Mishawaka South, Fort Wayne, IN—46808
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Mishawaka South, Fort Wayne, IN
As of Oct '25, the median home price in Mishawaka South, Fort Wayne, IN is $165,000, with a year-over-year change of 1.6%. This indicates that home prices in Mishawaka South, Fort Wayne, IN are increasing. According to Zillow, the 1-year price projection is 2.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $165,000 | 1.6% |
| Single Family | $165,000 | 1.9% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $131,000 | 0.8% |
3 Bed | $178,000 | 1.7% |
4 Bed | $220,000 | 1.9% |
| 5 Bed | $247,000 | 0.0% |
% of Housing Stock
Rental Trends — Mishawaka South, Fort Wayne, IN
As of July '25, Rentcast reports the average rent in Mishawaka South, Fort Wayne, IN is $1,090, with a year-over-year rent change of 0.9%. Per bedroom, the median rent as of July '25 in Mishawaka South, Fort Wayne, IN is 1-bedrooms: $782, 2-bedrooms: $990, 3-bedrooms: $1,320, 4-bedrooms: $1,100. The most common rental property sizes in Mishawaka South, Fort Wayne, IN are 2-bedroom and 3-bedroom, accounting for 37.5% and 27.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $975 | $1,090 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $795 | $782 |
| 2 Bed Rent | $945 | $990 |
| 3 Bed Rent | $1,300 | $1,320 |
| 4 Bed Rent | $1,100 | $1,100 |
% of Rental Stock
Property Listings — Mishawaka South, Fort Wayne, IN
As of Oct '25, Realtor.com reports that the median days on market for a home in Mishawaka South, Fort Wayne, IN is 42. This is a increase of 39.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 58.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $167,000 | -2.0% |
Listing Count | 69 | 13.0% |
| Listings as % of Homes | 0.1% | 13.0% |
Days on Market | 42 | 39.0% |
Demographics — Mishawaka South, Fort Wayne, IN
As of the latest ACS Survey released in 2023, Mishawaka South, Fort Wayne, IN has a population of 19,900, which has increased by 2.7% over the past 5 years. Mishawaka South, Fort Wayne, IN is a moderately popular place for families, as children make up 23.0% of the population. The area has a poorly educated workforce, with 18.6% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 19,900 | 2.7% |
% Under 18 | 23.0% | -4.6% |
% Seniors | 12.8% | 21.9% |
% WFH | 5.1% | 155.0% |
% w/ College Degree | 18.6% | 16.2% |
As of the latest ACS Survey released in 2023, Mishawaka South, Fort Wayne, IN is a predominantly white area, with 70.9% of the population identifying as white. The white population has shrunk by 11.6% in the last 5 years. The second most common race or ethnicity in Mishawaka South, Fort Wayne, IN is hispanic, making up 13.4% of the population. Foreign-born residents account for 7.1% of the population in Mishawaka South, Fort Wayne, IN, and this percentage has increased by 82.1% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 70.9% | -11.6% |
% Black | 9.1% | 54.2% |
% Hispanic | 13.4% | 57.6% |
% Asian | 2.0% | 11.1% |
% Foreign Born | 7.1% | 82.1% |
Mortgage and Risk — Mishawaka South, Fort Wayne, IN
According to HUD data as of 2023, there were 447 mortgage originations in Mishawaka South, Fort Wayne, IN, of which 79.0% of loans were conventional mortgages. The average loan-to-value was 66.0%, with 34.0% above 90% LTV (very high). This implies large mortgage risk in Mishawaka South, Fort Wayne, IN. Investor activity is low, as 3.0% of loans were by investors. 15.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 447 |
% Conventional Loans | 79.0% |
% Government Loans | 21.0% |
% Investor Loans | 3.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 15.0% |
Loan Activity
Rentals and Section 8 — Mishawaka South, Fort Wayne, IN
As of 2024, the percent of homes in Mishawaka South, Fort Wayne, IN under the Section 8 program is 3.4%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Mishawaka South, Fort Wayne, IN, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 234 |
Total Units Section 8 | 133 |
% Rentals under Section 8 | 3.4% |
% Occupied Section 8 | 78.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $115 | $795 | $910 |
| 2 Bedroom | $155 | $945 | $1,100 |
| 3 Bedroom | $90 | $1,300 | $1,390 |
| 4 Bedroom | $400 | $1,100 | $1,500 |
Affordability — Mishawaka South, Fort Wayne, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.6 |
| Median Home Price | $165,000 |
| Median Household Income | $53,600 |