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 | Bartholomew County | Indiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $133,928 | $140,405 | $242,182 |
| Price Trend (Annual %) | 10.1% | 7.9% | 8.2% |
| Median Gross Rent | $1,110 | $1,020 | $1,342 |
| Rent Trend (Annual %) | 4.3% | 4.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Bartholomew County is about 5% lower than in Indiana. Rent is about 9% higher 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 Bartholomew County, up about 10.1% and 4.3% a year respectively. Home prices are changing faster.
Median rent in Bartholomew County rose about 35.6% between 2015 and 2023, from $818 to $1,110. Over the same span, rent in Indiana rose about 37.0%.
Affordability
On average, housing unit costs 1.7 yearly household incomes in Bartholomew County.
Buying the median-priced home in Bartholomew County costs roughly 10.1 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 Bartholomew County. The price-to-rent ratio in Indiana is about 11.5.
| Metric | Bartholomew County | Indiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $133,928 | $140,405 | $242,182 |
| Median Household Income | $79,374 | $70,132 | $78,145 |
| Price-to-Income Ratio | 1.7 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Bartholomew County rose about 63.3%, while median household income rose about 52.0% between 2009 and 2023 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Bartholomew County | Indiana Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 64.9% | 63.9% | 58.2% |
| Rental Rate | 27.9% | 26.9% | 31.3% |
| Vacancy Rate | 7.1% | 9.2% | 10.6% |
| Median Tenure (years) | 15.0 | 15.0 | 15.0 |
| Median Year Moved In | 2011 | 2011 | 2011 |
Bartholomew County has a homeownership rate of 64.9%, higher than the Indiana average of 63.9%. Its housing vacancy rate is 7.1%, compared with 9.2% in Indiana.
Housing Stock
| Metric | Bartholomew County | Indiana Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.48 people | 2.47 people | 2.54 people |
| Median Structure Built Year | 1978 | 1975 | 1978 |
| Median Number of Rooms | 5.7 | 5.9 | 5.5 |
The typical housing unit in Bartholomew County was built around 1978. On average, 2.5 people live in a home with about 5.7 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Bartholomew County, Indiana.
What is the median home price in Bartholomew County, Indiana?
The median home price in Bartholomew County, Indiana is $133,928, lower than the Indiana average of $140,405.
What is the average home price in Bartholomew 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 Bartholomew County, Indiana?
The median gross rent in Bartholomew County, Indiana is $1,110 per month, higher than the Indiana average of $1,020.
What was the median gross rent in Bartholomew County in 2020?
In 2020, the median gross rent in Bartholomew County, Indiana was $939 per month.
What is the price-to-rent ratio in Bartholomew County, Indiana?
The price-to-rent ratio in Bartholomew County, Indiana is about 10.1, meaning it would take roughly 10.1 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 Bartholomew County.
Are home prices or rent rising faster in Bartholomew County, Indiana?
Both home prices and rent are rising in Bartholomew County, up about 10.1% and 4.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Bartholomew County, Indiana?
64.9% of households in Bartholomew County, Indiana own their home, higher than the Indiana average of 63.9%.
What is the vacancy rate in Bartholomew County, Indiana?
The housing vacancy rate in Bartholomew County, Indiana is 7.1%, lower than the Indiana average of 9.2%.