Fort Wayne Rent Report: May 2024

Welcome to the Apartment List May 2024 Rent Report for Fort Wayne, IN. Currently, the overall median rent in the city stands at $980, after falling 0.8% last month. Prices are now down 1.8% year-over-year. Read on to learn more about what’s been happening in the Fort Wayne rental market and how it compares to trends throughout the nation as a whole.

Fort Wayne rents are down 0.8% month-over-month and down 1.8% year-over-year

The median rent in Fort Wayne fell by 0.8% over the course of April, and has now decreased by a total of 1.8% over the past 12 months. Fort Wayne’s rent growth over the past year has has fallen behind the state average (2.0%) and is similar to the national average (-0.8%).

Fort Wayne rent growth in 2024 pacing below last year

Four months into the year, rents in Fort Wayne have risen 0.5%. This is a slower rate of growth compared to what the city was experiencing at this point last year: from January to April 2023 rents had increased 1.4%.

April rent growth in Fort Wayne ranked #100 among large U.S. cities

Fort Wayne rents went down 0.8% in the past month, compared to the national rate of 0.5%. Among the nation's 100 largest cities, this ranks #100. Similar monthly rent growth took place in Oklahoma City, OK (-0.6%) and Scottsdale, AZ (-0.6%).

Fort Wayne is the #100 most expensive large city in the U.S., with a median rent of $980

Citywide, the median rent currently stands at $804 for a 1-bedroom apartment and $1,000 for a 2-bedroom. Across all bedroom sizes (ie, the entire rental market), the median rent is $980. That ranks #100 in the nation, among the country's 100 largest cities.

For comparison, the median rent across the nation as a whole is $1,226 for a 1-bedroom, $1,381 for a 2-bedroom, and $1,396 overall. The median rent in Fort Wayne is 29.8% lower than the national, and is similar to the prices you would find in Wichita, KS ($992) and Cleveland, OH ($988).