Schererville, Indiana Housing Market Prices
Schererville 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.
-
Median home price 60% above the Indiana median$228,261
-
Median rent 23% above the Indiana median$1,303
Housing Market Overview
| Metric | Schererville | Indiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $228,261 | $142,738 | $248,835 |
| Price Trend (Annual %) | 43.5% | 7.2% | 7.5% |
| Median Gross Rent | $1,303 | $1,062 | $1,407 |
| Rent Trend (Annual %) | 4.7% | 4.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Schererville is about 60% higher than in Indiana. Rent is about 23% higher than the Indiana average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Schererville, up about 43.5% and 4.7% a year respectively. Home prices are changing faster.
Median rent in Schererville rose about 48.0% between 2015 and 2024, from $880 to $1,303. Over the same span, rent in Indiana rose about 42.6%.
Affordability
On average, housing unit costs 2.6 yearly household incomes in Schererville.
Buying the median-priced home in Schererville costs roughly 14.6 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 Schererville. The price-to-rent ratio in Indiana is about 11.2.
| Metric | Schererville | Indiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $228,261 | $142,738 | $248,835 |
| Median Household Income | $89,267 | $71,967 | $80,455 |
| 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 Schererville rose about 69.8%, while median household income rose about 31.6% 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 | Schererville | Indiana Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 76.5% | 64.4% | 58.5% |
| Rental Rate | 20.4% | 26.9% | 31.2% |
| Vacancy Rate | 3.1% | 8.8% | 10.2% |
| Median Tenure (years) | 15.0 | 15.0 | 15.0 |
| Median Year Moved In | 2011 | 2011 | 2011 |
Schererville has a homeownership rate of 76.5%, higher than the Indiana average of 64.4%. Its housing vacancy rate is 3.1%, compared with 8.8% in Indiana.
Housing Stock
| Metric | Schererville | Indiana Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.36 people | 2.45 people | 2.53 people |
| Median Structure Built Year | 1989 | 1975 | 1978 |
| Median Number of Rooms | 6.0 | 5.9 | 5.5 |
The typical housing unit in Schererville was built around 1989. On average, 2.4 people live in a home with about 6.0 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Schererville, Indiana.
What is the median home price in Schererville, Indiana?
The median home price in Schererville, Indiana is $228,261, higher than the Indiana average of $142,738.
What is the average home price in Schererville, Indiana?
The typical home price in Schererville, Indiana, reported as the median sale price, is $228,261. 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 Schererville, Indiana?
The median gross rent in Schererville, Indiana is $1,303 per month, higher than the Indiana average of $1,062.
What was the median gross rent in Schererville in 2020?
In 2020, the median gross rent in Schererville, Indiana was $988 per month.
What is the price-to-rent ratio in Schererville, Indiana?
The price-to-rent ratio in Schererville, Indiana is about 14.6, meaning it would take roughly 14.6 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 Schererville.
Are home prices or rent rising faster in Schererville, Indiana?
Both home prices and rent are rising in Schererville, up about 43.5% and 4.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Schererville, Indiana?
76.5% of households in Schererville, Indiana own their home, higher than the Indiana average of 64.4%.
What is the vacancy rate in Schererville, Indiana?
The housing vacancy rate in Schererville, Indiana is 3.1%, lower than the Indiana average of 8.8%.
Analyze any area in the US
Get local demographics for any address, aggregated by drive time or radius, on the interactive map.
Explore the map →