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 | Johnson County | Indiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $500,000 | $140,405 | $242,182 |
| Price Trend (Annual %) | 33.2% | 7.9% | 8.2% |
| Median Gross Rent | $1,207 | $1,020 | $1,342 |
| Rent Trend (Annual %) | 5.0% | 4.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Johnson County is about 256% higher than in Indiana. Rent is about 18% higher 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 Johnson County, up about 33.2% and 5.0% a year respectively. Home prices are changing faster.
Median rent in Johnson County rose about 42.3% between 2015 and 2023, from $848 to $1,207. Over the same span, rent in Indiana rose about 37.0%.
Affordability
On average, housing unit costs 5.7 yearly household incomes in Johnson County.
Buying the median-priced home in Johnson County costs roughly 34.5 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Johnson County. The price-to-rent ratio in Indiana is about 11.5.
| Metric | Johnson County | Indiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $500,000 | $140,405 | $242,182 |
| Median Household Income | $87,795 | $70,132 | $78,145 |
| Price-to-Income Ratio | 5.7 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Johnson County rose about 416.7%, while median household income rose about 46.4% 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 | Johnson County | Indiana Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 70.2% | 63.9% | 58.2% |
| Rental Rate | 24.7% | 26.9% | 31.3% |
| Vacancy Rate | 5.1% | 9.2% | 10.6% |
| Median Tenure (years) | 14.0 | 15.0 | 15.0 |
| Median Year Moved In | 2012 | 2011 | 2011 |
Johnson County has a homeownership rate of 70.2%, higher than the Indiana average of 63.9%. Its housing vacancy rate is 5.1%, compared with 9.2% in Indiana.
Housing Stock
| Metric | Johnson County | Indiana Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.62 people | 2.47 people | 2.54 people |
| Median Structure Built Year | 1987 | 1975 | 1978 |
| Median Number of Rooms | 6.2 | 5.9 | 5.5 |
The typical housing unit in Johnson County was built around 1987. On average, 2.6 people live in a home with about 6.2 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Johnson County, Indiana.
What is the median home price in Johnson County, Indiana?
The median home price in Johnson County, Indiana is $500,000, higher than the Indiana average of $140,405.
What is the average home price in Johnson 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 Johnson County, Indiana?
The median gross rent in Johnson County, Indiana is $1,207 per month, higher than the Indiana average of $1,020.
What was the median gross rent in Johnson County in 2020?
In 2020, the median gross rent in Johnson County, Indiana was $985 per month.
What is the price-to-rent ratio in Johnson County, Indiana?
The price-to-rent ratio in Johnson County, Indiana is about 34.5, meaning it would take roughly 34.5 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Johnson County.
Are home prices or rent rising faster in Johnson County, Indiana?
Both home prices and rent are rising in Johnson County, up about 33.2% and 5.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Johnson County, Indiana?
70.2% of households in Johnson County, Indiana own their home, higher than the Indiana average of 63.9%.
What is the vacancy rate in Johnson County, Indiana?
The housing vacancy rate in Johnson County, Indiana is 5.1%, lower than the Indiana average of 9.2%.