Parke County, Indiana Housing Market Prices
Parke 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 62% below the Indiana median Cheaper than 87% of counties in Indiana$54,111
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Median rent 34% below the Indiana median Among the top 5 cheapest counties in Indiana$704
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Parke County | Indiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $54,111 | $142,738 | $248,835 |
| Price Trend (Annual %) | -8.6% | 7.2% | 7.5% |
| Median Gross Rent | $704 | $1,062 | $1,407 |
| Rent Trend (Annual %) | 3.4% | 4.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Parke County is about 62% lower than in Indiana. Rent is about 34% lower than the Indiana average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Home prices and rent are moving in opposite directions in Parke County: home prices fell about 8.6% a year while rent rose about 3.4% a year. That is an unusual pattern worth watching.
Median rent in Parke County rose about 21.9% between 2015 and 2024, from $578 to $704. Over the same span, rent in Indiana rose about 42.6%.
Affordability
On average, housing unit costs 0.8 yearly household incomes in Parke County.
Buying the median-priced home in Parke County costs roughly 6.4 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 Parke County. The price-to-rent ratio in Indiana is about 11.2.
| Metric | Parke County | Indiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $54,111 | $142,738 | $248,835 |
| Median Household Income | $67,694 | $71,967 | $80,455 |
| Price-to-Income Ratio | 0.8 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Parke County fell about 32.9%, while median household income rose about 67.8% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Parke County | Indiana Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 66.2% | 64.4% | 58.5% |
| Rental Rate | 14.1% | 26.9% | 31.2% |
| Vacancy Rate | 19.7% | 8.8% | 10.2% |
| Median Tenure (years) | 18.0 | 15.0 | 15.0 |
| Median Year Moved In | 2008 | 2011 | 2011 |
Parke County has a homeownership rate of 66.2%, higher than the Indiana average of 64.4%. Its housing vacancy rate is 19.7%, compared with 8.8% in Indiana.
Housing Stock
| Metric | Parke County | Indiana Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.51 people | 2.45 people | 2.53 people |
| Median Structure Built Year | 1965 | 1975 | 1978 |
| Median Number of Rooms | 5.9 | 5.9 | 5.5 |
The typical housing unit in Parke County was built around 1965. On average, 2.5 people live in a home with about 5.9 rooms, staying for about 18.0 years on average.
Parke County, IN Housing Compared With Nearby Counties
Parke County, IN is the 3rd largest of the 4 counties compared here, 16,406 residents against a local median of 37,280. Parke County, IN's median home price, at $54,111, runs 43% below the $94,390 typical of the counties around it.
Median rent tells the same story from another angle: $704 against a local median of $883, 20% below it. The counties themselves spread $139,707 on median home price, so Parke County, IN sits at one end of an already wide local range rather than apart from it. Parke County, IN has the 4th highest median home price of the 4 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Parke County, IN | 16,406 | $54,111 #4/4 | $704 #4/4 | 82.4% #1/4 |
| Vermillion County, IN | 15,421 | $94,390 | $749 | 75.3% |
| Putnam County, IN | 37,280 | $204,327 | $883 | 75.4% |
| Vigo County, IN | 106,109 | $64,620 | $924 | 61.7% |
Frequently Asked Questions
Common questions about the housing market in Parke County, Indiana.
What is the median home price in Parke County, Indiana?
The median home price in Parke County, Indiana is $54,111, lower than the Indiana average of $142,738.
What is the average home price in Parke County, Indiana?
The typical home price in Parke County, Indiana, reported as the median sale price, is $54,111. 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 Parke County, Indiana?
The median gross rent in Parke County, Indiana is $704 per month, lower than the Indiana average of $1,062.
What was the median gross rent in Parke County in 2020?
In 2020, the median gross rent in Parke County, Indiana was $759 per month.
What is the price-to-rent ratio in Parke County, Indiana?
The price-to-rent ratio in Parke County, Indiana is about 6.4, meaning it would take roughly 6.4 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 Parke County.
Are home prices or rent rising faster in Parke County, Indiana?
Home prices and rent are moving in opposite directions in Parke County: home prices fell about 8.6% a year while rent rose about 3.4% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Parke County, Indiana?
66.2% of households in Parke County, Indiana own their home, higher than the Indiana average of 64.4%.
What is the vacancy rate in Parke County, Indiana?
The housing vacancy rate in Parke County, Indiana is 19.7%, higher than the Indiana average of 8.8%.
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