Market insight

Market Overview

  • Fort Wayne is located in the northeast corner of Indiana.
  • The population of Fort Wayne is 270,402 based on the 2019 Estimated U.S. Census Data.
  • The population of Allen County is 379,299 based on based on the 2019 Estimated U.S. Census Data.
  • The population of the Fort Wayne area CSA is 611,373 based on the 2019 Estimated U.S. Census Data.
  • The CSA consists of Allen, Whitley, DeKalb, Huntington, Wells, Noble and Adams counties.
  • The Fort Wayne CSA ranks 81 out of 172 total CSA’s in the US based on 2019 Estimated U.S. Census Data.

Market Inventory Totals

  • Total Allen County retail inventory = 13,980,986 SF
  • Total Allen County office inventory = 13,015,039 SF
  • Total NE IN (or 10 county) industrial inventory  = 110,946,699 SF

Distances of major cities from Fort Wayne:

  • Indianapolis 116 miles
  • Detroit 160 miles
  • Chicago 158 miles
  • Cincinnati 154 miles
  • Columbus 156 miles

Total Population by County - Northeast Indiana

2010 Population Census 2019 Estimated Population % Change 4/1/10 to 7/1/19 Estimated*
Adams 34,387 35,777 4.1%
Allen 355,329 379,299 6.7%
DeKalb 42,223 43,475 2.9%
Huntington 37,124 36,520 -1.6%
Kosciusko 77,355 79,456 2.7%
LaGrange 37,128 39,614 6.7%
Noble 47,536 47,744 0.4%
Steuben 34,185 34,594 1.3%
Wabash 32,888 30,996 -5.8%
Wells 27,636 28,296 2.4%
Whitley 33,292 33,964 2%
Totals 759,083 789,735 4.0%

*2019 Estimated population based on U.S. Census data as of 7/1/2019

MARKET REPORTS

2020 Office Survey Report

The past 12 months has been a tremendously dynamic period for the Fort Wayne office market. The vacancy rate increased slightly to 10.12% up from 9.29% a year ago. Several companies leased new offices in Fort Wayne, five downtown projects were in various stages of pre-construction, and the pandemic has led some companies to vacate space.

2020 Industrial Market Report

2019 was another good year for industrial real estate in northeast Indiana.  For the 10th consecutive year we had positive absorption and another year with a low vacancy rate. Despite rising construction costs there were 2.5 million SF of new construction in the region.

2020 Retail Market Report

The overall retail vacancy rate in the twelve months from May 2019 to May 2020 increased from 12.0% to 13.1% with a negative absorption of 125,000 sq. ft. This is the second consecutive year of negative absorption and increasing vacancy, which illustrates a deterioration in retail fundamentals.  Negative absorption has occurred despite what was at the time a growing economy, as these numbers are all pre COVID-19.   This data highlights one consumer trend, which is a shift from shopping at brick and mortar retail stores to online sales. We expect that this trend will continue and intensify.

2019 Office Market Report

Fort Wayne market vacancy was lower than the national average of 12.2% (source: CBRE) and lower than most Midwest cities.

MARKET NEWS

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LOCAL & REGIONAL LINKS

Northeast Indiana Regional Partnership

Greater Fort Wayne Inc.

U.S. Department of Labor Unemployment Situation Summary

Regional Information
As prepared by Indiana Dept. of workforce Development

City of Fort Wayne
Business Information including demographics, economic development news and other facts

Allen County Government Site