Real Estate Investing in Fort Wayne, Indiana (46802)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 46802 (Fort Wayne, IN)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 16.2% of homes vacant — above national norms.
- Elevated poverty: 26.7% poverty rate — can affect rent collection.
What’s happening in Fort Wayne, IN (46802)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 46802 Fort Wayne
ZIP 46802 inside Allen County looks affordable on the surface — median value of $142K — but the discount exists for reasons that a careful buyer should understand before committing.
For an experienced owner, 46802 can be a a strong candidate for hunting ground — but the discount at $142K reflects genuine risk that outside investors often underestimate.
ZIP 46802's metrics run below Allen County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
Looking more closely, 10,360 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
The 46802 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Fort Wayne:
Property Strategy for 46802
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $123,151 | $830 | 4.9% | +11.6% | $123,151 |
| 2BR | $103,728 | $1,010 | 7.0% | +9.6% | $51,864 |
| 3BR | $130,267 | $1,250 | 6.9% | +8.9% | $43,422 |
| 4BR | $171,878 | $1,370 | 5.7% | +5.8% | $42,970 |
| 5BR | $314,760 | — | — | +7.4% | $62,952 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 46802 Compare?
| Metric | 46802 | Fort Wayne | Fort Wayne, IN | Indiana |
|---|---|---|---|---|
| Home Value | $141,550 | $94,884 | N/A | $248,442 |
| 5-Year CAGR | 6.4% | 7.0% | N/A | 7.7% |
| Avg Rent | $1,150 | $1,291 | N/A | - |
| Cap Rate | 6.3% | 4.5% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 46802 (Fort Wayne, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $141,550 |
| Monthly Rent | $1,150 |
| Price-to-Rent | 10.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 9.8% |
| Cap Rate | 6.3% |
| 5-Year IRR | 12.7% |
📈 Home Appreciation
| 1-Year | +5.9% ▲ |
| 3-Year CAGR | +6.3% ▲ |
| 5-Year CAGR | +6.4% ▲ |
| 10-Year CAGR | +10.3% ▲ |
🏠 Rent Trends
| 1-Year | +11.3% ▲ |
| 3-Year CAGR | +6.4% ▲ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) is close to the estimated cap rate (6.3%). Financing this market at current rates produces a cash-on-cash return near the cap rate. Appreciation and tax benefits may still support the investment.
⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 46802
Population: 10,360
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 46802
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Bloomingdale Elementary School
South Wayne Elementary School
Fairfield Elementary School
Francis M Price Elementary School
Franke Park Elementary School
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 1,109 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Should investors worry about vacancy in Fort Wayne, IN?
Fort Wayne, IN vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
What monthly rent should investors expect in Fort Wayne, IN?
Investors in Fort Wayne, IN typically see rents near $1,150/mo per month against $142K home values - a solid setup for rental cash flow.
Are homes affordable in Fort Wayne, IN?
The median home value in Fort Wayne, IN is roughly $142K. That puts it reasonable relative to the IN statewide average.
Are landlord laws favorable in Fort Wayne, IN?
The landlord environment in Fort Wayne, IN is landlord-friendly. Statewide rules shape most day-to-day operations for rental owners.
How does Fort Wayne, IN stack up for property investment?
Investors tracking Fort Wayne, IN will find a 3.0/5 rating supported by $142K median home values and $1,150/mo rents. That profile suits long-term holders targeting steady returns.
You know 46802 now. You don’t know where it ranks.
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How 46802 ranks in Fort Wayne, IN
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