Side-by-side comparison of South Bend, IN and Fort Wayne, IN — cap rates, rent, prices, and investment metrics.
Cash flow: South Bend has the edge with an estimated cap rate of 5.45% compared to Fort Wayne's 4.95%. Neither city passes the 1% rule outright, so deal sourcing and value-add strategies become more important. Median home prices are $155,000 in South Bend vs $185,000 in Fort Wayne, while rents come in at $980/mo and $1,080/mo respectively.
Growth & appreciation: Fort Wayne is growing faster at 0.7% annually vs South Bend's 0.3%. Fort Wayne leads on home value appreciation at 2.5% per year.
Costs & risk: Property taxes are 0.86% in South Bend vs 0.85% in Fort Wayne. Vacancy rates of 6.3% and 5.8% are mixed — Fort Wayne has the tighter rental market.
Bottom line: Fort Wayne edges out South Bend on most key metrics. While cap rates are moderate at 4.95%, Fort Wayne's overall profile is stronger. Use our free calculators to model specific deals in South Bend or Fort Wayne.