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Sarah Mitchell

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Compass Real Estate · Indiana

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Indiana housing market

The typical home in Indiana is worth $260,095, up 3.0% over the past year. Homes that actually closed went for a median of $287,300 after 26 days on market. On supply, pricing discipline, and speed of sale, Indiana currently reads as a seller's market at 2.0 months of supply. At today's 7.03% 30-year fixed rate, that typical home costs $1,389 a month in principal and interest with 20.0% down.

Sources: Zillow, August 2026 · Refreshes monthly · Redfin, through May 2026 · Freddie Mac via FRED, September 2026

Indiana housing market at a glance

Every tile carries the provider and the month it was published

Typical home value

$260,095

+3.0% YoY · Zillow, August 2026

Median sale price

$287,300

Redfin, through May 2026

Typical asking rent

$1,484/mo

Median of 71 cities · Zillow, August 2026

30-yr fixed rate

7.03%

Freddie Mac via FRED, September 2026

Monthly P&I

$1,389

20.0% down, 30-yr fixed

Days on market

+1 days YoY

Active listings

16,818

-7.0% YoY

Median household income

$70,051

U.S. Census ACS, 2023

Typical home value is Zillow's ZHVI — the value of a typical home across the whole housing stock, not just the homes that sold. Median sale price is what actually closed. Redfin stopped publishing public market trackers in June 2026; latest available period is May 2026.

Where Indiana home prices are heading

Indiana's typical home value is $260,095, up 3.0% over 12 months. The two-year number matters more than the one-year number: it spans a full rate cycle rather than a single seasonal swing. Values are at or within a rounding error of their two-year high.

Against the national picture, Indiana runs 29.5% below the U.S. typical home value of $368,697, and its 12-month move of +3.0% is outpacing the national pace of +1.2%.

What would have to change for Indiana prices to fall. Prices fall when supply outruns demand for long enough that sellers compete on price rather than waiting. Indiana is carrying 2.0 months of supply — below the four-month line, so inventory would have to roughly double before sellers lose pricing power. Active listings are -7.0% year over year and new listings -5.0%, so supply is still tightening, which supports prices even with weak demand. The other lever is the rate. At 7.03%, existing owners with cheaper mortgages have little reason to list, which is what has kept supply artificially low across most of the country. A sustained move down in rates unlocks those sellers and adds inventory; it also adds buyers. Which side moves first decides the direction.

Market trends

Statewide monthly series · Redfin, through May 2026 · No longer updating · Redfin stopped publishing public market trackers in June 2026; latest available period is May 2026.

What it costs to buy in Indiana at today's rate

Down payment

$52,019

20.0% of value

Loan amount

$208,076

30-yr fixed

Monthly P&I

$1,389

at 7.03%

Income needed

$59,529

28.0% front-end ratio

A buyer purchasing the typical Indiana home at $260,095 puts $52,019 down, finances $208,076, and pays $1,389 a month in principal and interest. Property taxes, homeowners insurance, HOA dues, and mortgage insurance sit on top of that and vary by county — budget for them separately rather than assuming the P&I figure is the payment.

Lenders typically want principal and interest under 28.0% of gross income, which puts the qualifying income for that purchase at roughly $59,529. Indiana's median household earns $70,051 (Census ACS 2023) — a gap of $10,522 below what the median household brings in. Put differently, the median household would spend 23.8% of gross income on principal and interest alone — inside the ratio most lenders underwrite to.

The value-to-income ratio in Indiana is 3.7x. Between roughly 3.5x and 5x, prices are ahead of local earnings but still within reach for higher-earning households. Model your own numbers in the affordability calculator or the mortgage calculator.

Figures are illustrative, not a quote or a pre-approval. Rate: Freddie Mac via FRED, September 2026 · Value: Zillow, August 2026 · Income: U.S. Census ACS, 2023

Buying in Indiana in the next 12 months?

Tell us your timeline. We send the Indiana market brief: the price ranges that are actually clearing, the cities where your budget goes furthest, and what to fix on your credit before you apply.

Rent or buy in Indiana?

Zillow publishes its rent index per city rather than per state, so the honest statewide read is the median across the 71 largest Indiana cities that carry it: $1,484 a month. Set against a typical home value of $260,095, that is a price-to-rent ratio of 14.6x.

Under 15x, buying tends to beat renting for anyone staying more than a few years — the rent you avoid does more work than the capital you tie up. Principal and interest on the typical home runs $95 less per month than that typical rent — and that is before taxes, insurance, and the roughly 1% of value a year most owners spend on maintenance.

For a second read on the same question, the Census ACS puts median gross rent across all Indiana households — every unit type, not just what is currently listed — at $1,020 a month (2023), with 70.4% of Indiana households owning rather than renting. Asking rents lead the ACS figure because they reflect today's new leases rather than the whole stock of existing ones.

