Updated about 11 years ago on . Most recent reply
Is Fort Wayne actually as great as the statistics would suggest?
After reviewing many medium-sized cities, mostly near my hometown in Southern Michigan, I discovered Fort Wayne. Statistically, the city has low rates of crime for a city of that size within the 'rust belt', average income and unemployment figures, relatively low rental vacancies, and, most importantly, SFRs at less than 30k which, based on my understanding of the area, do not follow the popular negative sentiment on homes at this price point. Despite low entry costs, average rents are only slightly less than those in comparable cities with houses two to three fold in price. As a result, the so-called 2% rule should be easily met, if not greatly exceeded. What's more, many of these homes can be had near two of the city's growing university campuses.
Does anyone have any insights about this city? Is this a golden opportunity for buy and holding? Is my exuberance warranted, or have I missed some important variables?
Sources:
http://www.pediacities.com/city/fort-wayne-in-1600...