Department of Numbers

Fort Wayne Indiana Residential Rent and Rental Statistics

The median monthly gross residential rent in Fort Wayne, IN (the Fort Wayne metro area) was $715 in 2015 according to the Census ACS survey.1 Average gross rent in Fort Wayne was $720 in 2015. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2016 Fort Wayne median and average rent data will be released in September of 2017.

Data is also available below for Fort Wayne rental vacancy rates, Fort Wayne rent as a percent of median income and the fraction of renters in Fort Wayne.

Show dollars as: Nominal Real

Real Gross Rent in Fort Wayne Indiana (2015 dollars)2

2015 1 Year Change 3 Year Change
US Median Gross Rent $959 +3.12% +8.24%
Indiana Median Gross Rent $758 +1.20% +5.72%
Fort Wayne, IN Median Gross Rent $715 +9.16% +10.51%

Fort Wayne, IN Real Gross Rent Trends

At $715, real median gross rent in Fort Wayne was at its highest level in 2015 since the series began in 2005. At $720, real average gross rent in Fort Wayne was at its highest level in 2015 since the series began in 2005.

Real Gross Rent in Fort Wayne: Fort Wayne IN Median, Fort Wayne IN Average, Indiana Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Fort Wayne

Date US
Median
Indiana
Median
Fort Wayne, IN
Median
Fort Wayne, IN
Average
2015 $959 $758 $715 $720
2014 $930 $749 $655 $663
2013 $898 $725 $659 $643
2012 $886 $717 $647 $666
2011 $887 $720 $657 $641
2010 $901 $719 $643 $650
2009 $905 $738 $661 $644
2008 $920 $748 $684 $686
2007 $874 $707 $661 $659
2006 $883 $739 $671 $696
2005 $858 $725 $684 $694

Fort Wayne Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2015 the rental vacancy rate for Fort Wayne Indiana was 8.36% according to Census ACS data.

Rental Vacancy Rate in Fort Wayne Indiana

2015 1 Year Change 3 Year Change
US 5.85% -0.47% -0.92%
Indiana 7.94% -0.15% -0.49%
Fort Wayne, IN 8.36% +0.19% -3.62%

Trends in Fort Wayne, IN Rental Vacancy Rate

The rental vacancy rate in Fort Wayne peaked in 2009 at 14.65%. Since then it has fallen by 6.29% to 8.36%. Data records for this series originated in 2005. From a 2013 post peak low of 6.88%, the rental vacancy rate has increased by 1.48%.

Rental Vacancy Rate: Fort Wayne IN, Indiana, US

Rental vacancy rate in Indiana

Historical Rental Vacancy Rate data for Fort Wayne

Date US Indiana Fort Wayne, IN
2015 5.85% 7.94% 8.36%
2014 6.32% 8.09% 8.17%
2013 6.49% 7.00% 6.88%
2012 6.77% 8.43% 11.98%
2011 7.40% 8.47% 13.18%
2010 8.17% 8.78% 11.34%
2009 8.43% 10.44% 14.65%
2008 7.86% 9.02% 8.57%
2007 7.87% 9.72% 10.86%
2006 7.70% 11.17% 11.16%
2005 7.74% 10.67% 12.61%

Rent as a Fraction of Income

Using median household income data for Fort Wayne, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Fort Wayne, median monthly gross rent as a fraction of median household income was 16.87% in 2015 according to the ACS.

Fort Wayne Indiana Median Annual Rent as a Fraction of Median Household Income

2015 1 Year Change 3 Year Change
US 20.63% -0.26% -0.02%
Indiana 18.00% -0.27% -0.26%
Fort Wayne, IN 16.87% +0.89% +1.17%

Trends in Fort Wayne, IN Rent as a Fraction of Income

The fraction of median Fort Wayne household income required to pay median monthly gross rent peaked in 2013 (relative to the 2005 series origin) at 17.32%. Since then it has fallen by 0.45% to 16.87%.

Fraction of Income towards Rent: Fort Wayne IN, Indiana, US

Percent of median household income going towards median monthly gross rent in Fort Wayne Indiana

Historical Data for Annual Rent as a Fraction of Income in Fort Wayne Indiana

Date US Indiana Fort Wayne, IN
2015 20.63% 18.00% 16.87%
2014 20.89% 18.27% 15.98%
2013 20.78% 18.43% 17.32%
2012 20.65% 18.27% 15.70%
2011 20.70% 18.27% 16.30%
2010 20.50% 18.37% 15.57%
2009 20.12% 18.15% 15.68%
2008 19.00% 16.76% 15.13%
2007 18.66% 16.14% 14.83%
2006 18.90% 16.87% 15.11%
2005 18.89% 16.78% 15.46%

Renter Fraction in Fort Wayne Indiana

You can calculate the renter fraction in Fort Wayne in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Fort Wayne as a fraction of total Fort Wayne households. In 2015 30.52% of households were renters according to Census ACS data.

Fort Wayne Fraction of Renters by Household Units

2015 1 Year Change 3 Year Change
US 36.97% +0.07% +0.88%
Indiana 31.82% +0.40% +1.20%
Fort Wayne, IN 30.52% +1.21% +1.62%

Trends in the Fort Wayne, IN Renter Fraction

At 30.52%, the 2015 household based renter fraction in Fort Wayne was at its highest level. The origin year for the series is 2005.

Fraction of Renting Households: Fort Wayne IN, Indiana, US

Fraction of renters in Fort Wayne

History of Fort Wayne Renter Fraction

Date US Indiana Fort Wayne, IN
2015 36.97% 31.82% 30.52%
2014 36.90% 31.42% 29.31%
2013 36.50% 31.48% 30.13%
2012 36.09% 30.62% 28.90%
2011 35.42% 30.28% 28.60%
2010 34.65% 29.71% 28.77%
2009 34.13% 29.57% 28.06%
2008 33.36% 28.17% 26.64%
2007 32.80% 28.37% 27.16%
2006 32.73% 27.88% 27.74%
2005 33.10% 28.00% 26.86%

1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability.

2. Real dollars are calculated using the CPI-U less shelter series.

3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied.