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Updated over 6 years ago, 08/24/2018

User Stats

28
Posts
5
Votes
Polly Wu
  • Los Angeles, CA
5
Votes |
28
Posts

Fort Wayne Indiana-Current economy, development and rental market

Polly Wu
  • Los Angeles, CA
Posted

I live in L.A. and just started looking into properties in Fort Wayne, IN. I was confused a bit by how big of a difference the rent could be for a 3 bedroom 2 bath SFR with similar conditions in different areas when I looked it up on Zillow.com for rent. Hope my fellow BP member at Fort Wayne can share some insights about its economy, current development and rental market. Thanks!

Account Closed
  • Rental Property Investor
  • Indiana
93
Votes |
125
Posts
Account Closed
  • Rental Property Investor
  • Indiana
Replied

In FW, it depends on where the house is located.  A 3/1 in what I consider the hood, usually rents for around $500.  The same exact house in a north location can rent for $700 or more.  The purchase price reflects this as well.  FW has a very strong rental market.

User Stats

28
Posts
5
Votes
Polly Wu
  • Los Angeles, CA
5
Votes |
28
Posts
Polly Wu
  • Los Angeles, CA
Replied
 @Account Closed:

Thank you for the explanation!  I appreciate it. 

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User Stats

423
Posts
222
Votes
Kevin Manz
  • HVAC Tech
  • Fort Wayne, IN
222
Votes |
423
Posts
Kevin Manz
  • HVAC Tech
  • Fort Wayne, IN
Replied

Hi Camilla. @Polly Wu you most likely would not want to buy in the Southeast. Anywhere else in Fort Wayne your 3 bedrooms are going to go for a minimum $1000, easy to get well over that as well. There are a lot of big projects about to start in fort wayne, and investing here , I believe, will pay off handsomely. I would strongly recommend investing here. I really hope more ft wayners chime in. Best of luck.

User Stats

423
Posts
222
Votes
Kevin Manz
  • HVAC Tech
  • Fort Wayne, IN
222
Votes |
423
Posts
Kevin Manz
  • HVAC Tech
  • Fort Wayne, IN
Replied

What put Fort Wayne on your radar, @Polly Wu

User Stats

28
Posts
5
Votes
Polly Wu
  • Los Angeles, CA
5
Votes |
28
Posts
Polly Wu
  • Los Angeles, CA
Replied
@Kevin Manz:
50% population increase, low unemployment rate, low price-to-rent ratio, good median household income, low housing vacant rate, low crime. But I am still trying to understand this market and what's the development trend for this city.

What's your option about this market? Which areas do you like and why if you don't mind me asking? 

User Stats

1
Posts
0
Votes
Justin Griffin
  • Fort Wayne, IN
0
Votes |
1
Posts
Justin Griffin
  • Fort Wayne, IN
Replied

I live in Fort Wayne. I was wondering if you ever invested in the area? 

User Stats

1,473
Posts
1,993
Votes
Omar Khan
  • Rental Property Investor
  • Dallas, TX
1,993
Votes |
1,473
Posts
Omar Khan
  • Rental Property Investor
  • Dallas, TX
Replied

@Polly Wu The great @Kay Kay Singh lives in Fort Wayne and has a ton of experience in the local investor. He's also a bit of a local real estate celebrity, so he can definitely clue you in. 

User Stats

258
Posts
177
Votes
Kay Kay Singh
  • Rental Property Investor
  • Fort Wayne, IN
177
Votes |
258
Posts
Kay Kay Singh
  • Rental Property Investor
  • Fort Wayne, IN
Replied

@Omar Khan Thanks for the Kind words and I am not that great and I am 2cent contibutor.@Polly Wu Fort Wayne is a great City and I have lived here for 18 years and know this city very well .As said by my other friends above that there some areas you want to stay away from and most of the Fort Wayne is great for rentals and the rent ratio is pretty good and the local laws are very landlord friendly. The rent market is hot in Fort Wayne and around Fort Wayne and also you can look smaller towns around Fort Wayne and those are even better.

User Stats

10
Posts
1
Votes
Kenneth G.
  • Rental Property Investor
  • Williamsburg, VA
1
Votes |
10
Posts
Kenneth G.
  • Rental Property Investor
  • Williamsburg, VA
Replied
@Kay Kay Singh could you recommend a lender in the area that is investor friendly? Thanks