Run the rent-vs-buy calculator with your own holding period and down payment — the statewide ratio is a starting point, not an answer.

Supply: what is on the market in Indiana

Indiana inventory, new listings, sales, and supply, latest month versus the same month a year earlier
Measure	Latest	Year earlier	Change
Active listings	16,818	18,080	-7.0%
New listings	10,066	10,592	-5.0%
Homes sold	8,243	8,029	+2.7%
Months of supply	2.0	2.3	-0.3
Sale-to-list ratio	98.3%	98.4%	Below asking

What these mean. Active listings is the shelf — everything a buyer could tour today. New listings is restock rate; when it falls faster than sales, the shelf empties. Months of supply is active inventory divided by homes sold per month: at the current sales pace, how many months it would take to sell every home currently listed. Under 4 months of supply tilts toward sellers, 4 to 5 months is the neutral band, and above 5 months tilts toward buyers — above 7 months is a glut. These are the same thresholds the market verdict on every city and ZIP page is scored against. Sale-to-list ratio is the discipline check — above 100% means homes are clearing over asking on average, below means sellers are conceding.

Redfin, through May 2026 · No longer updating — Redfin stopped publishing public market trackers in June 2026; latest available period is May 2026. Zillow's inventory and new-listing counts are published per city and appear on the individual city pages.

Where Indiana home values are moving fastest

12-month change in typical home value · Zillow, August 2026

Rising fastest

Falling

Computed from Zillow's typical home value for each city at August 2026 against the same month a year earlier, across the 150 largest Indiana cities by population. Small markets swing hardest because a handful of transactions moves the index — read the city page before treating a large move as a trend.

The most and least expensive cities in Indiana

Typical home value across the 150 largest cities · Zillow, August 2026

Most expensive

1.Zionsville$704,148
2.Carmel$574,220
3.Westfield$473,286
4.Bargersville$456,860
5.Fishers$444,527
6.Granger$418,846
7.Cicero$409,234
8.Sheridan$394,047
9.Noblesville$392,593
10.Leo-Cedarville$388,237

Most affordable

1.Gary$92,352
2.Clinton$130,186
3.East Chicago$132,058
4.Anderson$135,767
5.Washington$149,420
6.Peru$154,910
7.Elwood$157,223
8.Muncie$158,233
9.Connersville$160,016
10.Gas City$161,465

The spread between Zionsville and Gary is 7.6x — one reason a single statewide number is close to useless for a buyer with a fixed budget. Pick the city first, then the price band. Speed is a separate axis from price: Boonville was the quickest of these markets to clear at 3 days on market (Redfin, through May 2026).

How Indiana compares

Indiana typical home value, 12-month change, median household income, and value-to-income ratio compared with the United States and neighboring states
Market	Typical value	12-mo change	Median income	Value / income
Indiana	$260,095	+3.0%	$70,051	3.7x
United States	$368,697	+1.2%	—	—
Illinois	$297,573	+5.3%	$81,702	3.6x
Ohio	$248,803	+3.4%	$69,680	3.6x
Michigan	$266,292	+4.0%	$71,149	3.7x

The three states above are Indiana's nearest land neighbours — the markets buyers most often price against when a move is still negotiable. Ohio carries a lower typical home value than Indiana, which is what makes it the usual destination for equity-funded moves out of Indiana.

Values and 12-month changes: Zillow, August 2026 · Refreshes monthly. Income: U.S. Census ACS, 2023. ACS publishes household income per state, not for the nation on the same basis, so the U.S. row shows home value only.

