Fort Wayne, IN
The numbers that matter most
What an investor checks first when sizing up a new metro — affordability ratio, rent vs income, cap rate proxy, and where the market is moving. Each metric shown vs. state and national medians for instant context.
affordable
Price to income
2.80×
The single most-cited 'is this market still cheap' check. Below 3× and you're in an affordability tailwind.
- vs Indiana
- 2.80×=
- vs U.S.
- 3.43×-0.63
Benchmark
ACS median home value ÷ median HHI
comfortable
Rent to income
19.3%
What share of a typical household's income goes to rent. Below 30% means tenants can absorb modest rent increases.
- vs Indiana
- 21.8%-2.6
- vs U.S.
- 23.3%-4.0
Benchmark
(HUD FMR 2BR × 12) ÷ median HHI
deal-by-deal
Cap rate proxy
4.47%
Rough first-pass yield assuming a 35% expense ratio. Not an underwriting number — a 'is this even worth modeling' filter.
- vs Indiana
- 4.86%
- vs U.S.
- 4.35%+0.13
Benchmark
(FMR 2BR × 12 × 0.65) ÷ ACS median home value
steady
Net migration
+0.00%
Forward-looking demand signal. Positive net migration drives rent growth and absorbs new supply.
- vs Indiana
- -0.01%+0.01
- vs U.S.
- 0.03%
Benchmark
IRS net migration ÷ population
normal
Permit pipeline
3.34
permits per 1,000 residents
Forward-supply indicator. Above ~5 means the metro is building meaningfully relative to its size; below 2 means supply is tight.
- vs Indiana
- 2.82+0.52
- vs U.S.
- 3.52
Benchmark
Census BPS permits TTM ÷ population × 1,000
very tight labor market
Unemployment
2.5%
Tighter unemployment means higher wages, more rental demand, lower vacancy.
- vs Indiana
- 2.6%-0.1
- vs U.S.
- 3.9%-1.4
Benchmark
BLS LAUS, latest month
Where prices are and where they've been
5-year price appreciation
+65.4%
homeValues.yearOverYear
+4.5%
Median home value
$194,000
The rent ladder
| Bedroom | Monthly | Annual | % of median HHI |
|---|---|---|---|
| 1 BR | $916 | $10,992 | 15.8% |
| 2 BR | $1,113 | $13,356 | 19.3% |
| 3 BR | $1,381 | $16,572 | 23.9% |
Labor market direction
Unemployment
2.5%
Median household income
$69,378
What's being built
Total TTM
1,401
Single-family
1,309
2–4 unit
4
5+ unit
88
All 2 counties, ranked by population
| County | Population | Home value | Median HHI | Permits TTM | YoY |
|---|---|---|---|---|---|
| Allen County | 385,456 | $194,300 | $68,839 | 1,324 | |
| Whitley County | 34,259 | $205,200 | $75,790 | 77 |
Similar metros nationally
| Metro | Pop | Med HHI | P/I | Cap proxy | HPI 5y | Permits/1k | Unemp |
|---|---|---|---|---|---|---|---|
| ★Fort Wayne | 419,715 | $69,378 | 2.80× | 4.47% | +65.4% | 3.34 | 2.5% |
| Salisbury, MD-DE | 421,982 | $69,592 | — | — | +59.5% | — | 3.9% |
| Peoria, IL | 401,702 | $70,872 | — | — | +44.9% | — | 5.6% |
| Corpus Christi, TX | 422,187 | $65,801 | — | — | +39.2% | — | 4.3% |
| Canton-Massillon, OH | 400,960 | $65,666 | — | — | +53.1% | — | 4.4% |
| Savannah, GA | 406,575 | $74,632 | — | — | +72.8% | — | 2.8% |
Where people are moving in from
Net migration
+7
+0.00% of population
| Origin county | Tax returns |
|---|---|
| DeKalb County, IN | 389 |
| Allen County, IN | 361 |
| Noble County, IN | 355 |
| Huntington County, IN | 297 |
| Whitley County, IN | 293 |
| Marion County, IN | 290 |
Who lives in Fort Wayne
- Median age
- 37
- Bachelor's+
- 29.7%
- Owner-occupancy
- 70.4%
- Vacancy rate
- 6.2%
- Rent burdened (30%+)
- 41.2%
- Median household income
- $69,378
This page shows federally sourced data. A full editorial analysis with charts and investment commentary is in progress.