Clay County, Indiana Housing Market Prices
Clay County Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 45% above the Indiana median More expensive than 81% of counties in Indiana$206,944
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Median rent 18% below the Indiana median$872
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Clay County | Indiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $206,944 | $142,738 | $248,835 |
| Price Trend (Annual %) | 19.2% | 7.2% | 7.5% |
| Median Gross Rent | $872 | $1,062 | $1,407 |
| Rent Trend (Annual %) | 3.4% | 4.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Clay County is about 45% higher than in Indiana. Rent is about 18% lower than the Indiana average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Clay County, up about 19.2% and 3.4% a year respectively. Home prices are changing faster.
Median rent in Clay County rose about 33.6% between 2015 and 2024, from $653 to $872. Over the same span, rent in Indiana rose about 42.6%.
Affordability
On average, housing unit costs 2.9 yearly household incomes in Clay County.
Buying the median-priced home in Clay County costs roughly 19.8 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Clay County. The price-to-rent ratio in Indiana is about 11.2.
| Metric | Clay County | Indiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $206,944 | $142,738 | $248,835 |
| Median Household Income | $70,786 | $71,967 | $80,455 |
| Price-to-Income Ratio | 2.9 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Clay County rose about 221.5%, while median household income rose about 54.1% between 2009 and 2025 — 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 | Clay County | Indiana Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 73.3% | 64.4% | 58.5% |
| Rental Rate | 17.3% | 26.9% | 31.2% |
| Vacancy Rate | 9.4% | 8.8% | 10.2% |
| Median Tenure (years) | 16.0 | 15.0 | 15.0 |
| Median Year Moved In | 2010 | 2011 | 2011 |
Clay County has a homeownership rate of 73.3%, higher than the Indiana average of 64.4%. Its housing vacancy rate is 9.4%, compared with 8.8% in Indiana.
Housing Stock
| Metric | Clay County | Indiana Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.46 people | 2.45 people | 2.53 people |
| Median Structure Built Year | 1972 | 1975 | 1978 |
| Median Number of Rooms | 6.0 | 5.9 | 5.5 |
The typical housing unit in Clay County was built around 1972. On average, 2.5 people live in a home with about 6.0 rooms, staying for about 16.0 years on average.
Clay County, IN Housing Compared With Nearby Counties
Clay County, IN is typical in size for this group, 26,409 residents against a local median of 29,442, so the measures below are close to a like for like comparison. Where Clay County, IN breaks from the counties next to it is median home price, sitting 54% above the local median of $134,473 at $206,944.
The counties themselves spread $251,445 on median home price, so Clay County, IN sits at one end of an already wide local range rather than apart from it. Clay County, IN has the 2nd highest median home price of the 5 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Clay County, IN | 26,409 | $206,944 #2/5 | $872 #4/5 | 80.9% #3/5 |
| Vigo County, IN | 106,109 | $64,620 | $924 | 61.7% |
| Owen County, IN | 21,604 | $305,556 | $911 | 81.4% |
| Putnam County, IN | 37,280 | $204,327 | $883 | 75.4% |
| Parke County, IN | 16,406 | $54,111 | $704 | 82.4% |
Frequently Asked Questions
Common questions about the housing market in Clay County, Indiana.
What is the median home price in Clay County, Indiana?
The median home price in Clay County, Indiana is $206,944, higher than the Indiana average of $142,738.
What is the average home price in Clay County, Indiana?
The typical home price in Clay County, Indiana, reported as the median sale price, is $206,944. 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 Clay County, Indiana?
The median gross rent in Clay County, Indiana is $872 per month, lower than the Indiana average of $1,062.
What was the median gross rent in Clay County in 2020?
In 2020, the median gross rent in Clay County, Indiana was $716 per month.
What is the price-to-rent ratio in Clay County, Indiana?
The price-to-rent ratio in Clay County, Indiana is about 19.8, meaning it would take roughly 19.8 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Clay County.
Are home prices or rent rising faster in Clay County, Indiana?
Both home prices and rent are rising in Clay County, up about 19.2% and 3.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Clay County, Indiana?
73.3% of households in Clay County, Indiana own their home, higher than the Indiana average of 64.4%.
What is the vacancy rate in Clay County, Indiana?
The housing vacancy rate in Clay County, Indiana is 9.4%, higher than the Indiana average of 8.8%.
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