FORT WAYNE, Ind. (WOWO) — Finding an apartment in Fort Wayne became slightly easier this summer compared to last year, although renters are still facing significant competition, according to a new report from RentCafe. The apartment listing website’s latest Rental Competitivene ss Report ranks Fort Wayne as the 17th most competitive small rental market in the country, with its competitiveness score dropping from 84.3 last year to 80.8 this year. According to the report, apartments in Fort Wayne are taking an average of 39 days to fill, the longest period recorded during the past four peak rental seasons. The increase gives prospective tenants more time to consider their options before signing a lease. Despite the slower pace, demand remains strong. An average of nine renters are competing for each available apartment, matching last year’s figure and remaining at the highest level recorded in four peak seasons. The city’s apartment occupancy rate also declined slightly, falling from 95.4 percent last year to 94.8 percent this year. That means roughly 95 out of every 100 apartments remain occupied. Meanwhile, more existing tenants are choosing to stay in their homes. The report found that 71.1 percent of renters renewed their leases, the highest renewal rate in four peak seasons. New apartment construction has also slowed. According to RentCafe, no new rental units were added to the market during the latest peak season, compared to a 0.22 percent increase in available housing stock last year. The findings suggest that while Fort Wayne renters may have slightly more time to secure housing, limited new supply and high lease renewal rates continue to restrict available options. RentCafe analyzed rental conditions across 150 markets nationwide, examining factors such as occupancy rates, lease renewals, apartment availability and competition among prospective tenants. The full report and nationwide rankings are available on RentCafe’s website. The post Fort Wayne rental market becomes slightly less competitive, report finds appeared first on WOWO News/Talk 92.3 FM and 1190 AM. ...read more read less