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Featured local agent — Clay City, IN
Sarah Mitchell
Compass Real Estate · Clay City, IN
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Clay City, IN Housing Market
The typical home in Clay City, IN is worth $182,795, rose 5.0% over the past year (Zillow Home Value Index, August 2026). The last median sale price Redfin published was $70,000, -56.3% year over year (through May 2026). With 0.5 months of supply and homes going under contract in about 64 days, Clay City is a balanced market. At today's 7.03% 30-year fixed rate, 20% down on a $182,795 home is about $976/mo in principal and interest.
Key numbers for Clay City, IN
Typical home value
$182,795
+5.0% in 12 months
Zillow, August 2026
Median sale price
$70,000
-56.3% year over year
Redfin, through May 2026
Days on market
64
Slow-moving
Redfin, through May 2026
Active listings
1
0.5 months of supply
Redfin, through May 2026
30-yr fixed rate
7.03%
Freddie Mac weekly average
Freddie Mac via FRED, September 2026
Median household income
$68,036
Home costs 2.7x income
U.S. Census ACS, 2023
Sale-to-list ratio
89.1%
Selling below asking
Redfin, through May 2026
Zillow figures are as of August 2026 and refresh monthly. Redfin figures are through May 2026 — Redfin stopped publishing its public market trackers in June 2026, so those numbers are final, not current. Mortgage rates come from Freddie Mac via FRED and update weekly.
Is Clay City a buyer's or seller's market?
Clay City, IN is a balanced market, based on 0.5 months of supply and homes selling in about 64 days. Under 2 months of supply is a severe shortage: expect competition on almost anything priced correctly, and little room to negotiate below asking.
Inputs are Redfin's final published period (May 2026). How we classify markets · Where the data comes from
What does the Clay City housing market data show?
Every row below is Redfin's final published month for Clay City, IN. Redfin, through May 2026
| Metric | Value |
|---|---|
| Median sale price | $70,000 |
| Median list price | $120,000 |
| Year-over-year price change | -56.3% |
| Median price per sq ft | $37/sq ft |
| Median days on market | 64 days |
| Active inventory | 1 listings |
| Months of supply | 0.5 months |
| Sale-to-list price ratio | 89.1% |
| Homes sold (that month) | 2 |
| New listings (that month) | 1 |
| Listings with a price cut | 100.0% |
| Market condition | Balanced market |
How to read these numbers
- Median sale price
- Half the homes that closed sold for more than this, half for less. It moves with what kind of home sold that month, so a quiet month with two big sales can swing it. Redfin's figure for Clay City is frozen at May 2026.
- Typical home value (ZHVI)
- Zillow's estimate of what a mid-market home in Clay City is worth right now, whether or not it sold. It is smoother than the median sale price and it still refreshes monthly, which is why this page leads with it.
- Months of supply
- How long it would take to sell every active listing at the current pace. Under 3 favors sellers, over 6 favors buyers, and 3 to 6 is the balanced band.
- Days on market
- Median time from listing to accepted offer. Short means you should have financing ready before you tour; long means there is room to negotiate on price and repairs.
- Sale-to-list ratio
- Sale price divided by the last asking price. Above 100% means bidding above asking is normal here; below 100% means the typical buyer got a discount.
- Price per square foot
- The size-adjusted price. Use it to compare a 1,400 sq ft house to a 2,600 sq ft house, not to value your own home — lot, condition and age move it a lot.
- Listings with a price cut
- Share of active listings that dropped their asking price in the month. A high share is the earliest visible sign that sellers are ahead of what buyers will pay.
- Typical asking rent (ZORI)
- Zillow's repeat-rent index for asking rents on new leases. Paired with the home value it gives the price-to-rent ratio in the rent-vs-buy section below.
How have Clay City home prices moved?
