Many individuals and families make the decision to relocate to the Fort Wayne area each year. If you are included in this group, you may be wondering what life may be like in this city in the northeastern section of the state. Fort Wayne is home to less than 275,000 residents, so it offers residents the benefits of modern conveniences without the hustle and bustle associated with life in a major metropolitan area. By exploring key factors associated with life in Fort Wayne, you can be better prepared to make the transition soon.
Mortgage Options in Fort Wayne
Home prices are affordable in Fort Wayne, and because of this, many of the city’s residents are proud homeowners. If you are thinking about purchasing a home when you relocate, you may be curious about home financing options in this area. Fort Wayne has many of the same loan programs available to American citizens across the country, including the same competitive mortgage rates and terms. Some of the more popular loan programs include VA, FHA, conventional and jumbo loans. You can typically find both fixed and adjustable interest rates with terms as long as 30 years. You can speak with a mortgage representative to learn more about specific loan programs you qualify for.
Typical House Prices in Fort Wayne
The average home in the United States is priced around $270,000, but you will be pleasantly surprised to learn that home prices in Fort Wayne are substantially more affordable. The U.S. Census Bureau reports that the median value of a home in Fort Wayne is $100,700. In addition, rental rates are also very affordable in this city. The median rental rate is $670 per month. Because housing is one of the most expensive factors in a person’s budget, you can see that the cost of living in Fort Wayne is exceptionally affordable in comparison to the national average.
Income Potential in Fort Wayne
Many people also want to know how far their earned dollar will stretch in a new town before they relocate. Because housing prices are so affordable, you can reasonably expect income to be slightly lower than the national average in this area. The annual per capita income is less than $24,000, and the median household income is $43,774. Approximately 19 percent of area residents live below the poverty line. As you can see, there is considerable potential for you to enjoy great spending power with every dollar you earn in Fort Wayne.
Quality Schools in Fort Wayne
If you will be relocating to the Fort Wayne area with your children, you may be interested in knowing about the quality of schools in this Indiana town. Fort Wayne Community Schools is the name of the local school district. This is a public district that offers academic programs from pre-K through high school. The district has a total of 50 schools, and it serves approximately 30,000 students across the city. In addition, it has a healthy operating budget of more than $292 million. None of the schools are nationally recognized, but the school district is known for excelling academically.
Fort Wayne Crime Statistics
You understandably want to know more about the crime rate in Fort Wayne. Fort Wayne is a rather densely populated area, so it does rank higher than the state average in areas of violent and property crimes. In the last year, there were 25 reported homicides. This equates to 9.6 murders per 100,000 residents, as compared to 5.6 murders per 100,000 residents through the state average. Fort Wayne also ranks higher than the state average in the areas of rape and robbery, but not in the area of assault. It also ranks higher in the areas of burglary and theft, but not in the area of motor vehicle theft.
Many of Fort Wayne’s residents love living in this vibrant, relaxed town. With all four seasons represented well, proximity to great recreational opportunities, plenty of job openings and more, there is much to love about living in Fort Wayne. Take time to get pre-qualified for a mortgage before you begin looking for your new home in Fort Wayne.