Hobart, Indiana Housing Market Prices
Hobart 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 58% above the Indiana median$226,092
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Median rent 12% above the Indiana median$1,186
Housing Market Overview
| Metric | Hobart | Indiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $226,092 | $142,738 | $248,835 |
| Price Trend (Annual %) | 13.8% | 7.2% | 7.5% |
| Median Gross Rent | $1,186 | $1,062 | $1,407 |
| Rent Trend (Annual %) | 4.4% | 4.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Hobart is about 58% higher than in Indiana. Rent is about 12% 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 Hobart, up about 13.8% and 4.4% a year respectively. Home prices are changing faster.
Median rent in Hobart rose about 39.9% between 2015 and 2024, from $848 to $1,186. Over the same span, rent in Indiana rose about 42.6%.
Affordability
On average, housing unit costs 3.1 yearly household incomes in Hobart.
Buying the median-priced home in Hobart costs roughly 15.9 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 Hobart. The price-to-rent ratio in Indiana is about 11.2.
| Metric | Hobart | Indiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $226,092 | $142,738 | $248,835 |
| Median Household Income | $73,982 | $71,967 | $80,455 |
| Price-to-Income Ratio | 3.1 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Hobart rose about 278.5%, while median household income rose about 29.6% 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 | Hobart | Indiana Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 65.9% | 64.4% | 58.5% |
| Rental Rate | 27.8% | 26.9% | 31.2% |
| Vacancy Rate | 6.4% | 8.8% | 10.2% |
| Median Tenure (years) | 14.0 | 15.0 | 15.0 |
| Median Year Moved In | 2012 | 2011 | 2011 |
Hobart has a homeownership rate of 65.9%, higher than the Indiana average of 64.4%. Its housing vacancy rate is 6.4%, compared with 8.8% in Indiana.
Housing Stock
| Metric | Hobart | Indiana Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.42 people | 2.45 people | 2.53 people |
| Median Structure Built Year | 1971 | 1975 | 1978 |
| Median Number of Rooms | 5.6 | 5.9 | 5.5 |
The typical housing unit in Hobart was built around 1971. On average, 2.4 people live in a home with about 5.6 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Hobart, Indiana.
What is the median home price in Hobart, Indiana?
The median home price in Hobart, Indiana is $226,092, higher than the Indiana average of $142,738.
What is the average home price in Hobart, Indiana?
The typical home price in Hobart, Indiana, reported as the median sale price, is $226,092. 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 Hobart, Indiana?
The median gross rent in Hobart, Indiana is $1,186 per month, higher than the Indiana average of $1,062.
What was the median gross rent in Hobart in 2020?
In 2020, the median gross rent in Hobart, Indiana was $965 per month.
What is the price-to-rent ratio in Hobart, Indiana?
The price-to-rent ratio in Hobart, Indiana is about 15.9, meaning it would take roughly 15.9 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 Hobart.
Are home prices or rent rising faster in Hobart, Indiana?
Both home prices and rent are rising in Hobart, up about 13.8% and 4.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Hobart, Indiana?
65.9% of households in Hobart, Indiana own their home, higher than the Indiana average of 64.4%.
What is the vacancy rate in Hobart, Indiana?
The housing vacancy rate in Hobart, Indiana is 6.4%, lower than the Indiana average of 8.8%.
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