Real Estate Investing in Fort Wayne, Indiana (46804)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 46804 (Fort Wayne, IN)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
What’s happening in Fort Wayne, IN (46804)?
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Market Analysis: 46804 Fort Wayne
ZIP 46804 in Fort Wayne, IN carries a durable set of headwinds. Home values near $309K and rents of $1,591/mo sit inside a market where underwriting has to be tight.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 46804 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
The gap between 46804 and stronger Fort Wayne ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
Turning to rents, 29,177 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.
Strategically, 46804 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Fort Wayne:
Property Strategy for 46804
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $241,328 | $1,260 | 3.8% | +7.8% | $120,664 |
| 3BR | $272,080 | $1,560 | 4.1% | +7.8% | $90,693 |
| 4BR | $337,994 | $1,710 | 3.6% | +7.1% | $84,498 |
| 5BR | $429,217 | — | — | +6.8% | $85,843 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 46804 Compare?
| Metric | 46804 | Fort Wayne | Fort Wayne, IN | Indiana |
|---|---|---|---|---|
| Home Value | $308,724 | $94,884 | N/A | $248,442 |
| 5-Year CAGR | 5.9% | 7.0% | N/A | 7.7% |
| Avg Rent | $1,591 | $1,291 | N/A | - |
| Cap Rate | 4.0% | 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 46804 (Fort Wayne, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $308,724 |
| Monthly Rent | $1,591 |
| Price-to-Rent | 16.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.2% |
| Cap Rate | 4.0% |
| 5-Year IRR | 9.9% |
📈 Home Appreciation
| 1-Year | +5.9% ▲ |
| 3-Year CAGR | +4.2% ▲ |
| 5-Year CAGR | +5.9% ▲ |
| 10-Year CAGR | +7.1% ▲ |
🏠 Rent Trends
| 1-Year | -17.0% ▼ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.0%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 46804
Population: 29,177
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 46804
Schools in This ZIP Code
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
How much does a house cost in Fort Wayne, IN?
Homes in Fort Wayne, IN typically sell near $309K. Prices have moved at a 0.0% 5-year CAGR, which stable long-term demand.
Which real estate strategy fits Fort Wayne, IN?
The best-fit strategy in Fort Wayne, IN is careful cash-flow rentals with hands-on management. That approach the rent and price profile of the market.
How does Fort Wayne, IN rate as a rental market?
Fort Wayne, IN rates 3.0/5 for investability. With median values at $309K and rents near $1,591/mo, the market offers reasonable fundamentals for rental investors.
Is Fort Wayne, IN a friendly market for rental owners?
For rental operators, Fort Wayne, IN rates as landlord-friendly. The regulatory environment standard buy-and-hold operations.
Is house hacking profitable in Fort Wayne, IN?
House hacking works a challenging in Fort Wayne, IN. Rents of $1,591/mo against $309K acquisition make the strategy solid for owner-occupants.
You know 46804 now. You don’t know where it ranks.
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How 46804 ranks in Fort Wayne, IN
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