Across the 23 months we hold for Clay City, IN, the median sale price rose 27.5%, from $54,900 in April 2021 to $70,000. The live Zillow value series has rose 5.0% in the last 12 months, which is the more current read now that Redfin's series has stopped. 100.0% of Clay City listings cut their asking price in the final Redfin month — a high share, and the clearest sign that list prices were running ahead of what buyers would pay. For prices to fall meaningfully from here, supply would have to keep building past 0.5 months while the sale-to-list ratio slips below its current 89.1%. Watch those two together — they move before the median does.
Redfin, through May 2026 — the chart ends at Redfin's final published month.
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What does it cost to buy a home in Clay City?
Priced off the typical home value of $182,795 at the current 7.03% 30-year fixed rate. These are principal and interest only — property taxes, homeowner's insurance, HOA dues and mortgage insurance are on top, and they vary enough by property that we will not guess them for you.
| Down payment | Cash at close | Loan amount | Monthly P&I |
|---|---|---|---|
| 20% | $36,559 | $146,236 | $976/mo |
| 5% | $9,140 | $173,656 | $1,159/mo |
Zillow, August 2026 for the price · Freddie Mac via FRED, September 2026 for the rate
What income do you need?
Lenders generally want housing costs under 28% of gross income. On the 20%-down payment of $976, that implies roughly $41,823 a year before you add taxes and insurance. The median household in Clay City earns $68,036, about $26,213 more than that threshold — the typical local household clears the payment on a typical local home with 20% down. That puts the price-to-income ratio at 2.7x — close to the historical 3x norm, which is unusual in 2026.
Run it with your own numbers: affordability calculator · mortgage calculator
Buying in Clay City in the next 12 months?
Tell us your timeline. We send the Clay City market brief: the price ranges that actually clear, how long homes sit, and what to fix on your credit before you apply.
Is it cheaper to rent or buy in Clay City?
Zillow does not publish a rent index (ZORI) for Clay City, IN, so we cannot compute a price-to-rent ratio here without borrowing a nearby market's rents and calling them local — which we will not do. The rent vs. buy calculator works with a rent figure you supply.
Is inventory rising or falling in Clay City?
Active listings in Clay City, IN went from 1 in March 2023 to 1 in May 2026, a +0.0% change. Inventory has been roughly flat, which usually keeps prices moving with rates rather than with local supply.
| Month | Active listings | New listings |
|---|---|---|
| May 2023 | 1 | 1 |
| August 2023 | 3 | 1 |
| October 2023 | 2 | 1 |
| February 2024 | 1 | 2 |
| April 2024 | 1 | 1 |
| May 2024 | 1 | not published |
| May 2025 | 3 | 2 |
| June 2025 | 1 | 1 |
| July 2025 | 2 | 1 |
| November 2025 | 1 | not published |
| March 2026 | 2 | not published |
| May 2026 | 1 | 1 |
Redfin, through May 2026
How does Clay City compare to Indiana and the U.S.?
Clay City homes sell for $70,000 — 76% below the Indiana median of $287,300. Against the national median of $410,700, Clay City runs 83% lower. Year-over-year, Clay City moved -56.3% against Indiana's +4.2% — a bigger swing than the state as a whole.
| Market | Median sale price | YoY | Days on market |
|---|---|---|---|
| Clay City, IN | $70,000 | -56.3% | 64 days |
| Indiana statewide | $287,300 | +4.2% | 26 days |
| United States | $410,700 | not published | not published |
City and state rows: Redfin, through May 2026 · U.S. row: Freddie Mac via FRED, April 2026 (MSPUS, quarterly)
What to do next in Clay City
What buyers should watch
- Months of supply, currently 0.5. It turns before price does — when it climbs past 6, sellers start taking offers they would have rejected a quarter earlier.
- The share of listings cutting price, currently 100.0%. A listing that has already cut once is the one most likely to accept below asking.
- The gap between 5% and 20% down here is $183 a month in principal and interest alone, before mortgage insurance. That gap, not the price, is usually what decides your timeline.
- Rate moves. At 7.03%, every full point of rate change moves the payment on a $182,795 home more than a 5% price change does.
