Fort Wayne ranks third this month in a listing of the most affordable of the 100 largest U.S. cities, according to a website geared toward real estate investors.
RealtyHop's Housing Affordability Index for June found a 1.9% increase in Fort Wayne's affordability index. Home prices increased to $142,600 from $139,945 in the May report. Given a standard mortgage, local taxes, and median annual incomes in Fort Wayne, the average family should expect to allocate $689, or 18.04% of the median household income to own a property.
Detroit was ranked No. 1 on the affordability index. Wichita, Kansas, was No. 2. Los Angeles, Miami and New York took the top three spots, respectively, for least affordable.
The RealtyHop Housing Affordability Index analyzes proprietary and ACS Census data to provide an index of housing affordability and homeownership burden. Median home prices are calculated using more than 300,000 listings in the RealtyHop database over the month prior to publication.
Pura Vida reaches deal on European distribution
Vera Bradley Inc.'s jewelry subsidiary, Pura Vida Bracelets, has struck a partnership with European distributor Hectic Ltd., company officials announced Tuesday. Hectic will be responsible for the sales, marketing, and distribution of Pura Vida's products for wholesale accounts throughout Europe.
“Pura Vida already has an enthusiastic fan base throughout Europe, and we are extremely excited about our ability to further expand our business there and introduce even more customers to the Pura Vida lifestyle,” company founder Paul Goodman said in a statement.
Premier Bank announces tag line after merger
First Federal Bank of the Midwest and Home Savings Bank on Tuesday revealed the new tag line for their combined operation. Premier Bank, an identity previously announced, will use the tag line “Powered by People.”
The 78 branches will begin adopting the Premier Bank name in June and complete the full computer system integration in mid-July.
Designed to be a friendly and modern logo, the Premier Bank wordmark includes a dynamic “P” monogram that resembles a map location pin and emphasizes connectedness with customers and local communities.