Fort Wayne, IN

Fort Wayne, IN Rental Market Data (2026)

By TrueCap · built by a Philadelphia rental investor

HUD Fair Market Rent (FY2026) for the Fort Wayne, IN HUD Metro FMR Area, the HUD area that includes Allen County, IN: $1,113 a month for a 2-bedroom unit and $1,381 for a 3-bedroom unit. Fair Market Rent is HUD's estimate of the 40th-percentile gross rent for standard-quality rental units in an area, used to determine payment standard amounts for the Housing Choice Voucher program: a percentile, not an average of current asking rents (HUD). HUD's page for the Fort Wayne, IN HUD Metro FMR Area says all Housing Choice Voucher programs operated there will use ZIP-level Small Area FMRs instead of this area figure (HUD FY2026). At a stated $265,000 price with the 3-bedroom FMR as a placeholder rent, TrueCap's sample underwrite below comes to −$729/mo cash flow, a 3.1% cap rate, and a 0.51 DSCR. A specific Fort Wayne property runs on its own price, rent, tax bill, and insurance.

Fort Wayne HUD Fair Market Rent (FY2026)

HUD Fair Market Rent (FY2026) for the Fort Wayne, IN HUD Metro FMR Area, the HUD area that includes Allen County, IN. It is an area benchmark, not what a specific unit rents for: compare it with current leases for the address. HUD's FY2026 page for this area shows every bedroom size.

HUD Fair Market Rent (FY2026) by bedroom count, Fort Wayne, IN HUD Metro FMR Area
Bedrooms	FY2025 / month	FY2026 / month
2 bedrooms	$1,199	$1,113
3 bedrooms	$1,512	$1,381

By ZIP code: HUD Small Area Fair Market Rent (FY2026)

HUD also publishes ZIP-level Fair Market Rents for the Fort Wayne, IN metro area, the region that includes Fort Wayne. They vary by ZIP and bedroom count. HUD's ZIP table lists every ZIP.

HUD Small Area Fair Market Rent (FY2026) by ZIP code, Fort Wayne, IN metro area
ZIP code	2BR / month	3BR / month
46748	$1,670	$2,070
46765	$1,360	$1,690
46788	$1,180	$1,470
46852	$1,120	$1,390
46858	$1,120	$1,390
46863	$1,120	$1,390
46869	$1,120	$1,390
46774	$1,110	$1,400
46777	$1,070	$1,300
46962	$1,000	$1,200
46773	$970	$1,210
46809	$960	$1,190

12 of 63 ZIP codes in the Fort Wayne, IN metro area, sampled highest to lowest.

What the HUD FMR pencils to

Sample underwrite at a stated $265,000 price with the HUD 3-bedroom FMR as a placeholder rent — not a listing. TrueCap ran its sample deal with $1,381/mo of rent and every other assumption unchanged.

Monthly cash flow: −$729/mo
Cap rate: 3.1%
DSCR: 0.51

Assumptions: $265,000 price, $1,381/mo rent (HUD FMR, 3 bedrooms), 20% down, 6.6% rate, 30-year loan, 3% closing costs, 1.49% property tax, 0.5% insurance, 5% vacancy, 8% management, 5% maintenance, 5% CapEx reserve. Change any of them in the analyzer and the numbers move with you.

Fort Wayne rental data: common questions

What is HUD's Fair Market Rent for Fort Wayne, IN in FY2026?

HUD's FY2026 Fair Market Rent for the Fort Wayne, IN HUD Metro FMR Area, the HUD area that includes Allen County, IN, is $1,113 a month for a 2-bedroom unit and $1,381 for a 3-bedroom unit.

Source: HUD FY2026 Fair Market Rent documentation: Fort Wayne, IN HUD Metro FMR Area, retrieved September 28, 2026

How did Fort Wayne's HUD Fair Market Rent change from FY2025 to FY2026?

For the Fort Wayne, IN HUD Metro FMR Area, the 2-bedroom figure went from $1,199 in FY2025 to $1,113 in FY2026 (−$86, −7.2%), and the 3-bedroom figure went from $1,512 in FY2025 to $1,381 in FY2026 (−$131, −8.7%).

Source: HUD FY2026 Fair Market Rent documentation: Fort Wayne, IN HUD Metro FMR Area, retrieved September 28, 2026

How much does HUD's Fair Market Rent vary by ZIP code around Fort Wayne?

HUD's FY2026 Small Area Fair Market Rents for the Fort Wayne, IN metro area put a 2-bedroom unit between $960 a month (ZIP 46809) and $1,670 (ZIP 46748) across the area's 63 ZIP codes.

Source: HUD FY2026 Small Area Fair Market Rents by ZIP code: Fort Wayne, IN HUD Metro FMR Area, retrieved July 14, 2026

What do 12 months of HUD Fair Market Rent come to in Fort Wayne?

At HUD's FY2026 Fair Market Rent for the Fort Wayne, IN HUD Metro FMR Area, 12 months come to $13,356 for a 2-bedroom unit and $16,572 for a 3-bedroom unit.

Source: HUD FY2026 Fair Market Rent documentation: Fort Wayne, IN HUD Metro FMR Area, retrieved September 28, 2026

Sources & methodology

Data as of HUD FY2026 (retrieved July 13, 2026).

HUD figures come from HUD's published tables for the area. The sample underwrite runs TrueCap's sample deal through the analyzer's own math.

HUD FY2026 Fair Market Rent documentation: Fort Wayne, IN HUD Metro FMR Area, retrieved September 28, 2026
HUD FY2026 Small Area Fair Market Rents by ZIP code: Fort Wayne, IN HUD Metro FMR Area, retrieved July 14, 2026
HUD Fair Market Rents: definition and uses (huduser.gov), retrieved September 27, 2026

Reviewed by the TrueCap team. See our full methodology.

Three things to verify locally

Property tax bill. Pull the parcel's current bill from the county assessor or treasurer, and check whether a sale changes the assessment. The sample above uses 1.49% of price; enter the Fort Wayne bill instead.
Rental licensing and permits. Check whether Fort Wayne requires a rental license, registration, inspection, or certificate of occupancy for the address, and budget any fees before you close.
Insurance quotes. Get a written landlord-policy quote for the specific property, with wind, hail, or flood coverage where the property needs it, and enter that premium instead of a default.

For Indiana data, see the Indiana guide.

The terms behind the numbers

Cap Rate DSCR (Debt Service Coverage Ratio)Cash-on-Cash Return