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Sunday, 7 March 2021

Fort Wayne jumps 29 spaces in 2021 Best-Performing Cities ranking

Credit: WFFT
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Fort Wayne jumps 29 spaces in 2021 Best-Performing Cities ranking
Fort Wayne jumps 29 spaces in 2021 Best-Performing Cities ranking

Fort Wayne proves to be one of the most affordable housing markets in the nation according to a new report.

Our city jumped 29 spaces, moving to 82 from 111 out of 200 in the 2021 Best-Performing Cities Index ranking from the Milken Institute.

For welcoming us into your home tonight.

The summit city proving to be one of the most affordable housing markets in the nation according to a new report.

Fox 55 nico pennisi tells us why we've come out on top.

Fort wayne jumped 29 spaces, moving to 82 from 111 out of 200 in the 2021 best- performing cities index ranking from the milken institute.

Community research institute director rachel blakeman says this comes at no surprise."low interest rates are going to be helping folks.

People who have two incomes in their household are gonna make that more attractive.

It's nice to get some positive national attention for something we've known about for a long time."

Blakeman housing affordability is what set us apart.

Affordability is gauged not on how low homes are selling or renting for, rather individuals paying less than 30 percent of their income on housing costs.

"we came in at the third most affordable of the 200 largest metros in the country - that's a pretty impressive metric."

Blakeman realtor patrick harris says it's not all it's cracked up to be.

His clients get the idea that housing is so affordable in our city.

He says compared to other cities, it is, but that doesn't do the full picture justice.

"it doesn't take into account the housing crunch that we're in with low inventory.

You get a lot of very mixed up expectations as far as what fort wayne can offer a person and what it can't based on housing prices, availability, negations on getting a deal accepted."the conflicting landscape can be hard for new homebuyers and renters to understand.

He says there are not enough properties available for the demand.

"sellers realize they can sell their houses at top value, but then they're gonna turn and buy another house and they're gonna end up paying top value too.

It creates a situation where sellers are looking at it and going 'why should i sell my house now and then pay so much more to buy another house when i'm perfectly okay with where i'm at?'"still, blakeman is hopeful."having that housing affordability makes us very marketable and should help us attract new people to come to fort wayne."

In fort wayne i'm nico pennisi fox 55 news for more details on the

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