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 | LaPorte County | Indiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $157,720 | $140,405 | $242,182 |
| Price Trend (Annual %) | 11.7% | 7.9% | 8.2% |
| Median Gross Rent | $926 | $1,020 | $1,342 |
| Rent Trend (Annual %) | 3.9% | 4.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in LaPorte County is about 12% higher 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
Both home prices and rent are rising in LaPorte County, up about 11.7% and 3.9% a year respectively. Home prices are changing faster.
Median rent in LaPorte County rose about 31.9% between 2015 and 2023, from $702 to $926. Over the same span, rent in Indiana rose about 37.0%.
Affordability
On average, housing unit costs 2.3 yearly household incomes in LaPorte County.
Buying the median-priced home in LaPorte County costs roughly 14.2 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 LaPorte County. The price-to-rent ratio in Indiana is about 11.5.
| Metric | LaPorte County | Indiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $157,720 | $140,405 | $242,182 |
| Median Household Income | $69,924 | $70,132 | $78,145 |
| Price-to-Income Ratio | 2.3 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in LaPorte County rose about 86.6%, while median household income rose about 48.8% 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 | LaPorte County | Indiana Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 65.3% | 63.9% | 58.2% |
| Rental Rate | 22.3% | 26.9% | 31.3% |
| Vacancy Rate | 12.4% | 9.2% | 10.6% |
| Median Tenure (years) | 17.0 | 15.0 | 15.0 |
| Median Year Moved In | 2009 | 2011 | 2011 |
LaPorte County has a homeownership rate of 65.3%, higher than the Indiana average of 63.9%. Its housing vacancy rate is 12.4%, compared with 9.2% in Indiana.
Housing Stock
| Metric | LaPorte County | Indiana Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.41 people | 2.47 people | 2.54 people |
| Median Structure Built Year | 1972 | 1975 | 1978 |
| Median Number of Rooms | 5.7 | 5.9 | 5.5 |
The typical housing unit in LaPorte County was built around 1972. On average, 2.4 people live in a home with about 5.7 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in LaPorte County, Indiana.
What is the median home price in LaPorte County, Indiana?
The median home price in LaPorte County, Indiana is $157,720, higher than the Indiana average of $140,405.
What is the average home price in LaPorte 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 LaPorte County, Indiana?
The median gross rent in LaPorte County, Indiana is $926 per month, lower than the Indiana average of $1,020.
What was the median gross rent in LaPorte County in 2020?
In 2020, the median gross rent in LaPorte County, Indiana was $762 per month.
What is the price-to-rent ratio in LaPorte County, Indiana?
The price-to-rent ratio in LaPorte County, Indiana is about 14.2, meaning it would take roughly 14.2 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 LaPorte County.
Are home prices or rent rising faster in LaPorte County, Indiana?
Both home prices and rent are rising in LaPorte County, up about 11.7% and 3.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in LaPorte County, Indiana?
65.3% of households in LaPorte County, Indiana own their home, higher than the Indiana average of 63.9%.
What is the vacancy rate in LaPorte County, Indiana?
The housing vacancy rate in LaPorte County, Indiana is 12.4%, higher than the Indiana average of 9.2%.