Real Estate Investing in Fort Wayne, Indiana (46806)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 46806 (Fort Wayne, IN)? Our answer, based on the numbers below.
Strong fundamentals — affordable, appreciating, and stable. A confident pick for primary residence.
Rare combination of both appreciation and cash flow. These markets don't last long — worth serious consideration.
- Elevated vacancy: 11.6% vacancy may signal weakening demand.
- Elevated poverty: 22.1% poverty rate — can affect rent collection.
- Higher unemployment: 8.0% unemployment — tenant risk signal.
- Lower household income: $39,615 median — tenant affordability is tighter.
What’s happening in Fort Wayne, IN (46806)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 46806 Fort Wayne
This part of Allen County is not an easy win. The 46806 ZIP posts softness in key indicators, and the playbook that works in cleaner markets often stalls here.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $117K asset, 46806 is the wrong submarket. If the plan prices in friction, the yield can still work.
ZIP 46806'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.
Who lives in 46806 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
Distressed ZIPs reward experience. solid returns are possible in 46806, but they flow to investors who already understand how to operate in soft markets.
Here's what matters if you're considering buying a home in Fort Wayne:
Property Strategy for 46806
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $87,840 | $970 | 8.0% | +15.0% | $43,920 |
| 3BR | $115,847 | $1,200 | 7.5% | +11.8% | $38,616 |
| 4BR | $166,915 | $1,320 | 5.7% | +9.9% | $41,729 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 46806 Compare?
| Metric | 46806 | Fort Wayne | Fort Wayne, IN | Indiana |
|---|---|---|---|---|
| Home Value | $117,138 | $94,884 | N/A | $248,442 |
| 5-Year CAGR | 9.4% | 7.0% | N/A | 7.7% |
| Avg Rent | $970 | $1,291 | N/A | - |
| Cap Rate | 6.5% | 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 46806 (Fort Wayne, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $117,138 |
| Monthly Rent | $970 |
| Price-to-Rent | 10.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 9.9% |
| Cap Rate | 6.5% |
| 5-Year IRR | 15.9% |
📈 Home Appreciation
| 1-Year | +7.2% ▲ |
| 3-Year CAGR | +7.4% ▲ |
| 5-Year CAGR | +9.4% ▲ |
| 10-Year CAGR | +13.5% ▲ |
🏠 Rent Trends
| 1-Year | +2.9% ▲ |
| 3-Year CAGR | +4.5% ▲ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) is close to the estimated cap rate (6.5%). 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 46806
Population: 26,060
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 46806
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
South Wayne Elementary School
Adams Elementary School
Fairfield Elementary School
Harrison Hill Elementary School
Memorial Park Middle 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
How strong are rents in Fort Wayne, IN?
Expect rents around $970/mo per month in Fort Wayne, IN. With home values at $117K, the yield math works out to reasonable levels for rental investors.
Are landlord laws favorable in Fort Wayne, IN?
Fort Wayne, IN falls under IN landlord-tenant law, which is landlord-friendly. That backdrop makes day-to-day property management reasonable.
What is the investability score for Fort Wayne, IN?
With a 4.0/5 investability score, Fort Wayne, IN ranks as a solid market for rental property investors. Median prices of $117K and rents of $970/mo drive the underlying numbers.
How do experienced investors play Fort Wayne, IN?
Fort Wayne, IN investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($117K prices, $970/mo rents) make it a reasonable choice.
How viable is house hacking in Fort Wayne, IN?
Fort Wayne, IN is a a challenging market for house hackers. FHA or conventional owner-occupant buyers find the $117K price point reasonable to enter.
You know 46806 now. You don’t know where it ranks.
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How 46806 ranks in Fort Wayne, IN
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