A new report from the financial planning website SmartAsset.com shows Fort Wayne is the fifth-best city in the United States for first-time homebuyers.
SmartAsset compared 185 of the largest U.S. cities across four categories, home market favorability, affordability, livability, and housing costs as a percentage of income.
The publication says median annual housing costs in the Fort Wayne region make up only about 18% of the median household income.
Since March, mortgage rates have fallen steadily. According to Freddie Mac data, the 30-year fixed-rate average was at 2.90% and the 15-year fixed-rate average stood at 2.40% for the week ending September 24. That is three-quarters of a point lower than a year ago.
The website shows the under-45 homeownership rate in Fort Wayne is 47.41%, almost two percentage points higher than the national average and the 21st-highest of all 185 cities in our study.
SmartAsset says the number one city for first-time homebuyers is Grand Rapids, MI.
To view the full list and see what metrics were used, click here.