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 | Jasper County | Indiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $56,666 | $140,405 | $242,182 |
| Price Trend (Annual %) | -5.8% | 7.9% | 8.2% |
| Median Gross Rent | $926 | $1,020 | $1,342 |
| Rent Trend (Annual %) | 3.4% | 4.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Jasper County is about 60% lower than in Indiana. Rent is about 9% lower than the Indiana average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Home prices and rent are moving in opposite directions in Jasper County: home prices fell about 5.8% a year while rent rose about 3.4% a year. That is an unusual pattern worth watching.
Median rent in Jasper County rose about 26.4% between 2015 and 2023, from $733 to $926. Over the same span, rent in Indiana rose about 37.0%.
Affordability
On average, housing unit costs 0.7 yearly household incomes in Jasper County.
Buying the median-priced home in Jasper County costs roughly 5.1 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 Jasper County. The price-to-rent ratio in Indiana is about 11.5.
| Metric | Jasper County | Indiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $56,666 | $140,405 | $242,182 |
| Median Household Income | $78,522 | $70,132 | $78,145 |
| Price-to-Income Ratio | 0.7 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Jasper County fell about 57.2%, while median household income rose about 43.5% between 2009 and 2023 — 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 | Jasper County | Indiana Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 76.4% | 63.9% | 58.2% |
| Rental Rate | 15.4% | 26.9% | 31.3% |
| Vacancy Rate | 8.2% | 9.2% | 10.6% |
| Median Tenure (years) | 17.0 | 15.0 | 15.0 |
| Median Year Moved In | 2009 | 2011 | 2011 |
Jasper County has a homeownership rate of 76.4%, higher than the Indiana average of 63.9%. Its housing vacancy rate is 8.2%, compared with 9.2% in Indiana.
Housing Stock
| Metric | Jasper County | Indiana Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.59 people | 2.47 people | 2.54 people |
| Median Structure Built Year | 1978 | 1975 | 1978 |
| Median Number of Rooms | 6.1 | 5.9 | 5.5 |
The typical housing unit in Jasper County was built around 1978. On average, 2.6 people live in a home with about 6.1 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Jasper County, Indiana.
What is the median home price in Jasper County, Indiana?
The median home price in Jasper County, Indiana is $56,666, lower than the Indiana average of $140,405.
What is the average home price in Jasper 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 Jasper County, Indiana?
The median gross rent in Jasper County, Indiana is $926 per month, lower than the Indiana average of $1,020.
What was the median gross rent in Jasper County in 2020?
In 2020, the median gross rent in Jasper County, Indiana was $785 per month.
What is the price-to-rent ratio in Jasper County, Indiana?
The price-to-rent ratio in Jasper County, Indiana is about 5.1, meaning it would take roughly 5.1 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 Jasper County.
Are home prices or rent rising faster in Jasper County, Indiana?
Home prices and rent are moving in opposite directions in Jasper County: home prices fell about 5.8% a year while rent rose about 3.4% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Jasper County, Indiana?
76.4% of households in Jasper County, Indiana own their home, higher than the Indiana average of 63.9%.
What is the vacancy rate in Jasper County, Indiana?
The housing vacancy rate in Jasper County, Indiana is 8.2%, lower than the Indiana average of 9.2%.