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 | Jefferson County | Indiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $163,781 | $140,405 | $242,182 |
| Price Trend (Annual %) | 17.0% | 7.9% | 8.2% |
| Median Gross Rent | $864 | $1,020 | $1,342 |
| Rent Trend (Annual %) | 3.0% | 4.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Jefferson County is about 17% higher than in Indiana. Rent is about 15% 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 Jefferson County, up about 17.0% and 3.0% a year respectively. Home prices are changing faster.
Median rent in Jefferson County rose about 27.1% between 2015 and 2023, from $680 to $864. Over the same span, rent in Indiana rose about 37.0%.
Affordability
On average, housing unit costs 2.7 yearly household incomes in Jefferson County.
Buying the median-priced home in Jefferson County costs roughly 15.8 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 Jefferson County. The price-to-rent ratio in Indiana is about 11.5.
| Metric | Jefferson County | Indiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $163,781 | $140,405 | $242,182 |
| Median Household Income | $59,986 | $70,132 | $78,145 |
| Price-to-Income Ratio | 2.7 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Jefferson County rose about 95.3%, while median household income rose about 47.6% 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 | Jefferson County | Indiana Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 61.0% | 63.9% | 58.2% |
| Rental Rate | 26.9% | 26.9% | 31.3% |
| Vacancy Rate | 12.1% | 9.2% | 10.6% |
| Median Tenure (years) | 16.0 | 15.0 | 15.0 |
| Median Year Moved In | 2010 | 2011 | 2011 |
Jefferson County has a homeownership rate of 61.0%, lower than the Indiana average of 63.9%. Its housing vacancy rate is 12.1%, compared with 9.2% in Indiana.
Housing Stock
| Metric | Jefferson County | Indiana Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.45 people | 2.47 people | 2.54 people |
| Median Structure Built Year | 1975 | 1975 | 1978 |
| Median Number of Rooms | 5.8 | 5.9 | 5.5 |
The typical housing unit in Jefferson County was built around 1975. On average, 2.5 people live in a home with about 5.8 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Jefferson County, Indiana.
What is the median home price in Jefferson County, Indiana?
The median home price in Jefferson County, Indiana is $163,781, higher than the Indiana average of $140,405.
What is the average home price in Jefferson 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 Jefferson County, Indiana?
The median gross rent in Jefferson County, Indiana is $864 per month, lower than the Indiana average of $1,020.
What was the median gross rent in Jefferson County in 2020?
In 2020, the median gross rent in Jefferson County, Indiana was $716 per month.
What is the price-to-rent ratio in Jefferson County, Indiana?
The price-to-rent ratio in Jefferson County, Indiana is about 15.8, meaning it would take roughly 15.8 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 Jefferson County.
Are home prices or rent rising faster in Jefferson County, Indiana?
Both home prices and rent are rising in Jefferson County, up about 17.0% and 3.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Jefferson County, Indiana?
61.0% of households in Jefferson County, Indiana own their home, lower than the Indiana average of 63.9%.
What is the vacancy rate in Jefferson County, Indiana?
The housing vacancy rate in Jefferson County, Indiana is 12.1%, higher than the Indiana average of 9.2%.