FY2027 Small Area FMR · Spencerville, IN
ZIP 46788 Fair Market Rent & Payment Standards
HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 46788 (Spencerville, IN) is $1,290 a month, up 9.3% from FY2026. That is 3% above the Fort Wayne, IN area-wide FMR of $1,248.
Payment standard range, 2 bedrooms
Housing agencies may set voucher payment standards anywhere from 90% to 110% of the FMR without asking HUD.
FY2027 FY2026
Where 46788 sits in the Fort Wayne, IN area
Of the 63 ZIP codes HUD lists for the area, 46788 has the 13th highest two-bedroom Small Area FMR. Fort Wayne, IN is one of the 65 metro areas where HUD requires Small Area FMRs for the Housing Choice Voucher program (designated 2023), so local housing agencies must set payment standards from this ZIP code's figure, normally between $1,161 and $1,419 for two bedrooms.
ZIP code 46788 crosses more than one HUD area. HUD also lists it under DeKalb County, IN (same figures). The figure that applies depends on which side of the line the home is.
All unit sizes
| Unit | FY2027 SAFMR | Payment standard range | Area-wide FMR | FY2026 SAFMR |
|---|---|---|---|---|
| Studio | $1,030 | $927 – $1,133 | $1,025 | $910 |
| 1 bedroom | $1,050 | $945 – $1,155 | $1,026 | $940 |
| 2 bedrooms | $1,290 | $1,161 – $1,419 | $1,248 | $1,180 |
| 3 bedrooms | $1,590 | $1,431 – $1,749 | $1,534 | $1,470 |
| 4 bedrooms | $1,730 | $1,557 – $1,903 | $1,679 | $1,590 |
A household renting a two-bedroom home at the Small Area FMR of $1,290 needs about $51,600 a year to keep housing costs at 30% of income. The area median family income is $95,100 and the 80% low-income limit for four people is $76,100. ZIP code 46788 lies mainly in DeKalb County and Allen County. See the Fort Wayne, IN metro page for the full income limits table and the household check.
Nearby ZIP codes
Questions
What is the Fair Market Rent for ZIP code 46788?
HUD's FY2027 Small Area Fair Market Rents for 46788 are $1,030 (studio), $1,050 (1 BR), $1,290 (2 BR), $1,590 (3 BR) and $1,730 (4 BR) a month.
What is the Section 8 payment standard in 46788?
Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 46788 that range is $1,161 to $1,419 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.
Which income limits apply in 46788?
The FY2026 income limits of the Fort Wayne, IN area apply: median family income $95,100, low-income (80%) limit $76,100 for a family of four.