Homes for Sale in Fort Wayne, IN: What You Need to Know
Fort Wayne has a population of 270,989 on 110.84 square miles, which results in a population density of 2,449 people per square mile. 73.85% of residents are White, 14.85% Black or African American, 4.62% Asian, and 4.54% are mixed-race. The total population is almost equally divided between women and men—51% of residents are female and 49% are male. 18.1% of Fort Wayne residents hold a Bachelor's Degree.
The average household size is 2.47 people, while the average household income is $63,932, with a poverty rate of 17.25%. The median age is 34.8 years, with 6% of the populace being under the age of 18, and 13.7% being 65 years or older.
Fort Wayne Real Estate: The Cost of Living
Monthly living expenses can vary greatly between different cities across the country. Here's what to expect when moving to Fort Wayne, IN.
The overall cost of living in Fort Wayne is 20% lower than the U.S. average, thanks to housing, utilities, groceries, healthcare, and transportation all being cheaper here. Housing is particularly affordable (40% below the national average), with a median home price of $135,100 and a median rent of $758.73. The sales tax in the state of Indiana is 7%.
Local Job Opportunities
Over the past decades, the population, economy, and job market of Fort Wayne have seen consistent growth. The largest industries in the region are manufacturing, health care, retail, and finance, followed by hospitality, education, and construction. The number one employer (10,000 employees) in Fort Wayne is Parkview Health, a healthcare system operating 80 community hospitals and clinics in Indiana and Ohio. The second-largest employer is a steel producer and Fortune 500 company, Steel Dynamics (7,635 employees). Besides the private sector, the government is another significant employer in the Fort Wayne area. At 3.3%, the unemployment rate is 0.6% below the U.S. average.
Housing Availability in Fort Wayne
There is a total of 105,174 homes and apartments in Fort Wayne. 61.7% percent of them are owned, 38.3% are rented, and 9.8% are vacant. The vast majority of homes are single-family detached homes, followed by apartment complexes, small apartment buildings, and townhomes. Home appreciation has been 10.7% in the last ten years and 7.8% over the past year.
With a current median home price of $135,100 and a property tax rate (0.8%) that's 0.3% lower than the national average, and Fort Wayne remains a good market for home buyers. Those looking to rent in Fort Wayne can expect a price range from $530 monthly for a studio apartment to $1,120 for four bedrooms—between $300 and $600 less than the U.S. average.
Fort Wayne’s Climate and Weather
The climate of Fort Wayne is categorized as humid continental, with hot and humid summers and cold, windy winters. Average temperatures range from winter lows of 17°F to summer highs of 84°F but can go as low as 1°F and as high as 91°F. On average, there are 38.34 inches of rain, 32.4 inches of snowfall, and around 270 days with sunshine per year.