Rent to own Homes in Fort Wayne, IN
Fort Wayne, Indiana, sits along the banks of the St. Joseph, Maumee and St. Mary's Rivers. Its location was the primary reason the United States Army originally established a fort here in 1794. Fort Wayne quickly established itself as an important trading post and continued to experience rapid growth throughout the Industrial Revolution. Today, Fort Wayne plays a primary role in the cultural happenings of life in Indiana. In the town's centralized arts district, you will find The Arts United Center, home to dance and theater performances. Across the street, you will also discover the Fort Wayne Museum of Art. If you consider yourself more of a sports fan, have no fear. Fort Wayne is home to three minor league sports teams and was voted as the 2007 Best Place in the Country for Minor League Sports by the Street and Smith's Sports Business Journal.
Fort Wayne, IN is a great place for affordable rent-to-own homes! With a median household income of over $51,454 and a median rent of $777, the Fort Wayne, IN rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in Fort Wayne, IN. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.
More Fort Wayne, IN Property Resources
Rent to own Homes in Cities Near Fort Wayne, IN
- Altona
- Angola
- Ashley
- Auburn
- Blakeslee
- Bryan
- Butler
- Cambria
- Camden
- Clear Lake
- Corunna
- Edgerton
- Edon
- Fremont
- Garrett
- Grabill
- Hamilton
- Harlan
- Hicksville
- Holiday City
- Hudson
- Kendallville
- Lake Seneca
- Laotto
- Leo
- Leo-Cedarville
- Mark Center
- Montgomery
- Montpelier
- Nettle Lake
- Orland
- Pioneer
- Pleasant Lake
- Reading
- Spencerville
- St. Joe
- Waterloo
Neighborhoods in Fort Wayne, IN
Auburn Farms rent to own homes Adale Acres rent to own homes Ardmore Knolls rent to own homes Avalon Place rent to own homes Bass-Leesburg Civic rent to own homes Beckett's Run rent to own homes Breconshire rent to own homes Belle Vista rent to own homes Bloomingdale rent to own homes Broad River rent to own homesBuying a Home in Fort Wayne, IN
Fort Wayne, IN is seeing rapid growth and Fort Wayne, IN's' housing market remains optimal with an average home price that is -44% below the 2024 national average. Fort Wayne, IN is part of Allen county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2024 for county Allen is 0.94% which is below the national average, which is 0.99%.
Median Home Price in Fort Wayne, IN
Median Rent in Fort Wayne, IN
Average Cost of Living in Fort Wayne
Fort Wayne, IN's cost of living is 12% lower than the national average.
Average Home Prices in Fort Wayne
The median home price for Fort Wayne, Indiana, is $172,600, lower than the national average of $295,300.
Fort Wayne Statistics
If you're interested in Fort Wayne rent-to-own homes, don't forget to consider important factors in addition to monthly living costs, such as average commute, taxes, crime rates, etc. The following are some common Fort Wayne statistics compared to the U.S. national average.
| Fort Wayne Averages | National Averages | |
|---|---|---|
| One-Way Commute | Not listed | 27.1 minutes |
| Violent Crime | 14.3 | 22.7 |
| Property Crime | 30.44 | 35.4 |
| Unemployment Rate | 3.4% | 4.7% |
| Income Tax Rate | 3.23% | 4.6% |
| Air Quality | AQI 22 | AQI 40 |
| Water Quality | Safe | Safe |
| Median Household Income | $49,411 | $79,900 |
| Median Property Taxes | $1,263 | $2,471 |
| Utilities | $172.13 | $171.67 |
| Monthly Rent | $918.00 | $1,098 |
| Median Home Cost | $172,600 | $295,300 |
| Median Home Age | 49 years | 37 years |
Housing Market in Fort Wayne
Fort Wayne features a slightly more cost-effective housing market when compared to Indiana as a whole. The median house price in Fort Wayne is $100,800, compared to the state's median value of $109,126. Fort Wayne is a city that encourages its residents to stay for years to come. The city has experienced a 6 percent population growth since 2000, with an annual home turnover rate of 15 percent, which speaks to the stability of the market. On average, people stay in their homes for slightly over five years. Fort Wayne is a homeowners market, with 65 percent of homes being owner-occupied. Less than 25 percent of the Fort Wayne housing market is focused on rentals, while 11 percent of homes sit vacant. Those in the market for rent to own houses may have trouble uncovering homes that suit their needs in Fort Wayne, while those looking to buy will have better chances of settling in Fort Wayne.
Largest Employers and Industries
Gone are the days when Fort Wayne functioned as a trading post or a stop along the westward bound railroad. Today, Fort Wayne's major industries include healthcare, insurance, manufacturing and education. Tourism in Fort Wayne also continues to grow, as the city establishes itself as a cultural hub. According to The Alliance, Fort Wayne and Allen County's center for economic growth, the largest employers in town include Parkview Health Systems, Lutheran Health Network, Fort Wayne Community Schools, General Motors, City of Fort Wayne, Lincoln Financial Group, Allen County Government, BF Goodrich, IPFW and BAE Systems Platform Solutions. Parkview Health Systems and the Lutheran Health Network together employ over 9,000 employees.
Local Restaurants
Fort Wayne is home to a wide array of restaurants, ranging from the casual to the exotic. No matter what type of food you crave, there is probably a highly-rated restaurant in Fort Wayne to suit your cravings. Some of the best restaurants, according to Urbanspoon and Visit Fort Wayne, include 800 Degrees Wood Fired Pizza, which combines the atmosphere of a beer with Italian-style pizzas in a vast collection of flavors, and Baker Street Restaurant, an American-style restaurant specializing in steak and seafood. It regularly tops Fort Wayne's Best Of lists. Don Hall's Takaoka of Japan is a feast for the eyes and the stomach. Steak, seafood and veggies are grilled tableside for a meal that's always made just for you. Caliente is Fort Wayne's one-stop shop for Cuban dishes. This casual atmosphere specializes in tamales and Cuban sandwiches.
Neighborhoods
When looking for a home in Fort Wayne, keep in mind the city's neighborhoods are divided into four main areas, some of which are detailed here:
Fort Wayne, IN Frequently Asked Questions
According to NIche.com, Fort Wayne is one of the best places to live in Indiana. It's family-friendly, great for young professionals, and the cost of living is 12% lower than the national average.
Yes. Fort Wayne is listed as the 5th safest city in Indiana. Its total crime score is 62.5, which is below the national average for large cities.
Yes, Fort Wayne, Indiana, is in Eastern Standard Time.
The average price of a home in Fort Wayne, IN, is $172,600, which is below the national average of $295,300.