Fort Wayne Rent Report: June 2024

Welcome to the Apartment List June 2024 Rent Report for Fort Wayne, IN. Currently, the overall median rent in the city stands at $968, after falling 1.2% last month. Prices are now down 3.3% 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 1.2% month-over-month and down 3.3% year-over-year

The median rent in Fort Wayne fell by 1.2% over the course of May, and has now decreased by a total of 3.3% over the past 12 months. Fort Wayne’s rent growth over the past year has has fallen behind both the state (1.9%) and national averages (-0.8%).

Fort Wayne rent growth in 2024 pacing below last year

Five months into the year, rents in Fort Wayne have fallen 1.7%. This is a slower rate of growth compared to what the city was experiencing at this point last year: from January to May 2023 rents had increased 1.7%.

May rent growth in Fort Wayne ranked #98 among large U.S. cities

Fort Wayne rents went down 1.2% in the past month, compared to the national rate of 0.5%. Among the nation's 100 largest cities, this ranks #98. Similar monthly rent growth took place in Oakland, CA (-1.1%) and Scottsdale, AZ (-1.6%).

Fort Wayne is the #100 most expensive large city in the U.S., with a median rent of $968

Citywide, the median rent currently stands at $794 for a 1-bedroom apartment and $987 for a 2-bedroom. Across all bedroom sizes (ie, the entire rental market), the median rent is $968. 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 $1,233 for a 1-bedroom, $1,389 for a 2-bedroom, and $1,404 overall. The median rent in Fort Wayne is 31.1% lower than the national, and is similar to the prices you would find in Cleveland, OH ($1,020) and Wichita, KS ($1,001).