

Maximum purchase price
$178,815

Cost breakdown

+Likely effective rent$1,620
HUD FMR$1,570
Market rent$1,640
Est. payment standard (103%)Used$1,620
-Principal and interest-$904
Loan amount$143,052
Down payment$35,763
Rate6.50%
Term30 years
-Operating costs-$516
Property taxes-$179
Insurance-$175
Utilities$0
HOA$0
Management-$162
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$26,074(72.9% ROI)
Projected value
$192,564
Return breakdown
Property appreciation+$13,749
Loan principal paid down+$5,125
Rental cash flow+$7,200
5-year hold
+$44,637(124.8% ROI)
Projected value
$202,313
Return breakdown
Property appreciation+$23,498
Loan principal paid down+$9,140
Rental cash flow+$12,000
10-year hold
+$95,861(268.0% ROI)
Projected value
$228,898
Return breakdown
Property appreciation+$50,083
Loan principal paid down+$21,778
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.91
1 BR
0.93
2 BR
0.96
3 BR
1.06
4 BR
0.95
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
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Tax rate
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Mortgage rate
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ZIP 46704 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 46704 (Arcola, IN) is $1,570 a month. That is up 11.3% from $1,410 in FY 2026. Arcola is in the Fort Wayne, IN HUD Metro FMR Area, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 58 ZIP codes in Allen County, 46704 is tied for the 4th-highest two-bedroom rent (county range $1,010–$1,870). The median county two-bedroom FMR in Indiana is $1,086, so ZIP 46704 is 45% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 46704
BedroomsFY 2027Change90–110% range
Studio$1,290+14.2%$1,161–$1,419
1BR$1,290+11.2%$1,161–$1,419
2BR$1,570+11.3%$1,413–$1,727
3BR$1,930+10.3%$1,737–$2,123
4BR$2,110+9.9%$1,899–$2,321

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 46704
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,290$1,290$1,570$1,930$2,110
FY 2026$1,130$1,160$1,410$1,750$1,920
FY 2025$1,180$1,240$1,500$1,890$2,040
FY 2024$1,020$1,110$1,350$1,710$1,860
FY 2023$790$900$1,100$1,400$1,530

Two-bedroom rent in nearby Allen County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 46704
46704Current$1,570—
46706$1,040−33.8%
46723$1,010−35.7%
46725$1,200−23.6%
46733$1,020−35.0%
46741$1,650+5.1%
46743$1,240−21.0%
46745$1,060−32.5%
46748$1,510−3.8%
46765$1,480−5.7%
46773$1,080−31.2%
46774$1,230−21.7%

Questions about ZIP 46704 rents

How much will Section 8 pay for a two-bedroom in ZIP 46704?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,570, that basic range is $1,413 to $1,727 a month. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is ZIP 46704 in?

ZIP 46704 is in the Fort Wayne, IN HUD Metro FMR Area. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.

How much did fair market rent change in ZIP 46704 for FY 2027?

The two-bedroom FMR rose 11.3%, from $1,410 in FY 2026 to $1,570 in FY 2027. Since FY 2023 it has risen 42.7%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set

County fair market rentArcola, IN fair market rentIN statewide rentsWhat is SAFMR?Data sources