Putnam County, Indiana Housing Market Prices
Putnam 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 43% above the Indiana median More expensive than 79% of counties in Indiana$204,327
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Median rent 17% below the Indiana median$883
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Putnam County | Indiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $204,327 | $142,738 | $248,835 |
| Price Trend (Annual %) | 17.8% | 7.2% | 7.5% |
| Median Gross Rent | $883 | $1,062 | $1,407 |
| Rent Trend (Annual %) | 2.7% | 4.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Putnam County is about 43% higher than in Indiana. Rent is about 17% lower 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 Putnam County, up about 17.8% and 2.7% a year respectively. Home prices are changing faster.
Median rent in Putnam County rose about 27.5% between 2015 and 2024, from $693 to $883. Over the same span, rent in Indiana rose about 42.6%.
Affordability
On average, housing unit costs 2.6 yearly household incomes in Putnam County.
Buying the median-priced home in Putnam County costs roughly 19.3 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 Putnam County. The price-to-rent ratio in Indiana is about 11.2.
| Metric | Putnam County | Indiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $204,327 | $142,738 | $248,835 |
| Median Household Income | $77,280 | $71,967 | $80,455 |
| Price-to-Income Ratio | 2.6 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Putnam County rose about 245.0%, while median household income rose about 43.6% 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 | Putnam County | Indiana Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 69.8% | 64.4% | 58.5% |
| Rental Rate | 22.8% | 26.9% | 31.2% |
| Vacancy Rate | 7.4% | 8.8% | 10.2% |
| Median Tenure (years) | 15.0 | 15.0 | 15.0 |
| Median Year Moved In | 2011 | 2011 | 2011 |
Putnam County has a homeownership rate of 69.8%, higher than the Indiana average of 64.4%. Its housing vacancy rate is 7.4%, compared with 8.8% in Indiana.
Housing Stock
| Metric | Putnam County | Indiana Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.32 people | 2.45 people | 2.53 people |
| Median Structure Built Year | 1979 | 1975 | 1978 |
| Median Number of Rooms | 5.8 | 5.9 | 5.5 |
The typical housing unit in Putnam County was built around 1979. On average, 2.3 people live in a home with about 5.8 rooms, staying for about 15.0 years on average.
Putnam County, IN Housing Compared With Nearby Counties
Putnam County, IN is the 2nd largest of the 4 counties compared here, 37,280 residents against a local median of 21,604. There is no headline here. Every measure below sits within 15% of the median across the nearest counties, which makes Putnam County, IN an unremarkable member of its own neighbourhood rather than an outlier in it.
The largest of those small differences is homeownership, 7% below the local median at 75.4% against 81.4%. Putnam County, IN has the 4th highest homeownership of the 4 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Putnam County, IN | 37,280 | $204,327 #3/4 | $883 #3/4 | 75.4% #4/4 |
| Hendricks County, IN | 183,344 | $213,414 | $1,435 | 78.2% |
| Owen County, IN | 21,604 | $305,556 | $911 | 81.4% |
| Parke County, IN | 16,406 | $54,111 | $704 | 82.4% |
Frequently Asked Questions
Common questions about the housing market in Putnam County, Indiana.
What is the median home price in Putnam County, Indiana?
The median home price in Putnam County, Indiana is $204,327, higher than the Indiana average of $142,738.
What is the average home price in Putnam County, Indiana?
The typical home price in Putnam County, Indiana, reported as the median sale price, is $204,327. 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 Putnam County, Indiana?
The median gross rent in Putnam County, Indiana is $883 per month, lower than the Indiana average of $1,062.
What was the median gross rent in Putnam County in 2020?
In 2020, the median gross rent in Putnam County, Indiana was $783 per month.
What is the price-to-rent ratio in Putnam County, Indiana?
The price-to-rent ratio in Putnam County, Indiana is about 19.3, meaning it would take roughly 19.3 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 Putnam County.
Are home prices or rent rising faster in Putnam County, Indiana?
Both home prices and rent are rising in Putnam County, up about 17.8% and 2.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Putnam County, Indiana?
69.8% of households in Putnam County, Indiana own their home, higher than the Indiana average of 64.4%.
What is the vacancy rate in Putnam County, Indiana?
The housing vacancy rate in Putnam County, Indiana is 7.4%, lower than the Indiana average of 8.8%.
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