Wakarusa, Fort Wayne, IN—46845
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Wakarusa, Fort Wayne, IN
As of Oct '25, the median home price in Wakarusa, Fort Wayne, IN is $379,000, with a year-over-year change of 2.1%. This indicates that home prices in Wakarusa, Fort Wayne, IN are increasing. According to Zillow, the 1-year price projection is 2.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $379,000 | 2.1% |
| Single Family | $380,000 | 2.2% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $271,000 | 8.0% |
3 Bed | $338,000 | 1.8% |
4 Bed | $412,000 | 2.0% |
| 5 Bed | $574,000 | 2.5% |
% of Housing Stock
Rental Trends — Wakarusa, Fort Wayne, IN
As of July '25, Rentcast reports the average rent in Wakarusa, Fort Wayne, IN is $1,880, with a year-over-year rent change of -4.1%. Per bedroom, the median rent as of July '25 in Wakarusa, Fort Wayne, IN is studios: $1,180, 1-bedrooms: $1,160, 2-bedrooms: $1,590, 3-bedrooms: $1,930, 4-bedrooms: $2,470. The most common rental property sizes in Wakarusa, Fort Wayne, IN are 1-bedroom and 2-bedroom, accounting for 35.1% and 34.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,870 | $1,880 |
| Studio Rent | $1,180 | $1,180 |
| 1 Bed Rent | $1,140 | $1,160 |
| 2 Bed Rent | $1,500 | $1,590 |
| 3 Bed Rent | $1,900 | $1,930 |
| 4 Bed Rent | $2,400 | $2,470 |
% of Rental Stock
Property Listings — Wakarusa, Fort Wayne, IN
As of Oct '25, Realtor.com reports that the median days on market for a home in Wakarusa, Fort Wayne, IN is 39. This is a increase of 10.0% 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 30.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $397,000 | 8.0% |
Listing Count | 147 | -6.0% |
| Listings as % of Homes | 0.6% | -6.0% |
Days on Market | 39 | 10.0% |
Demographics — Wakarusa, Fort Wayne, IN
As of the latest ACS Survey released in 2023, Wakarusa, Fort Wayne, IN has a population of 28,700, which has increased by 25.0% over the past 5 years. Wakarusa, Fort Wayne, IN is a popular place for families, as children make up 27.2% of the population. The area has a highly educated workforce, with 52.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 28,700 | 25.0% |
% Under 18 | 27.2% | -3.2% |
% Seniors | 17.8% | 19.5% |
% WFH | 12.8% | 132.7% |
% w/ College Degree | 52.9% | 20.8% |
As of the latest ACS Survey released in 2023, Wakarusa, Fort Wayne, IN is a predominantly white area, with 86.1% of the population identifying as white. The white population has shrunk by 2.5% in the last 5 years. The second most common race or ethnicity in Wakarusa, Fort Wayne, IN is asian, making up 4.5% of the population. Foreign-born residents account for 4.6% of the population in Wakarusa, Fort Wayne, IN, and this percentage has decreased by 19.3% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 86.1% | -2.5% |
% Black | 3.0% | -16.7% |
% Hispanic | 3.4% | 3.0% |
% Asian | 4.5% | 80.0% |
% Foreign Born | 4.6% | -19.3% |
Mortgage and Risk — Wakarusa, Fort Wayne, IN
According to HUD data as of 2023, there were 789 mortgage originations in Wakarusa, Fort Wayne, IN, of which 90.0% of loans were conventional mortgages. The average loan-to-value was 55.0%, with 19.0% above 90% LTV (elevated). This implies medium mortgage risk in Wakarusa, Fort Wayne, IN. Investor activity is low, as 1.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 789 |
% Conventional Loans | 90.0% |
% Government Loans | 10.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Wakarusa, Fort Wayne, IN
As of 2024, the percent of homes in Wakarusa, Fort Wayne, IN under the Section 8 program is 0.1%. 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. 1-bedroom and 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Wakarusa, Fort Wayne, IN, because HUD payments exceed market rent, while 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 1 |
Total Units Section 8 | 1 |
% Rentals under Section 8 | 0.1% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $230 | $1,140 | $1,370 |
| 2 Bedroom | $160 | $1,500 | $1,660 |
| 3 Bedroom | $190 | $1,900 | $2,090 |
| 4 Bedroom | -$140 | $2,400 | $2,260 |
Affordability — Wakarusa, Fort Wayne, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3 |
| Median Home Price | $379,000 |
| Median Household Income | $116,000 |