Mortgage Calculator & Closing Costs: Fort Wayne, IN
Mortgage payment estimates, closing cost breakdowns, and homebuying data for Fort Wayne, Indiana.
Median Home Price
$205K
Population
264K
Avg Monthly Rent
$1,020
Property Tax Rate
0.84% *
* Property tax shown is the Indiana state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Fort Wayne.
Fort Wayne vs Indiana Median
The median home price in Fort Wayne is $205,000, which is 15% below the Indiana state median of $240,000.
Mortgage Calculator — Fort Wayne, IN
Pre-filled with Fort Wayne median home price and Indiana tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $205K home using Indiana's 0.84% tax rate and $1,700/yr insurance.
5% Down
$1,630/mo
Down: $10,250
Loan: $195K
P&I: $1,231
Tax: $144
Insurance: $142
PMI: $114
10% Down
$1,559/mo
Down: $20,500
Loan: $185K
P&I: $1,166
Tax: $144
Insurance: $142
PMI: $108
20% Down (No PMI)
$1,322/mo
Down: $41,000
Loan: $164K
P&I: $1,037
Tax: $144
Insurance: $142
Income needed (28% rule): $57K/year with 20% down, $67K/year with 10% down.
Rent vs Buy in Fort Wayne
Rent
$1,020/mo
vs
Buy (10% down)
$1,559/mo
Price-to-rent ratio: 16.7 — A ratio between 15-20 means the rent vs buy decision in Fort Wayne depends heavily on your timeline. If you plan to stay 5+ years, buying likely wins. For shorter stays, renting preserves flexibility.
The median home price in Fort Wayne is $205,000, 15% below the Indiana state median of $240,000. With a population of 263,886, Fort Wayne is a mid-size city where home prices tend to be more accessible than in many parts of Indiana.
Property taxes in Indiana average 0.84% annually. This moderate property tax rate means a $205,000 home in Fort Wayne would carry roughly $144/month in property taxes. Homeowners insurance in Indiana runs approximately $1,700 per year. This is within the normal range nationally.
Average rent in Fort Wayne is $1,020/month. The price-to-rent ratio in Fort Wayne is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
Fort Wayne offers strong affordability. With median prices under $250K, first-time buyers have realistic paths to homeownership, especially combined with Indiana's IHCDA Next Home program.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Fort Wayne.