Indiana housing markets by city

571 cities tracked — the 60 largest by population shown

Fort Wayne

$248,442

Evansville

$204,516

South Bend

$201,639

Fishers

$444,527

Carmel

$574,220

Bloomington

$315,772

Hammond

$179,704

Noblesville

$392,593

Lafayette

$269,022

Gary

$92,352

Muncie

$158,233

Greenwood

$327,893

Kokomo

$185,658

Terre Haute

$162,375

Anderson

$135,767

Elkhart

$233,030

Westfield

$473,286

Columbus

$280,503

Mishawaka

$216,127

Jeffersonville

$253,784

Lawrence

$268,242

West Lafayette

$368,090

Portage

$269,771

New Albany

$239,041

Merrillville

$245,189

Plainfield

$334,756

Richmond

$164,715

Valparaiso

$362,139

Goshen

$282,903

Crown Point

$361,710

Michigan City

$195,500

Zionsville

$704,148

Brownsburg

$358,683

Granger

$418,846

Hobart

$246,240

Schererville

$359,643

East Chicago

$132,058

Franklin

$284,320

Greenfield

$289,335

Munster

$356,538

Avon

$355,319

La Porte

$280,850

Clarksville

$207,787

St. John

Pop. 22K

Seymour

$233,074

Shelbyville

$227,832

Logansport

$161,885

Lebanon

$303,537

New Castle

$171,984

Huntington

$201,996

Vincennes

$172,411

Warsaw

$282,500

Jasper

$271,759

Crawfordsville

$231,178

Dyer

$361,768

Griffith

$252,443

Frankfort

$217,779

New Haven

$245,987

Beech Grove

$193,393

Cedar Lake

$336,613

Browse all 571 Indiana cities Compare every state →

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What to do next in Indiana

If you are buying

Set the payment before the price. Start from what you can carry monthly, then work backwards with the affordability calculator — the typical Indiana home is $1,389/mo in P&I today.
Pick the city, not the state. Values across Indiana run from $92,352 in Gary to $704,148 in Zionsville.
Put two finalists head to head in the city comparison tool before you tour anything.
Fix the credit file before you shop the rate. A better score moves the payment more than haggling over price does at 7.03%.

If you are selling

Price against your city, not the statewide figure — the spread between Indiana markets is wider than the year-over-year move in any of them.
Read the supply table above. At 2.0 months of supply, you still set the terms — but only if the home is priced to the comps on day one.
Watch days on market in your city, not the state. The statewide median was 26 days (Redfin, through May 2026); your city page carries its own.
Time the listing against new-listing volume. New listings are -5.0% year over year — less competition than a year ago.

Indiana housing market questions

What is the typical home value in Indiana?

The typical home value in Indiana is $260,095 (Zillow, August 2026). That is a +3.0% change over the past 12 months. The median price of homes that actually sold was $287,300 (Redfin, through May 2026); sale prices skew toward whatever segment is transacting, which is why they differ from the typical-value figure.

Are Indiana home prices going up or down?

Indiana home values are up 3.0% year over year (Zillow, August 2026). Values are at or near their highest reading in the past two years.

How much income do you need to buy a home in Indiana?

At the current 30-year fixed rate of 7.03%, a $260,095 home with 20.0% down carries roughly $1,389 a month in principal and interest. Using the 28% front-end ratio most lenders underwrite to, that implies a household income of about $59,529 before taxes, insurance, HOA dues, or mortgage insurance are added. Indiana's median household income is $70,051 (Census ACS, 2023), a gap of $10,522 below the median household. These figures are illustrative, not a quote or a pre-approval.

Is it cheaper to rent or buy in Indiana?

Typical asking rent across the largest Indiana cities Zillow publishes rent data for is $1,484 a month (median of 71 cities, Zillow, August 2026). Against a typical home value of $260,095, that is a price-to-rent ratio of 14.6x. Ratios under about 15x generally favour buying if you plan to stay put; above about 20x, renting and investing the difference tends to win over short horizons. Principal and interest alone runs $95 less than that typical rent each month, before taxes, insurance, and maintenance.

Which Indiana cities are the most affordable?

Among the largest cities we track in Indiana, the lowest typical home values are in Gary ($92,352), Clinton ($130,186), East Chicago ($132,058), Anderson ($135,767), Washington ($149,420). Values are Zillow's typical-home-value index for August 2026.

Which Indiana cities are the most expensive?

The highest typical home values among the largest Indiana cities are in Zionsville ($704,148), Carmel ($574,220), Westfield ($473,286), Bargersville ($456,860), Fishers ($444,527). Price per square foot, inventory, and days on market for each are on the individual city pages.

Which Indiana cities are appreciating the fastest?

Over the past 12 months the largest home-value gains among Indiana cities we track were in Upland (+9.4%), Peru (+8.4%), Plymouth (+8.4%), Syracuse (+7.9%), Angola (+7.7%). Fast appreciation usually reflects constrained supply, in-migration, or a small transaction base — check the individual city page before reading it as a trend.

How long do homes take to sell in Indiana?

Homes in Indiana spent a median of 26 days on market in the last month Redfin published (Redfin, through May 2026). That is 1 days slower than the same month a year earlier. The quickest market among the state's largest cities was Boonville at 3 days. Redfin stopped publishing public market trackers in June 2026; latest available period is May 2026.

How does Indiana compare to neighboring states?

Indiana's typical home value of $260,095 compares with Illinois at $297,573, Ohio at $248,803, Michigan at $266,292. The U.S. typical home value is $368,697, putting Indiana 29.5% below the national figure. Ohio is cheaper on a typical-value basis.

Is now a good time to buy in Indiana?

That depends on your timeline, not the headline. The measurable inputs today: a 30-year fixed rate of 7.03%, 2.0 months of supply statewide (Redfin, through May 2026), active listings -7.0% year over year, and home values +3.0% over the past year. Buyers with a five-year-plus horizon are mostly exposed to the payment, not the price, so the rate you can qualify for matters more than the month you buy. Properties Incorporated is an independent data platform, not a brokerage or lender — this is information, not advice.

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