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 | Newton County | Indiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $179,877 | $140,405 | $242,182 |
| Price Trend (Annual %) | 31.9% | 7.9% | 8.2% |
| Median Gross Rent | $927 | $1,020 | $1,342 |
| Rent Trend (Annual %) | 4.5% | 4.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Newton County is about 28% 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 Newton County, up about 31.9% and 4.5% a year respectively. Home prices are changing faster.
Median rent in Newton County rose about 32.8% between 2015 and 2023, from $698 to $927. Over the same span, rent in Indiana rose about 37.0%.
Affordability
On average, housing unit costs 2.6 yearly household incomes in Newton County.
Buying the median-priced home in Newton County costs roughly 16.2 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 Newton County. The price-to-rent ratio in Indiana is about 11.5.
| Metric | Newton County | Indiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $179,877 | $140,405 | $242,182 |
| Median Household Income | $68,775 | $70,132 | $78,145 |
| Price-to-Income Ratio | 2.6 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Newton County rose about 155.4%, while median household income rose about 33.1% 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 | Newton County | Indiana Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 74.0% | 63.9% | 58.2% |
| Rental Rate | 18.2% | 26.9% | 31.3% |
| Vacancy Rate | 7.7% | 9.2% | 10.6% |
| Median Tenure (years) | 18.0 | 15.0 | 15.0 |
| Median Year Moved In | 2008 | 2011 | 2011 |
Newton County has a homeownership rate of 74.0%, higher than the Indiana average of 63.9%. Its housing vacancy rate is 7.7%, compared with 9.2% in Indiana.
Housing Stock
| Metric | Newton County | Indiana Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.45 people | 2.47 people | 2.54 people |
| Median Structure Built Year | 1970 | 1975 | 1978 |
| Median Number of Rooms | 6.1 | 5.9 | 5.5 |
The typical housing unit in Newton County was built around 1970. On average, 2.4 people live in a home with about 6.1 rooms, staying for about 18.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Newton County, Indiana.
What is the median home price in Newton County, Indiana?
The median home price in Newton County, Indiana is $179,877, higher than the Indiana average of $140,405.
What is the average home price in Newton 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 Newton County, Indiana?
The median gross rent in Newton County, Indiana is $927 per month, lower than the Indiana average of $1,020.
What was the median gross rent in Newton County in 2020?
In 2020, the median gross rent in Newton County, Indiana was $710 per month.
What is the price-to-rent ratio in Newton County, Indiana?
The price-to-rent ratio in Newton County, Indiana is about 16.2, meaning it would take roughly 16.2 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 Newton County.
Are home prices or rent rising faster in Newton County, Indiana?
Both home prices and rent are rising in Newton County, up about 31.9% and 4.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Newton County, Indiana?
74.0% of households in Newton County, Indiana own their home, higher than the Indiana average of 63.9%.
What is the vacancy rate in Newton County, Indiana?
The housing vacancy rate in Newton County, Indiana is 7.7%, lower than the Indiana average of 9.2%.