Fort Wayne, IN · Indiana
Whitley County
ZIP 46723
34,388 residents77 permits TTM$75,790 median HHI4 ZIP codesUpdated April 16, 2026
Investor first look
Median home value
$205,200
ACS 5-Year
Cap rate proxy
6.5%
FMR × 0.65 ÷ Home Value
Rent-to-income
13.7%
HUD FMR ÷ ACS HHI
Net migration
+1.91%
IRS SOI
Permits (TTM)
77
Census BPS
Climate risk
24.6
FEMA NRI (0–100)
ZIP 46723
Median home value
$287,168
Gross yield
4.6%
Cap rate
3.6%
Rent gap
20.5%
Affordability
P/I: 3.8R/I: —
Section 8 detail
SAFMR: $1,090Rent: $867Gap: 25.7%
ZIP code breakdown4 ZIP codes
| ZIP | Median home value | Rent (FMR 2BR) | Gross yield | Cap rate ↓ | Rent gap |
|---|---|---|---|---|---|
| 46787 | $232,248 | $980 | 5.1% | 4.5% | 11.5% |
| 46725 | $274,211 | $1,070 | 4.7% | 3.8% | 19.0% |
| 46723 | $287,168 | $1,090 | 4.6% | 3.6% | 20.5% |
| 46764 | $312,097 | $1,160 | 4.5% | 3.3% | 25.3% |
Sort by any column. Click a ZIP for detail. Rent gap: green = HUD FMR above market rent.
Demographics
Owner-occupied
80.2%
Census ACS
Vacancy rate
6.8%
Census ACS
Bachelor's degree +
22.8%
Census ACS
Rent burdened
34.9%
Census ACS (>30% income)
Median age
41.8
Census ACS
U.S. Census Bureau — American Community Survey 5-Year Estimates
U.S. Census Bureau — Building Permits Survey
U.S. Department of Housing and Urban Development — Fair Market Rents / Small Area Fair Market Rents (SAFMR)
Internal Revenue Service — Statistics of Income Migration Data
FEMA — National Risk Index
Last updated: April 16, 2026