Hendricks County, Indiana Housing Market Prices
Hendricks 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 50% above the Indiana median More expensive than 82% of counties in Indiana$213,414
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Median rent 35% above the Indiana median Among the 3 most expensive counties in Indiana$1,435
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Hendricks County | Indiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $213,414 | $142,738 | $248,835 |
| Price Trend (Annual %) | 10.2% | 7.2% | 7.5% |
| Median Gross Rent | $1,435 | $1,062 | $1,407 |
| Rent Trend (Annual %) | 4.6% | 4.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Hendricks County is about 50% higher than in Indiana. Rent is about 35% 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 Hendricks County, up about 10.2% and 4.6% a year respectively. Home prices are changing faster.
Median rent in Hendricks County rose about 49.8% between 2015 and 2024, from $958 to $1,435. Over the same span, rent in Indiana rose about 42.6%.
Affordability
On average, housing unit costs 2.1 yearly household incomes in Hendricks County.
Buying the median-priced home in Hendricks County costs roughly 12.4 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 Hendricks County. The price-to-rent ratio in Indiana is about 11.2.
| Metric | Hendricks County | Indiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $213,414 | $142,738 | $248,835 |
| Median Household Income | $101,287 | $71,967 | $80,455 |
| Price-to-Income Ratio | 2.1 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Hendricks County rose about 49.5%, while median household income rose about 51.9% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Hendricks County | Indiana Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 75.4% | 64.4% | 58.5% |
| Rental Rate | 21.0% | 26.9% | 31.2% |
| Vacancy Rate | 3.7% | 8.8% | 10.2% |
| Median Tenure (years) | 14.0 | 15.0 | 15.0 |
| Median Year Moved In | 2012 | 2011 | 2011 |
Hendricks County has a homeownership rate of 75.4%, higher than the Indiana average of 64.4%. Its housing vacancy rate is 3.7%, compared with 8.8% in Indiana.
Housing Stock
| Metric | Hendricks County | Indiana Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.66 people | 2.45 people | 2.53 people |
| Median Structure Built Year | 1991 | 1975 | 1978 |
| Median Number of Rooms | 6.4 | 5.9 | 5.5 |
The typical housing unit in Hendricks County was built around 1991. On average, 2.7 people live in a home with about 6.4 rooms, staying for about 14.0 years on average.
Hendricks County, IN Housing Compared With Nearby Counties
Hendricks County, IN is the 2nd largest of the 5 counties compared here, 183,344 residents against a local median of 73,688. The measure that sets Hendricks County, IN apart most is median rent: $1,435, 31% above the local median of $1,097.
The counties themselves spread $475 on median rent, so Hendricks County, IN sits at one end of an already wide local range rather than apart from it. Hendricks County, IN has the highest median rent of the 5 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Hendricks County, IN | 183,344 | $213,414 #2/5 | $1,435 #1/5 | 78.2% #3/5 |
| Boone County, IN | 74,718 | $239,673 | $1,358 | 78.8% |
| Morgan County, IN | 72,659 | $169,852 | $1,042 | 82.1% |
| Putnam County, IN | 37,280 | $204,327 | $883 | 75.4% |
| Marion County, IN | 971,946 | $146,421 | $1,152 | 56.5% |
Frequently Asked Questions
Common questions about the housing market in Hendricks County, Indiana.
What is the median home price in Hendricks County, Indiana?
The median home price in Hendricks County, Indiana is $213,414, higher than the Indiana average of $142,738.
What is the average home price in Hendricks County, Indiana?
The typical home price in Hendricks County, Indiana, reported as the median sale price, is $213,414. 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 Hendricks County, Indiana?
The median gross rent in Hendricks County, Indiana is $1,435 per month, higher than the Indiana average of $1,062.
What was the median gross rent in Hendricks County in 2020?
In 2020, the median gross rent in Hendricks County, Indiana was $1,096 per month.
What is the price-to-rent ratio in Hendricks County, Indiana?
The price-to-rent ratio in Hendricks County, Indiana is about 12.4, meaning it would take roughly 12.4 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 Hendricks County.
Are home prices or rent rising faster in Hendricks County, Indiana?
Both home prices and rent are rising in Hendricks County, up about 10.2% and 4.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Hendricks County, Indiana?
75.4% of households in Hendricks County, Indiana own their home, higher than the Indiana average of 64.4%.
What is the vacancy rate in Hendricks County, Indiana?
The housing vacancy rate in Hendricks County, Indiana is 3.7%, lower than the Indiana average of 8.8%.
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