Side-by-side comparison of Evansville, IN and Fort Wayne, IN — cap rates, rent, prices, and investment metrics.
Cash flow: Evansville has the edge with an estimated cap rate of 5.26% 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 Evansville vs $185,000 in Fort Wayne, while rents come in at $950/mo and $1,080/mo respectively.
Growth & appreciation: Fort Wayne is growing faster at 0.7% annually vs Evansville's 0.2%. Fort Wayne leads on home value appreciation at 2.5% per year.
Costs & risk: Property taxes are 0.82% in Evansville vs 0.85% in Fort Wayne. Vacancy rates of 6.5% and 5.8% are mixed — Fort Wayne has the tighter rental market.
Bottom line: Evansville edges out Fort Wayne on most key metrics. With a 5.26% cap rate, it offers solid cash flow potential. Use our free calculators to model specific deals in Evansville or Fort Wayne.