Fort Wayne, Indiana Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Fort Wayne, Indiana rental market.
Highlights
An apartment for rent in Fort Wayne, Indiana typically goes for $1,146 per month, while a single-family home for rent in Fort Wayne, Indiana has a monthly cost of around $1,550. Renter-occupied units make up 37% of the local housing market, while the rental vacancy rate in Fort Wayne, Indiana is at 5.6.
Fort Wayne, Indiana
Average Apartment Rent
$1,146
Y-o-Y Change in Average
Apartment Rent
4.3%
Average Single-Family Rent
$1,550
As of July 2024
Compared to a year ago, Fort Wayne, Indiana apartments have recorded a 4.3% rent increase.
Fort Wayne, Indiana |Average apartment rent trend
Fort Wayne, Indiana| Average apartment rent
Fort Wayne, Indiana | Apartment rent ranges
At 43.55%, apartments priced $1,000 - $1,500 represent the bulk of Fort Wayne, Indiana rentals, while condos priced Under $500 hold the lowest share of the market – 1%.
Fort Wayne, Indiana | Housing tenure**
Renters take up 37% of Fort Wayne, Indiana real estate, occupying a total of 40,334 units, while homeowners live in 67,430 properties.
Median number of rooms of renter-occupied housing units**
4.3
Renter median household income**
$38,611
Average household size of renter-occupied housing units**
2.16
Rental vacancy rate**
5.6%
Fort Wayne, Indiana | Renter-occupied housing units by no. of bedrooms**
There are 14,886 rentals in Fort Wayne, Indiana with 2 beds making up the highest share of the market, at 37%. Units with 5 or more beds, on the other hand, hold the lowest percentage (1%), amounting to 331 units. Overall, the median number of rooms in Fort Wayne, Indiana homes for rent is 4.3.
Fort Wayne, Indiana |Renter-occupied units by age of householder**
Most condos for rent in Fort Wayne, Indiana are occupied by residents in the 25 - 34 years age group (28%), followed by those in the 35 - 44 years age group (17%). At the same time, people in the 75 - 84 years age group make up the lowest share of the local rental market – 3%.
Fort Wayne, Indiana | Renter-occupied housing units by family type**
Fort Wayne, Indiana | Renter-occupied housing units by the presence of own children**
A total of 17,054 apartments for rent in Fort Wayne, Indiana, or 42% of all rentals are family households. Additionally, 28% of rental homes include children under the age of 18 – that’s 11,258 units. All in all, the median size of a renter-occupied household in Fort Wayne, Indiana is 2.16.
Fort Wayne, Indiana | Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 22% of the rental market. In contrast, residents with less than a high school degree reside in 12% of the homes for rent in Fort Wayne, Indiana.
Fort Wayne, Indiana | Renter-occupied units by year structure built**
The highest share of Fort Wayne, Indiana apartment rentals, namely 20% or 8,260 units, were Built 1970 - 1979, followed by those Built 1960 - 1969 (14%, 5,837 units), and the ones Built 1980 - 1989 (13%, 5,291 units).
Fort Wayne, Indiana | Renter-occupied units by year householder moved in**
Median year renter moved into unit2018
Most Fort Wayne, Indiana renters (42%) moved in 2010 to 2017, while only 1% of them moved in 1989 or earlier. Overall, the median year renters have occupied their Fort Wayne, Indiana condos for rent is 2018.
Fort Wayne, Indiana | Renter-occupied housing units by vehicles available**
When it comes to transportation options, 53% of Fort Wayne, Indiana renters have 1 vehicle available per household, 25% of them have 2 vehicles available, and 14% have No vehicle available.
Fort Wayne, Indiana | Means of transportation to work of householders living in renter-occupied housing units**
Fort Wayne, Indiana |Geographical mobility in the past year for householders living in renter-occupied housing units**
Fort Wayne, Indiana | Average apartment rent by zip codes
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Fort Wayne, Indiana apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
