Fort Wayne, IN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Fort Wayne Neighborhoods Since 2000




Fort Wayne, IN Real Estate Data


Fort Wayne Housing Market Information

With 260,326 people, 101,549 houses or apartments, and a median cost of homes of $111,882, house prices in Fort Wayne are solidly below the national average.

Single-family detached homes are the single most common housing type in Fort Wayne, accounting for 69.48% of the city's housing units. Other types of housing that are prevalent in Fort Wayne include large apartment complexes or high rise apartments ( 18.32%), duplexes, homes converted to apartments or other small apartment buildings ( 7.13%), and a few row houses and other attached homes ( 2.68%).

The most prevalent building size and type in Fort Wayne are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 62.04% owning and 37.96% renting.

There is a lot of housing in Fort Wayne built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Fort Wayne built between 1940-1969 ( 35.76%). A lesser amount of the housing stock also hails from before 1939 ( 16.03%). There's also some housing in Fort Wayne built between 2000 and later ( 6.61%).

Vacant housing appears to be an issue in Fort Wayne. Fully 10.58% of the housing stock is classified as vacant. Left unchecked, vacant Fort Wayne homes and apartments can be a drag on the real estate market, holding Fort Wayne real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Fort Wayne Home Appreciation Rates

Appreciation rates for homes in Fort Wayne have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 8.17%, which ranks in the top 40% nationwide. This equates to an annual average Fort Wayne house appreciation rate of 0.79%.

Appreciation rates are so strong in Fort Wayne that despite a nationwide downturn in the housing market, Fort Wayne real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Fort Wayne appreciation rates continue to be some of the highest in America, at 8.19%, which is higher than appreciation rates in 92.51% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Fort Wayne. Fort Wayne appreciation rates in the latest quarter were at 3.37%, which equates to an annual appreciation rate of 14.20%.

Importantly, this makes Fort Wayne one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Indiana, our data show that Fort Wayne's latest annual appreciation rate is higher than 90% of the other cities and towns in Indiana.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Fort Wayne differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Fort Wayne - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Fort Wayne real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$111,882

Fort Wayne, IN HOME PRICES

Value Range
> $1,128,000 0.2
$846,001 - $1,128,000 0.1
$564,001 - $846,000 0.5
$451,001 - $564,000 0.5
$338,001 - $451,000 1.9
$226,001 - $338,000 5.3
$113,001 - $226,000 35.2
$56,001 - $113,000 39.0
$0 - $56,000 17.2

Low for IN
Low for Nation

Value Relative to Nation Value Relative to State
71.2127422849447 66.289592760181

Number Of Homes And Apartments:
101,549

Rent & Ownership

 

Average Market Rent:
$872 / per month

Homeownership Rate

Homeownership
Owners 62.04
Renters 37.96
Vacant 10.58

Housing Market Details

 

Age of Homes

AGE OF Fort Wayne HOMES
2000 or Newer 6.6
1970 - 1999 41.6
1940 - 1969 35.8
1939 or Older 16.0

Types of Homes

TYPE OF Fort Wayne HOMES
Single-Family 69.5
Townhomes 2.7
Small Apt. Buildings 7.1
Apt. Complexes 18.3
Mobile Homes 2.4
Other 0.0

Home Size

SIZE OF Fort Wayne HOMES
No Bedroom 1.49
1 Bedroom 11.78
2 Bedrooms 23.84
3 Bedrooms 44.00
4 Bedrooms 16.65
5 or more bedrooms 2.25

Fort Wayne Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IN*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
18.43% 1.00% 4 2
* 10 is highest