Home Affordability in Fort Wayne, IN
The median home price in Fort Wayne is $185,000 with a median household income of $49,527. Housing is moderately affordable relative to local incomes.
Median Home Price
$185,000
Median Income
$49,527
Price-to-Income Ratio
3.7x
Est. Affordable Home
$193,000
Property Tax Rate
0.85%
Annual Property Tax
$1,573
Sales Tax Rate
7.00%
Cost of Living Index
82
Buying a Home in Fort Wayne
Based on the 28% rule (spending no more than 28% of gross income on housing), a household earning the median income of $49,527 in Fort Wayne can afford a monthly housing payment of approximately $1,156. This translates to a home price of roughly $193,000, which is at or above the median home price — the typical home is within reach for a median-income household.
Property taxes on a median-priced home in Fort Wayne would be approximately $1,573 per year ($131/month) at the effective rate of 0.85%.
Down Payment Scenarios
| Down Payment | Amount | Loan Amount | PMI Required |
|---|---|---|---|
| 3% | $5,550 | $179,450 | Yes |
| 5% | $9,250 | $175,750 | Yes |
| 10% | $18,500 | $166,500 | Yes |
| 20% | $37,000 | $148,000 | No |
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