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 | Scott County | Indiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $47,820 | $140,405 | $242,182 |
| Price Trend (Annual %) | 37.9% | 7.9% | 8.2% |
| Median Gross Rent | $789 | $1,020 | $1,342 |
| Rent Trend (Annual %) | 0.8% | 4.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Scott County is about 66% lower than in Indiana. Rent is about 23% 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 Scott County, up about 37.9% and 0.8% a year respectively. Home prices are changing faster.
Median rent in Scott County rose about 7.4% between 2015 and 2023, from $734 to $789. Over the same span, rent in Indiana rose about 37.0%.
Affordability
On average, housing unit costs 0.8 yearly household incomes in Scott County.
Buying the median-priced home in Scott County costs roughly 5.1 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 Scott County. The price-to-rent ratio in Indiana is about 11.5.
| Metric | Scott County | Indiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $47,820 | $140,405 | $242,182 |
| Median Household Income | $56,797 | $70,132 | $78,145 |
| Price-to-Income Ratio | 0.8 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Scott County fell about 38.1%, while median household income rose about 46.8% between 2009 and 2023 — 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 | Scott County | Indiana Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 64.5% | 63.9% | 58.2% |
| Rental Rate | 25.0% | 26.9% | 31.3% |
| Vacancy Rate | 10.6% | 9.2% | 10.6% |
| Median Tenure (years) | 17.0 | 15.0 | 15.0 |
| Median Year Moved In | 2009 | 2011 | 2011 |
Scott County has a homeownership rate of 64.5%, higher than the Indiana average of 63.9%. Its housing vacancy rate is 10.6%, compared with 9.2% in Indiana.
Housing Stock
| Metric | Scott County | Indiana Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.50 people | 2.47 people | 2.54 people |
| Median Structure Built Year | 1984 | 1975 | 1978 |
| Median Number of Rooms | 5.6 | 5.9 | 5.5 |
The typical housing unit in Scott County was built around 1984. On average, 2.5 people live in a home with about 5.6 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Scott County, Indiana.
What is the median home price in Scott County, Indiana?
The median home price in Scott County, Indiana is $47,820, lower than the Indiana average of $140,405.
What is the average home price in Scott 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 Scott County, Indiana?
The median gross rent in Scott County, Indiana is $789 per month, lower than the Indiana average of $1,020.
What was the median gross rent in Scott County in 2020?
In 2020, the median gross rent in Scott County, Indiana was $736 per month.
What is the price-to-rent ratio in Scott County, Indiana?
The price-to-rent ratio in Scott County, Indiana is about 5.1, meaning it would take roughly 5.1 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 Scott County.
Are home prices or rent rising faster in Scott County, Indiana?
Both home prices and rent are rising in Scott County, up about 37.9% and 0.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Scott County, Indiana?
64.5% of households in Scott County, Indiana own their home, higher than the Indiana average of 63.9%.
What is the vacancy rate in Scott County, Indiana?
The housing vacancy rate in Scott County, Indiana is 10.6%, higher than the Indiana average of 9.2%.