Portage, Indiana Housing Market Prices
Portage 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 86% above the Indiana median$264,921
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Median rent 19% above the Indiana median$1,258
Housing Market Overview
| Metric | Portage | Indiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $264,921 | $142,738 | $248,835 |
| Price Trend (Annual %) | 18.4% | 7.2% | 7.5% |
| Median Gross Rent | $1,258 | $1,062 | $1,407 |
| Rent Trend (Annual %) | 4.4% | 4.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Portage is about 86% higher than in Indiana. Rent is about 19% 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 Portage, up about 18.4% and 4.4% a year respectively. Home prices are changing faster.
Median rent in Portage rose about 47.6% between 2015 and 2024, from $853 to $1,258. Over the same span, rent in Indiana rose about 42.6%.
Affordability
On average, housing unit costs 3.4 yearly household incomes in Portage.
Buying the median-priced home in Portage costs roughly 17.5 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 Portage. The price-to-rent ratio in Indiana is about 11.2.
| Metric | Portage | Indiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $264,921 | $142,738 | $248,835 |
| Median Household Income | $78,449 | $71,967 | $80,455 |
| Price-to-Income Ratio | 3.4 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Portage rose about 254.1%, while median household income rose about 37.8% 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 | Portage | Indiana Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 68.8% | 64.4% | 58.5% |
| Rental Rate | 25.8% | 26.9% | 31.2% |
| Vacancy Rate | 5.4% | 8.8% | 10.2% |
| Median Tenure (years) | 15.0 | 15.0 | 15.0 |
| Median Year Moved In | 2011 | 2011 | 2011 |
Portage has a homeownership rate of 68.8%, higher than the Indiana average of 64.4%. Its housing vacancy rate is 5.4%, compared with 8.8% in Indiana.
Housing Stock
| Metric | Portage | Indiana Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.56 people | 2.45 people | 2.53 people |
| Median Structure Built Year | 1982 | 1975 | 1978 |
| Median Number of Rooms | 5.8 | 5.9 | 5.5 |
The typical housing unit in Portage was built around 1982. On average, 2.6 people live in a home with about 5.8 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Portage, Indiana.
What is the median home price in Portage, Indiana?
The median home price in Portage, Indiana is $264,921, higher than the Indiana average of $142,738.
What is the average home price in Portage, Indiana?
The typical home price in Portage, Indiana, reported as the median sale price, is $264,921. 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 Portage, Indiana?
The median gross rent in Portage, Indiana is $1,258 per month, higher than the Indiana average of $1,062.
What was the median gross rent in Portage in 2020?
In 2020, the median gross rent in Portage, Indiana was $933 per month.
What is the price-to-rent ratio in Portage, Indiana?
The price-to-rent ratio in Portage, Indiana is about 17.5, meaning it would take roughly 17.5 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 Portage.
Are home prices or rent rising faster in Portage, Indiana?
Both home prices and rent are rising in Portage, up about 18.4% and 4.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Portage, Indiana?
68.8% of households in Portage, Indiana own their home, higher than the Indiana average of 64.4%.
What is the vacancy rate in Portage, Indiana?
The housing vacancy rate in Portage, Indiana is 5.4%, lower than the Indiana average of 8.8%.
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