Allen County/Fort Wayne/46825

46825

ZIPSAFMR

Allen County, IN

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ZIP Investment Score

120Above average

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$1,170	$1,090	8.3%
1 BR	$1,180	$1,180	6.0%
2 BR	$1,430	$1,290	5.7%
3 BR	$1,760	$1,650	4.8%
4 BR	$1,920	$1,930	4.8%
5 BR	$2,208	Not available	4.8%
6 BR	$2,539	Not available	4.8%
7 BR	$2,920	Not available	4.8%
8 BR	$3,358	Not available	4.8%

Purchase Price Calculator

Maximum purchase price

$129,777

Cost breakdown

+Likely effective rent$1,290

HUD FMR$1,430

Market rentUsed$1,290

Est. payment standard (94%)$1,340

-Principal and interest-$656

Loan amount$103,822

Down payment$25,955

Rate6.50%

Term30 years

-Operating costs-$434

Property taxes-$130

Insurance-$175

Utilities$0

HOA$0

Management-$129

=Target cash flow+$200

Calculation mode

BedroomsCash-flow target

Down payment methodDown payment %

HOA / mo

Utilities methodUtilities amount

Management methodManagement % of rent

Hold period projections

Annual appreciation rate

3-year hold

+$20,898(80.5% ROI)

Projected value

$139,756

Return breakdown

Property appreciation+$9,979

Loan principal paid down+$3,720

Rental cash flow+$7,200

5-year hold

+$35,687(137.5% ROI)

Projected value

$146,831

Return breakdown

Property appreciation+$17,054

Loan principal paid down+$6,633

Rental cash flow+$12,000

10-year hold

+$76,154(293.4% ROI)

Projected value

$166,126

Return breakdown

Property appreciation+$36,349

Loan principal paid down+$15,806

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

1.07ratio

FMR$1,170

Market$1,090

vs market+$80

FMR is near market; voucher and private rents are aligned.

1.07

1 BR

1.00ratio

FMR$1,180

Market$1,180

vs market+$0

FMR is near market; voucher and private rents are aligned.

1.00

2 BR

1.11ratio

FMR$1,430

Market$1,290

vs market+$140

FMR is above market; underwrite to market rent.

1.11

3 BR

1.07ratio

FMR$1,760

Market$1,650

vs market+$110

FMR is near market; voucher and private rents are aligned.

1.07

4 BR

0.99ratio

FMR$1,920

Market$1,930

vs market-$10

FMR is near market; voucher and private rents are aligned.

0.99

0.700.800.901.001.101.201.30aligned range

Historical

FY 2023-2027

FMR: FY2027
Market rent: last ~365 days
Property value: --
Tax rate: --
Mortgage rate: --

ZIP 46825 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 46825 (Fort Wayne, IN) is $1,430 a month. That is up 13.5% from $1,260 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, 46825 has the 9th-highest two-bedroom rent (county range $1,010–$1,870). The median county two-bedroom FMR in Indiana is $1,086, so ZIP 46825 is 32% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 46825
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$1,010	$1,170	+15.8%	$1,053–$1,287
1BR	$1,040	$1,180	+13.5%	$1,062–$1,298
2BR	$1,260	$1,430	+13.5%	$1,287–$1,573
3BR	$1,560	$1,760	+12.8%	$1,584–$1,936
4BR	$1,710	$1,920	+12.3%	$1,728–$2,112

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 46825
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$1,170	$1,180	$1,430	$1,760	$1,920
FY 2026	$1,010	$1,040	$1,260	$1,560	$1,710
FY 2025	$1,030	$1,080	$1,310	$1,650	$1,780
FY 2024	$920	$990	$1,210	$1,530	$1,670
FY 2023	$760	$860	$1,050	$1,340	$1,460

Two-bedroom rent in nearby Allen County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code	2 bedroom	vs. 46825
46805	$1,120	−21.7%
46806	$1,100	−23.1%
46807	$1,230	−14.0%
46808	$1,170	−18.2%
46809	$1,040	−27.3%
46814	$1,870	+30.8%
46815	$1,210	−15.4%
46816	$1,090	−23.8%
46818	$1,570	+9.8%
46819	$1,190	−16.8%
46825Current	$1,430	—
46835	$1,410	−1.4%

Questions about ZIP 46825 rents

How much will Section 8 pay for a two-bedroom in ZIP 46825?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,430, that basic range is $1,287 to $1,573 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 46825 in?

ZIP 46825 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 46825 for FY 2027?

The two-bedroom FMR rose 13.5%, from $1,260 in FY 2026 to $1,430 in FY 2027. Since FY 2023 it has risen 36.2%.

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 rent Fort Wayne, IN fair market rent IN statewide rents What is SAFMR?Data sources