Granger, Indiana Housing Market Prices
Granger 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 99% above the Indiana median$284,699
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Median rent 52% above the Indiana median$1,616
Housing Market Overview
| Metric | Granger | Indiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $284,699 | $142,738 | $248,835 |
| Price Trend (Annual %) | 21.2% | 7.2% | 7.5% |
| Median Gross Rent | $1,616 | $1,062 | $1,407 |
| Rent Trend (Annual %) | 3.4% | 4.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Granger is about 99% higher than in Indiana. Rent is about 52% higher 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 Granger, up about 21.2% and 3.4% a year respectively. Home prices are changing faster.
Median rent in Granger rose about 40.2% between 2015 and 2024, from $1,152 to $1,616. Over the same span, rent in Indiana rose about 42.6%.
Affordability
On average, housing unit costs 2.4 yearly household incomes in Granger.
Buying the median-priced home in Granger costs roughly 14.7 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 Granger. The price-to-rent ratio in Indiana is about 11.2.
| Metric | Granger | Indiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $284,699 | $142,738 | $248,835 |
| Median Household Income | $119,710 | $71,967 | $80,455 |
| Price-to-Income Ratio | 2.4 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Granger rose about 26.6%, while median household income rose about 26.0% between 2009 and 2025 — keeping pace with each other.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Granger | Indiana Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 86.6% | 64.4% | 58.5% |
| Rental Rate | 10.3% | 26.9% | 31.2% |
| Vacancy Rate | 3.1% | 8.8% | 10.2% |
| Median Tenure (years) | 15.0 | 15.0 | 15.0 |
| Median Year Moved In | 2011 | 2011 | 2011 |
Granger has a homeownership rate of 86.6%, higher than the Indiana average of 64.4%. Its housing vacancy rate is 3.1%, compared with 8.8% in Indiana.
Housing Stock
| Metric | Granger | Indiana Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.81 people | 2.45 people | 2.53 people |
| Median Structure Built Year | 1989 | 1975 | 1978 |
| Median Number of Rooms | 7.8 | 5.9 | 5.5 |
The typical housing unit in Granger was built around 1989. On average, 2.8 people live in a home with about 7.8 rooms, staying for about 15.0 years on average.
Granger, IN Housing Compared With Nearby Cities
How Granger, IN compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Granger, IN | 29,240 | $284,699 #1/2 | $1,616 #1/2 | 89.3% #1/2 |
| Mishawaka, IN | 44,023 | $59,349 | $994 | 56.1% |
Frequently Asked Questions
Common questions about the housing market in Granger, Indiana.
What is the median home price in Granger, Indiana?
The median home price in Granger, Indiana is $284,699, higher than the Indiana average of $142,738.
What is the average home price in Granger, Indiana?
The typical home price in Granger, Indiana, reported as the median sale price, is $284,699. 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 Granger, Indiana?
The median gross rent in Granger, Indiana is $1,616 per month, higher than the Indiana average of $1,062.
What was the median gross rent in Granger in 2020?
In 2020, the median gross rent in Granger, Indiana was $1,051 per month.
What is the price-to-rent ratio in Granger, Indiana?
The price-to-rent ratio in Granger, Indiana is about 14.7, meaning it would take roughly 14.7 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 Granger.
Are home prices or rent rising faster in Granger, Indiana?
Both home prices and rent are rising in Granger, up about 21.2% and 3.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Granger, Indiana?
86.6% of households in Granger, Indiana own their home, higher than the Indiana average of 64.4%.
What is the vacancy rate in Granger, Indiana?
The housing vacancy rate in Granger, Indiana is 3.1%, lower than the Indiana average of 8.8%.
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