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Allen County/Fort Wayne/46805

46805

ZIPSAFMR
Allen County, IN
Zillow

ZIP Investment Score

96Above average

095130300
BRFMR
Eff. Rent
0 BR$920$820
1 BR$920$860
2 BR$1,120$1,120
3 BR$1,380$1,390
4 BR$1,510$1,530
5 BR$1,736Not available
6 BR$1,997Not available
7 BR$2,297Not available
8 BR$2,641Not available

Purchase Price Calculator

Maximum purchase price
$104,515

Cost breakdown

+Likely effective rent$1,120
HUD FMR$1,120
Market rent$1,120
Est. payment standard (100%)Used$1,120
-Principal and interest-$528
Loan amount$83,612
Down payment$20,903
Rate6.50%
Term30 years
-Operating costs-$392
Property taxes-$105
Insurance-$175
Utilities$0
HOA$0
Management-$112
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$18,232(87.2% ROI)
Projected value
$112,551
Return breakdown
Property appreciation+$8,036
Loan principal paid down+$2,996
Rental cash flow+$7,200
5-year hold
+$31,076(148.7% ROI)
Projected value
$118,249
Return breakdown
Property appreciation+$13,734
Loan principal paid down+$5,342
Rental cash flow+$12,000
10-year hold
+$66,002(315.8% ROI)
Projected value
$133,788
Return breakdown
Property appreciation+$29,273
Loan principal paid down+$12,729
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.12
1 BR
1.07
2 BR
1.00
3 BR
0.99
4 BR
0.98
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 46805 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 46805 (Fort Wayne, IN) is $1,120 a month. That is up 14.3% from $980 in FY 2026. Fort Wayne 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, 46805 has the 49th-highest two-bedroom rent (county range $1,010–$1,870). The median county two-bedroom FMR in Indiana is $1,086, so ZIP 46805 is 3% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 46805
BedroomsFY 2027Change90–110% range
Studio$920+17.9%$828–$1,012
1BR$920+13.6%$828–$1,012
2BR$1,120+14.3%$1,008–$1,232
3BR$1,380+13.1%$1,242–$1,518
4BR$1,510+13.5%$1,359–$1,661

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 46805
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$920$920$1,120$1,380$1,510
FY 2026$780$810$980$1,220$1,330
FY 2025$820$860$1,040$1,310$1,420
FY 2024$710$770$940$1,190$1,290
FY 2023$620$700$860$1,100$1,200

Two-bedroom rent in nearby Allen County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 46805
46797$1,260+12.5%
46798$1,450+29.5%
46799$1,150+2.7%
46802$1,160+3.6%
46803$1,150+2.7%
46804$1,410+25.9%
46805Current$1,120—
46806$1,100−1.8%
46807$1,230+9.8%
46808$1,170+4.5%
46809$1,040−7.1%
46814$1,870+67.0%

Questions about ZIP 46805 rents

How much will Section 8 pay for a two-bedroom in ZIP 46805?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,120, that basic range is $1,008 to $1,232 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 46805 in?

ZIP 46805 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 46805 for FY 2027?

The two-bedroom FMR rose 14.3%, from $980 in FY 2026 to $1,120 in FY 2027. Since FY 2023 it has risen 30.2%.

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 rentFort Wayne, IN fair market rentIN statewide rentsWhat is SAFMR?Data sources