Fort Wayne, Indiana Housing Market Prices
Fort Wayne Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 45% below the Indiana median$78,767
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Median rent 6% below the Indiana median$998
Housing Market Overview
| Metric | Fort Wayne | Indiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $78,767 | $142,738 | $248,835 |
| Price Trend (Annual %) | 0.8% | 7.2% | 7.5% |
| Median Gross Rent | $998 | $1,062 | $1,407 |
| Rent Trend (Annual %) | 5.0% | 4.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Fort Wayne is about 45% lower than in Indiana. Rent is about 6% lower than the Indiana average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Fort Wayne, up about 0.8% and 5.0% a year respectively. Rent is changing faster.
Median rent in Fort Wayne rose about 49.8% between 2015 and 2024, from $666 to $998. Over the same span, rent in Indiana rose about 42.6%.
Affordability
On average, housing unit costs 1.3 yearly household incomes in Fort Wayne.
Buying the median-priced home in Fort Wayne costs roughly 6.6 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Fort Wayne. The price-to-rent ratio in Indiana is about 11.2.
| Metric | Fort Wayne | Indiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $78,767 | $142,738 | $248,835 |
| Median Household Income | $61,197 | $71,967 | $80,455 |
| Price-to-Income Ratio | 1.3 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Fort Wayne rose about 8.3%, while median household income rose about 42.1% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Fort Wayne | Indiana Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 56.7% | 64.4% | 58.5% |
| Rental Rate | 36.3% | 26.9% | 31.2% |
| Vacancy Rate | 7.0% | 8.8% | 10.2% |
| Median Tenure (years) | 12.0 | 15.0 | 15.0 |
| Median Year Moved In | 2014 | 2011 | 2011 |
Fort Wayne has a homeownership rate of 56.7%, lower than the Indiana average of 64.4%. Its housing vacancy rate is 7.0%, compared with 8.8% in Indiana.
Housing Stock
| Metric | Fort Wayne | Indiana Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.37 people | 2.45 people | 2.53 people |
| Median Structure Built Year | 1970 | 1975 | 1978 |
| Median Number of Rooms | 5.8 | 5.9 | 5.5 |
The typical housing unit in Fort Wayne was built around 1970. On average, 2.4 people live in a home with about 5.8 rooms, staying for about 12.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Fort Wayne, Indiana.
What is the median home price in Fort Wayne, Indiana?
The median home price in Fort Wayne, Indiana is $78,767, lower than the Indiana average of $142,738.
What is the average home price in Fort Wayne, Indiana?
The typical home price in Fort Wayne, Indiana, reported as the median sale price, is $78,767. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Fort Wayne, Indiana?
The median gross rent in Fort Wayne, Indiana is $998 per month, lower than the Indiana average of $1,062.
What was the median gross rent in Fort Wayne in 2020?
In 2020, the median gross rent in Fort Wayne, Indiana was $773 per month.
What is the price-to-rent ratio in Fort Wayne, Indiana?
The price-to-rent ratio in Fort Wayne, Indiana is about 6.6, meaning it would take roughly 6.6 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Fort Wayne.
Are home prices or rent rising faster in Fort Wayne, Indiana?
Both home prices and rent are rising in Fort Wayne, up about 0.8% and 5.0% a year respectively. Rent is changing faster.
What is the homeownership rate in Fort Wayne, Indiana?
56.7% of households in Fort Wayne, Indiana own their home, lower than the Indiana average of 64.4%.
What is the vacancy rate in Fort Wayne, Indiana?
The housing vacancy rate in Fort Wayne, Indiana is 7.0%, lower than the Indiana average of 8.8%.
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