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 | Dearborn County | Indiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $223,737 | $140,405 | $242,182 |
| Price Trend (Annual %) | 24.7% | 7.9% | 8.2% |
| Median Gross Rent | $847 | $1,020 | $1,342 |
| Rent Trend (Annual %) | 2.1% | 4.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Dearborn County is about 59% higher than in Indiana. Rent is about 17% 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 Dearborn County, up about 24.7% and 2.1% a year respectively. Home prices are changing faster.
Median rent in Dearborn County rose about 13.6% between 2015 and 2023, from $746 to $847. Over the same span, rent in Indiana rose about 37.0%.
Affordability
On average, housing unit costs 2.7 yearly household incomes in Dearborn County.
Buying the median-priced home in Dearborn County costs roughly 22.0 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Dearborn County. The price-to-rent ratio in Indiana is about 11.5.
| Metric | Dearborn County | Indiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $223,737 | $140,405 | $242,182 |
| Median Household Income | $81,832 | $70,132 | $78,145 |
| Price-to-Income Ratio | 2.7 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Dearborn County rose about 226.5%, while median household income rose about 45.3% 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 | Dearborn County | Indiana Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 81.4% | 63.9% | 58.2% |
| Rental Rate | 14.7% | 26.9% | 31.3% |
| Vacancy Rate | 3.9% | 9.2% | 10.6% |
| Median Tenure (years) | 18.0 | 15.0 | 15.0 |
| Median Year Moved In | 2008 | 2011 | 2011 |
Dearborn County has a homeownership rate of 81.4%, higher than the Indiana average of 63.9%. Its housing vacancy rate is 3.9%, compared with 9.2% in Indiana.
Housing Stock
| Metric | Dearborn County | Indiana Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.50 people | 2.47 people | 2.54 people |
| Median Structure Built Year | 1984 | 1975 | 1978 |
| Median Number of Rooms | 6.3 | 5.9 | 5.5 |
The typical housing unit in Dearborn County was built around 1984. On average, 2.5 people live in a home with about 6.3 rooms, staying for about 18.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Dearborn County, Indiana.
What is the median home price in Dearborn County, Indiana?
The median home price in Dearborn County, Indiana is $223,737, higher than the Indiana average of $140,405.
What is the average home price in Dearborn 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 Dearborn County, Indiana?
The median gross rent in Dearborn County, Indiana is $847 per month, lower than the Indiana average of $1,020.
What was the median gross rent in Dearborn County in 2020?
In 2020, the median gross rent in Dearborn County, Indiana was $739 per month.
What is the price-to-rent ratio in Dearborn County, Indiana?
The price-to-rent ratio in Dearborn County, Indiana is about 22.0, meaning it would take roughly 22.0 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Dearborn County.
Are home prices or rent rising faster in Dearborn County, Indiana?
Both home prices and rent are rising in Dearborn County, up about 24.7% and 2.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Dearborn County, Indiana?
81.4% of households in Dearborn County, Indiana own their home, higher than the Indiana average of 63.9%.
What is the vacancy rate in Dearborn County, Indiana?
The housing vacancy rate in Dearborn County, Indiana is 3.9%, lower than the Indiana average of 9.2%.