Rent vs Buy in Fort Wayne, IN
Monthly cost of renting vs owning a median-priced home · 30-yr fixed, 20% down
Rent and buy are roughly balanced in Fort Wayne, IN
Price-to-rent ratio is 17.3 (under 15 favors buying, over 21 favors renting). Renting costs $1,199/mo; owning runs about $1,834/mo — $635/mo more to own.
| Monthly cost to own | Amount |
|---|---|
| Mortgage (P&I, 6.80% rate) | $1,296 |
| Property tax | $228 |
| Home insurance | $104 |
| Maintenance | $207 |
| Total to own | $1,834 |
| Average 2BR rent | $1,199 |
Based on a median home value of $248,474 with a $49,695 down payment. Owning also builds equity over time, which a monthly comparison doesn't capture. Estimates use national averages for taxes, insurance and maintenance — your actual costs will vary.