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 | Pulaski County | Indiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $115,789 | $140,405 | $242,182 |
| Price Trend (Annual %) | 19.6% | 7.9% | 8.2% |
| Median Gross Rent | $715 | $1,020 | $1,342 |
| Rent Trend (Annual %) | 1.3% | 4.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Pulaski County is about 18% lower than in Indiana. Rent is about 30% 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 Pulaski County, up about 19.6% and 1.3% a year respectively. Home prices are changing faster.
Median rent in Pulaski County rose about 5.1% between 2015 and 2023, from $681 to $715. Over the same span, rent in Indiana rose about 37.0%.
Affordability
On average, housing unit costs 1.9 yearly household incomes in Pulaski County.
Buying the median-priced home in Pulaski County costs roughly 13.5 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 Pulaski County. The price-to-rent ratio in Indiana is about 11.5.
| Metric | Pulaski County | Indiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $115,789 | $140,405 | $242,182 |
| Median Household Income | $59,893 | $70,132 | $78,145 |
| Price-to-Income Ratio | 1.9 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Pulaski County rose about 116.8%, while median household income rose about 30.2% 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 | Pulaski County | Indiana Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 63.0% | 63.9% | 58.2% |
| Rental Rate | 20.9% | 26.9% | 31.3% |
| Vacancy Rate | 16.1% | 9.2% | 10.6% |
| Median Tenure (years) | 19.0 | 15.0 | 15.0 |
| Median Year Moved In | 2007 | 2011 | 2011 |
Pulaski County has a homeownership rate of 63.0%, lower than the Indiana average of 63.9%. Its housing vacancy rate is 16.1%, compared with 9.2% in Indiana.
Housing Stock
| Metric | Pulaski County | Indiana Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.50 people | 2.47 people | 2.54 people |
| Median Structure Built Year | 1968 | 1975 | 1978 |
| Median Number of Rooms | 5.9 | 5.9 | 5.5 |
The typical housing unit in Pulaski County was built around 1968. On average, 2.5 people live in a home with about 5.9 rooms, staying for about 19.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Pulaski County, Indiana.
What is the median home price in Pulaski County, Indiana?
The median home price in Pulaski County, Indiana is $115,789, lower than the Indiana average of $140,405.
What is the average home price in Pulaski 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 Pulaski County, Indiana?
The median gross rent in Pulaski County, Indiana is $715 per month, lower than the Indiana average of $1,020.
What was the median gross rent in Pulaski County in 2020?
In 2020, the median gross rent in Pulaski County, Indiana was $632 per month.
What is the price-to-rent ratio in Pulaski County, Indiana?
The price-to-rent ratio in Pulaski County, Indiana is about 13.5, meaning it would take roughly 13.5 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 Pulaski County.
Are home prices or rent rising faster in Pulaski County, Indiana?
Both home prices and rent are rising in Pulaski County, up about 19.6% and 1.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Pulaski County, Indiana?
63.0% of households in Pulaski County, Indiana own their home, lower than the Indiana average of 63.9%.
What is the vacancy rate in Pulaski County, Indiana?
The housing vacancy rate in Pulaski County, Indiana is 16.1%, higher than the Indiana average of 9.2%.