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 | Gibson County | Indiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $111,206 | $140,405 | $242,182 |
| Price Trend (Annual %) | 11.4% | 7.9% | 8.2% |
| Median Gross Rent | $914 | $1,020 | $1,342 |
| Rent Trend (Annual %) | 5.1% | 4.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Gibson County is about 21% lower than in Indiana. Rent is about 10% 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 Gibson County, up about 11.4% and 5.1% a year respectively. Home prices are changing faster.
Median rent in Gibson County rose about 38.8% between 2015 and 2023, from $658 to $914. Over the same span, rent in Indiana rose about 37.0%.
Affordability
On average, housing unit costs 1.6 yearly household incomes in Gibson County.
Buying the median-priced home in Gibson 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 Gibson County. The price-to-rent ratio in Indiana is about 11.5.
| Metric | Gibson County | Indiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $111,206 | $140,405 | $242,182 |
| Median Household Income | $68,685 | $70,132 | $78,145 |
| Price-to-Income Ratio | 1.6 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Gibson County rose about 106.9%, while median household income rose about 51.5% 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 | Gibson County | Indiana Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 67.5% | 63.9% | 58.2% |
| Rental Rate | 21.6% | 26.9% | 31.3% |
| Vacancy Rate | 10.9% | 9.2% | 10.6% |
| Median Tenure (years) | 16.0 | 15.0 | 15.0 |
| Median Year Moved In | 2010 | 2011 | 2011 |
Gibson County has a homeownership rate of 67.5%, higher than the Indiana average of 63.9%. Its housing vacancy rate is 10.9%, compared with 9.2% in Indiana.
Housing Stock
| Metric | Gibson County | Indiana Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.45 people | 2.47 people | 2.54 people |
| Median Structure Built Year | 1971 | 1975 | 1978 |
| Median Number of Rooms | 5.5 | 5.9 | 5.5 |
The typical housing unit in Gibson County was built around 1971. On average, 2.4 people live in a home with about 5.5 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Gibson County, Indiana.
What is the median home price in Gibson County, Indiana?
The median home price in Gibson County, Indiana is $111,206, lower than the Indiana average of $140,405.
What is the average home price in Gibson 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 Gibson County, Indiana?
The median gross rent in Gibson County, Indiana is $914 per month, lower than the Indiana average of $1,020.
What was the median gross rent in Gibson County in 2020?
In 2020, the median gross rent in Gibson County, Indiana was $690 per month.
What is the price-to-rent ratio in Gibson County, Indiana?
The price-to-rent ratio in Gibson 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 Gibson County.
Are home prices or rent rising faster in Gibson County, Indiana?
Both home prices and rent are rising in Gibson County, up about 11.4% and 5.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Gibson County, Indiana?
67.5% of households in Gibson County, Indiana own their home, higher than the Indiana average of 63.9%.
What is the vacancy rate in Gibson County, Indiana?
The housing vacancy rate in Gibson County, Indiana is 10.9%, higher than the Indiana average of 9.2%.