CALCMONEY // HOME AFFORDABILITY // IN // FORT WAYNE
How much house can you afford in Fort Wayne? Based on local median home prices, current IN mortgage rates, and Fort Wayne property tax data.
$215,000
$1,380/mo
$59,145/yr
$196,645
Monthly housing costs of $1,380 represent 30.1% of Fort Wayne's median gross monthly income ($4,583/mo). At 30.1%, this slightly exceeds the 28% rule. Buyers need above-median income or a 25%+ down payment to qualify comfortably.
| Median Home Price | $215,000 |
| Down Payment (20%) | $43,000 |
| Loan Amount | $172,000 |
| Monthly PI Payment | $1,133 |
| Monthly Property Tax | $158 |
| Monthly Insurance Est. | $90 |
| Total Monthly PITI | $1,380 |
| Housing Cost % of Income | 30.1% |
| Required Income (28% rule) | $59,145/yr |
| Max Affordable Home | $196,645 |
$7,525
$1,761/mo
Fort Wayne Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $215,000 | Fort Wayne city median |
| Down Payment (20%) | $43,000 | Conventional loan |
| Monthly PITI | $1,380 | 6.9% rate, 30yr fixed |
| Required Income (28% rule) | $59,145 | Annual gross |
| Max Affordable Home | $196,645 | Based on median income |
| FHA Down (3.5%) | $7,525 | Minimum FHA |
| Housing Cost % of Income | 30.1% | Median income: $55,000/yr |
| Property Tax Rate | 0.88% | $1,892/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in Fort Wayne is $215,000, with a local 30-year mortgage rate of 6.9%. A buyer putting 20% down carries a loan of $172,000, generating a monthly P&I payment of $1,133. Adding property taxes ($158/mo) and homeowners insurance ($90/mo) brings total monthly PITI to $1,380.
Fort Wayne's property tax rate of 0.88% is near the national average, adding a standard increment to monthly housing costs. On the Fort Wayne median home, that is $158/month, or $1,892 per year.
Indiana levies a state income tax, which affects take-home pay and effective buying power. High-income earners in Fort Wayne should factor state tax liability into their overall housing budget — mortgage interest may be deductible on both federal and state returns.
Using the 28% rule, a household earning Fort Wayne's median income of $55,000/year can afford up to $1,283/month in total housing costs. Based on Fort Wayne's mortgage rate of 6.9% and property tax rate of 0.88%, that translates to a maximum affordable home price of approximately $196,645 with 20% down on a 30-year loan.
To afford the median Fort Wayne home priced at $215,000, you need an annual gross income of approximately $59,145. Total monthly housing costs (principal and interest of $1,133, property taxes of $158, and insurance of $90) come to $1,380/month, which equals 28% of the required income.
At the median home price of $215,000 and median household income of $55,000, the total monthly housing cost of $1,380 represents 30.1% of gross monthly income. This slightly exceeds the standard 28% rule. Buyers will need above-median income or a larger down payment to stay within guidelines.
A conventional 20% down payment on the median Fort Wayne home of $215,000 is $43,000. An FHA loan requires just 3.5% down — $7,525 — but adds mortgage insurance of roughly $147/month, bringing total FHA payments to $1,761/month.