Fort Wayne, IN Federal Housing Finance Agency Home Price Index (FHFA HPI)

The Fort Wayne, IN, Federal Housing Finance Agency (FHFA) House Price Index (HPI) is a weighted, repeat-sales index that measures average price changes in repeat sales or refinancings on the same properties. The index covers single-family homes nationwide and was created in 1991.

In general, home equity is the portion of a property's value that the owner has paid for with their own funds. Home prices are determined by many factors including location, amenities, school districts, and more. The HPI can be used as a tool to help measure how these factors affect home prices in different areas across the country.

Between 1991 and 2019, the Fort Wayne HPI increased by an average of 3.87% per year. In 2019 alone, the index rose by 5.51%. This was higher than the national average of 4.94%. The recent rise in home prices in Fort Wayne can be attributed to a number of factors including low interest rates, a strong job market, and limited supply of homes for sale relative to population growth and demand from buyers.

As of 2019 Q4, the median home price in Fort Wayne was $131,900 while the median home equity was $61,100. This means that homeowners in Fort Wayne have built up an average equity stake of 46% over time. Homeownership rates have remained relatively stable over time in Fort Wayne even as prices have risen steadily. As of 2019 Q4, 64% of all housing units were owner-occupied compared to 65% twenty years prior. Despite rising prices making it more difficult for some families to become homeowners or keep their homes as investments during periods of economic downturns like recessionsary conditions caused by COVID-19 pandemics , long-term trends show that homeownership remains an important part of life for many people across America who aspire to stability and security .