Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Adams County | Indiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $66,249 | $140,405 | $242,182 |
| Price Trend (Annual %) | 17.4% | 7.9% | 8.2% |
| Median Gross Rent | $798 | $1,020 | $1,342 |
| Rent Trend (Annual %) | 5.1% | 4.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Adams County is about 53% lower than in Indiana. Rent is about 22% lower than the Indiana average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Adams County, up about 17.4% and 5.1% a year respectively. Home prices are changing faster.
Median rent in Adams County rose about 46.7% between 2015 and 2023, from $544 to $798. Over the same span, rent in Indiana rose about 37.0%.
Affordability
On average, housing unit costs 1.1 yearly household incomes in Adams County.
Buying the median-priced home in Adams County costs roughly 6.9 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Adams County. The price-to-rent ratio in Indiana is about 11.5.
| Metric | Adams County | Indiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $66,249 | $140,405 | $242,182 |
| Median Household Income | $63,031 | $70,132 | $78,145 |
| Price-to-Income Ratio | 1.1 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Adams County fell about 18.7%, while median household income rose about 45.7% between 2009 and 2023 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Adams County | Indiana Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 76.6% | 63.9% | 58.2% |
| Rental Rate | 16.6% | 26.9% | 31.3% |
| Vacancy Rate | 6.8% | 9.2% | 10.6% |
| Median Tenure (years) | 17.0 | 15.0 | 15.0 |
| Median Year Moved In | 2009 | 2011 | 2011 |
Adams County has a homeownership rate of 76.6%, higher than the Indiana average of 63.9%. Its housing vacancy rate is 6.8%, compared with 9.2% in Indiana.
Housing Stock
| Metric | Adams County | Indiana Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.87 people | 2.47 people | 2.54 people |
| Median Structure Built Year | 1967 | 1975 | 1978 |
| Median Number of Rooms | 6.3 | 5.9 | 5.5 |
The typical housing unit in Adams County was built around 1967. On average, 2.9 people live in a home with about 6.3 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Adams County, Indiana.
What is the median home price in Adams County, Indiana?
The median home price in Adams County, Indiana is $66,249, lower than the Indiana average of $140,405.
What is the average home price in Adams County, Indiana?
The typical home price in %s, reported as the median sale price, is %s. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Adams County, Indiana?
The median gross rent in Adams County, Indiana is $798 per month, lower than the Indiana average of $1,020.
What was the median gross rent in Adams County in 2020?
In 2020, the median gross rent in Adams County, Indiana was $639 per month.
What is the price-to-rent ratio in Adams County, Indiana?
The price-to-rent ratio in Adams County, Indiana is about 6.9, meaning it would take roughly 6.9 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Adams County.
Are home prices or rent rising faster in Adams County, Indiana?
Both home prices and rent are rising in Adams County, up about 17.4% and 5.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Adams County, Indiana?
76.6% of households in Adams County, Indiana own their home, higher than the Indiana average of 63.9%.
What is the vacancy rate in Adams County, Indiana?
The housing vacancy rate in Adams County, Indiana is 6.8%, lower than the Indiana average of 9.2%.