Allen County residents saw their home values drop in the worst economy since the Great Depression but paid less on mortgage costs, according to census figures released today.

The median home value in Fort Wayne fell an estimated 8 percent to $97,500 between 2006 and 2008. Declining home values were repeated across the state and nation. For Allen County, the value dipped about 4 percent to $113,500 for an average home.

The census numbers for the county are a bit off from those reported by the Fort Wayne Area Association of Realtors’ Multiple Listing Service. Those figures show a 5 percent decline over the period to a median of $97,000, according to Steve Cherifi, Multiple Listing Service and information technology director for the association.

The MLS does not reflect home sales by owner but "is probably as close to a complete picture as you can get," Cherifi said.

Overall, the housing numbers compared favorably with national figures, said John Stafford, director of the Community Research Institute at Indiana University-Purdue University Fort Wayne.

"I wonder if we’ll see some significant differences in ’09," he said.

The census numbers are from the American Community Survey sent to about 3 million addresses in the U.S. in 2008. It covers cities, counties and other areas with populations of at least 65,000. Only 25 Indiana counties, including Allen, and 10 Indiana cities were included. Figures for smaller populations will be released later.

The survey, released annually, replaces the long form but contains the same kind of information the form collected every 10 years. Federal and state governments distribute more than $400 billion annually to communities based on census data.

The report had some good news for northeast Indiana.

As the nation saw monthly mortgage costs rise $23 on average since 2006, Allen County had an estimated $65 drop, as homeowners took apparent advantage of low interest rates for home purchases and refinancing.

In addition, fewer homeowners were strapped with mortgages that ate deeply into their incomes. While nationally, those spending 35 percent or more of their incomes grew to more than a quarter of households, that portion of Allen County households remained level at 16.5 percent. Spending 30 percent or more on housing costs is considered excessive by government agencies.

Stafford said he’s unsure how much of the economic downturn is reflected in the 2008 data.

What surprised him, he said, was that local housing units continued to increase last year at a rate better than the national level – 2 percent compared to 1 percent since 2006.

Mobility – reported as the year in which people moved into their house or apartment – also was consistent with national numbers, Stafford noted. At both the Allen County and national levels, 36.8 percent of householders moved in 2005 or later. For the county, it was a 10-point increase from the year before and nearly four points higher than the national rate.

"When in ’08 did housing fall apart?" Stafford asked.

The census results only confirm a repeated mantra: low home values in northeast Indiana complement relatively low incomes. For some, it makes it hard to leave.

"I went through an experience 25 years ago," Stafford said. "I had a job opportunity in North Carolina. I could not afford to sell my house here and buy a house in the community where I’d be planning director for."

rshawgo@jg.net