Marion County, Indiana Housing Market Prices
Marion County 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 3% above the Indiana median$146,421
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Median rent 9% above the Indiana median More expensive than 92% of counties in Indiana$1,152
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Marion County | Indiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $146,421 | $142,738 | $248,835 |
| Price Trend (Annual %) | 5.6% | 7.2% | 7.5% |
| Median Gross Rent | $1,152 | $1,062 | $1,407 |
| Rent Trend (Annual %) | 4.6% | 4.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Marion County is about 3% higher than in Indiana. Rent is about 9% 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 Marion County, up about 5.6% and 4.6% a year respectively. Home prices are changing faster.
Median rent in Marion County rose about 46.4% between 2015 and 2024, from $787 to $1,152. Over the same span, rent in Indiana rose about 42.6%.
Affordability
On average, housing unit costs 2.2 yearly household incomes in Marion County.
Buying the median-priced home in Marion County costs roughly 10.6 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 Marion County. The price-to-rent ratio in Indiana is about 11.2.
| Metric | Marion County | Indiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $146,421 | $142,738 | $248,835 |
| Median Household Income | $66,629 | $71,967 | $80,455 |
| Price-to-Income Ratio | 2.2 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Marion County rose about 76.7%, while median household income rose about 46.4% 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 | Marion County | Indiana Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 51.3% | 64.4% | 58.5% |
| Rental Rate | 39.5% | 26.9% | 31.2% |
| Vacancy Rate | 9.2% | 8.8% | 10.2% |
| Median Tenure (years) | 13.0 | 15.0 | 15.0 |
| Median Year Moved In | 2013 | 2011 | 2011 |
Marion County has a homeownership rate of 51.3%, lower than the Indiana average of 64.4%. Its housing vacancy rate is 9.2%, compared with 8.8% in Indiana.
Housing Stock
| Metric | Marion County | Indiana Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.39 people | 2.45 people | 2.53 people |
| Median Structure Built Year | 1974 | 1975 | 1978 |
| Median Number of Rooms | 5.5 | 5.9 | 5.5 |
The typical housing unit in Marion County was built around 1974. On average, 2.4 people live in a home with about 5.5 rooms, staying for about 13.0 years on average.
Marion County, IN Housing Compared With Nearby Counties
Marion County, IN is the largest of the 6 counties compared here, 971,946 residents against a local median of 166,315. Marion County, IN's median home price, at $146,421, runs 39% below the $239,673 typical of the counties around it.
Homeownership tells the same story from another angle: 56.5% against a local median of 78.2%, 28% below it. The one measure here that carries a verdict is homeownership, and at 28% below the local median it puts Marion County, IN at the weaker end of the local range. The counties themselves spread $223,357 on median home price, so Marion County, IN sits at one end of an already wide local range rather than apart from it. Marion County, IN has the 6th highest median home price of the 6 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Marion County, IN | 971,946 | $146,421 #6/6 | $1,152 #6/6 | 56.5% #6/6 |
| Johnson County, IN | 166,315 | $161,827 | $1,271 | 72.7% |
| Hamilton County, IN | 365,056 | $339,003 | $1,574 | 76.1% |
| Hancock County, IN | 84,037 | $385,184 | $1,202 | 79.5% |
| Hendricks County, IN | 183,344 | $213,414 | $1,435 | 78.2% |
| Boone County, IN | 74,718 | $239,673 | $1,358 | 78.8% |
Frequently Asked Questions
Common questions about the housing market in Marion County, Indiana.
What is the median home price in Marion County, Indiana?
The median home price in Marion County, Indiana is $146,421, higher than the Indiana average of $142,738.
What is the average home price in Marion County, Indiana?
The typical home price in Marion County, Indiana, reported as the median sale price, is $146,421. 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 Marion County, Indiana?
The median gross rent in Marion County, Indiana is $1,152 per month, higher than the Indiana average of $1,062.
What was the median gross rent in Marion County in 2020?
In 2020, the median gross rent in Marion County, Indiana was $910 per month.
What is the price-to-rent ratio in Marion County, Indiana?
The price-to-rent ratio in Marion County, Indiana is about 10.6, meaning it would take roughly 10.6 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 Marion County.
Are home prices or rent rising faster in Marion County, Indiana?
Both home prices and rent are rising in Marion County, up about 5.6% and 4.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Marion County, Indiana?
51.3% of households in Marion County, Indiana own their home, lower than the Indiana average of 64.4%.
What is the vacancy rate in Marion County, Indiana?
The housing vacancy rate in Marion County, Indiana is 9.2%, higher than the Indiana average of 8.8%.
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