- Your credit tier before you shop, not after — it sets the rate you are quoted. Run your numbers first.
What sellers should know
- The median Clay City listing goes under contract in 64 days. If yours passes that mark, the market is telling you the price is wrong — not that you need more showings.
- Homes here close at 89.1% of asking. Price to that ratio from day one rather than chasing the market down in cuts.
- In the last published month Clay City added 1 new listings against 2 sales — more clearing than arriving, which is the better window to list.
- Your equity moved +5.0% in the last 12 months on the Zillow value series. That, not the price you paid, is what sets your net proceeds.
- Comparable ZIP-level pricing inside Clay City varies more than the citywide median suggests — check the ZIP pages below before you set a number.
Homes for sale in Clay City
There are currently 1 homes listed for sale in Clay City, Indiana. The median listing price is $120K.
Active listings
1
Homes on market
Median list price
$120K
Avg. days on market
64
Days until sale
New this week
1
Newly listed
How much do homes cost in Clay City by property type?
How the Clay City, IN market breaks down across single-family homes, condos and townhouses. Redfin, through May 2026
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $70,000 | $37/sq ft | 2 | 64 days |
Who lives in Clay City?
American Community Survey estimates for Clay City. U.S. Census ACS, 2023
Population
1,186
Households
467
Median income
$68,036/yr
Median age
34.4 years
Owner-occupied
63.4%
Median home value
$86,700
Median gross rent
$706/mo
Mean commute
32.9 min
63.4% of occupied homes in Clay City are owner-occupied, and the rest are rented — which is the share that decides how much of the local housing stock ever reaches the for-sale market. The Census self-reported median home value is $86,700 against Zillow's $182,795 typical value; the gap is normal — ACS asks owners what they think their home is worth, Zillow models transactions.
Which public schools serve Clay City?
2 schools tracked · 732 students
The largest public schools serving Clay City, IN by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Clay City Elementary School
Grades K-6 · 382 students
Clay City Jr-Sr High School
Grades 7-12 · 350 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Clay City, IN?
Ordered by distance from Clay City, not by size. Compare Clay City side by side with any of them.
Clay City housing market FAQ
Is Clay City a buyer's or seller's market?
Clay City, IN is currently a balanced market. That read comes from 0.5 months of supply, homes going under contract in about 64 days, and sellers getting 89.1% of their asking price in the last month Redfin published (May 2026).
How much do homes cost in Clay City?
The typical home in Clay City, IN is worth $182,795 (Zillow Home Value Index, August 2026). The median sale price in the last month Redfin published was $70,000, about $37 per square foot.
Is Clay City cheaper than the rest of Indiana?
Clay City's median sale price of $70,000 is 76% lower than the Indiana statewide median of $287,300, and 83% below the U.S. median of $410,700. Both figures are for the same period.
How long do homes take to sell in Clay City?
Homes in Clay City, IN spent a median of 64 days on market before going under contract, versus 26 days statewide. Over two months means buyers have time to inspect, compare and negotiate. (Redfin, through May 2026.)
What income do you need to buy a home in Clay City?
At the current 30-year fixed rate of 7.03%, 20% down on a $182,795 home is about $976 a month in principal and interest. Lenders typically want that under 28% of gross income, which works out to roughly $41,823 a year before taxes, insurance, HOA dues or mortgage insurance. The local median household income is $68,036.
Are home prices rising in Clay City?
The typical home value in Clay City, IN rose 5.0% over the last 12 months, from $174,114 to $182,795 (Zillow, August 2026). This is the live series — it refreshes monthly.
What are the cheapest ZIP codes in Clay City?
Clay City ZIP-level sale prices are not all published for the same period, so ranking them would compare different months. The ZIP pages listed on this page show what we hold for each one individually.
Is now a good time to buy in Clay City?
That depends on your timeline, not on a headline. What the data says today: Clay City, IN is a balanced market with 0.5 months of supply, the 30-year fixed rate is 7.03%. Properties Incorporated publishes the data; it does not give financial advice.
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