Real Estate Investing in Fort Wayne, Indiana (46809)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 46809 (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 (46809)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 46809 Fort Wayne
ZIP 46809 in Fort Wayne, IN carries a sturdy set of headwinds. Home values near $193K and rents of $825/mo sit inside a market where underwriting has to be tight.
The 46809 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
Turning to rents, 46809 offers a low basis, the region around Fort Wayne has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
A durable renter share of 35% in 46809 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
New investors are better served looking at Fort Wayne's stable or hybrid ZIPs before stepping into 46809. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Fort Wayne:
Property Strategy for 46809
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $141,930 | $960 | 4.9% | +11.1% | $70,965 |
| 3BR | $184,775 | $1,190 | 4.6% | +9.5% | $61,592 |
| 4BR | $228,302 | $1,300 | 4.1% | +8.7% | $57,076 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 46809 Compare?
| Metric | 46809 | Fort Wayne | Fort Wayne, IN | Indiana |
|---|---|---|---|---|
| Home Value | $193,061 | $94,884 | N/A | $248,442 |
| 5-Year CAGR | 8.0% | 7.0% | N/A | 7.7% |
| Avg Rent | $825 | $1,291 | N/A | - |
| Cap Rate | 3.3% | 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 46809 (Fort Wayne, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $193,061 |
| Monthly Rent | $825 |
| Price-to-Rent | 19.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.1% |
| Cap Rate | 3.3% |
| 5-Year IRR | 11.3% |
📈 Home Appreciation
| 1-Year | +8.7% ▲ |
| 3-Year CAGR | +6.7% ▲ |
| 5-Year CAGR | +8.0% ▲ |
| 10-Year CAGR | +9.7% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.3%). 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 46809
Population: 8,677
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 46809
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
Should investors worry about vacancy in Fort Wayne, IN?
Fort Wayne, IN carries elevated vacancy risk. Expect stable absorption at market rents of $825/mo.
How do landlord-tenant laws work 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.
Is Fort Wayne, IN a good market for buy-and-hold investors?
Fort Wayne, IN rates 3.0/5 for investability. With median values at $193K and rents near $825/mo, the market offers reasonable fundamentals for rental investors.
What is the best play in 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.
What do rentals go for in Fort Wayne, IN?
Rents in Fort Wayne, IN run near $825/mo. Compared with median home prices of $193K that produces solid gross yields for typical rentals.
You know 46809 now. You don’t know where it ranks.
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How 46809 ranks in Fort Wayne, IN
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