The State of Indiana Area Home Supply Charts

This page looks at a variety of Indiana housing market data taken from the most recent 2022 American Community Survey census data. Housing units are structures such as a single family home, apartment community, mobile home park, public housing, etc. where a person or family live and live separately from other residents of the building. Figure 1 shows the total number of housing units for each city. Indiana shows it has a Housing Units of 2,911,562 which is in the mid range of other states in the metro area.

Figure 2 illustrates the housing density in the Indiana housing market as measured by housing units per square land mile (includes single family homes, apartments, etc.) the state of shows it has a Housing Density of 81.3 which is the third most housing densities of all other states in the greater Indiana region. The state with the highest housing density in the group is Ohio which depicts a density of 127.9 (57.3% larger).

In Figure 4, Indiana area change in the number of housing units and is a forward gauge (along with population change) for any potential housing shortage. the state of depicts it has a Housing Unit Change of 4.2% which is the highest of all states in the greater Indiana region.

Figure 5 shows the percentage of rental property based on that they are occupied by renters as a percent of the total number of households in the community (including homes, apartments, etc.) the state of depicts it has a Renter Percent of 30.1% which is in the center range of other states in the local area. Figure 6 illustrates the total number of housing units that are occupied by owners. it has a Owner Percent of 69.9% which is the second most owner percent of all the states in the greater Indiana region.

The State of Indiana Home Cost Charts

Looking at the housing data provided in Figure 7, the average Indiana home price is illustrated for this community and a useful analysis of affordable housing. Indiana shows it has a Median Home Value of $158,500 which is less than most other states in the metropolitan area. The state with the highest median home price in the group is Illinois which depicts a home price of $212,600 (34.1% larger). Figure 8 provides aggregate comparative data for the Indiana metro area in terms of the median housing rental rate, apartment rent, etc. the state of depicts it has a Median Gross Rent of $891 which is in the center range of other states in the local area. The state with the highest rental rates in the group is Illinois which depicts a rental rates of $1,097 (23.1% larger).

Figure 9 provides the frequency distribution of home prices for the area and is useful for understanding affordable housing fund. Indiana has the largest proportion of home price worth less than $50,000 at 19% of the total and is ranked #1. Second, it has the largest proportion of home price worth between $50,000 to $100,000 at 39% of the total and is ranked #1. Third, it has the smallest proportion of home price worth between $100,000 to $200,000 at 19% of the total. Also, it has the smallest proportion of home price worth between $200,000 to $300,000 at 8% of the total. In addition, it has the smallest proportion of home price worth between $300,000 to $400,000 at 4% of the total. Furthermore, it has the smallest proportion of home price worth between $400,000 to $500,000 at 3% of the total.

Median owner costs for the real estate market are shown in Figure 10 and include the costs associated with any mortgage, utility expenses, insurance, and other miscellaneous costs. the state of shows it has a Median Owner Cost of $924 which is less than most other states in the local area. Figure 11 shows the median amount of cost as a percent of total household income for people who own homes in the Indiana metro area. it has a Owner Cost as % of HH Income of 15% which is less than most other states in the local area.

The next chart, Figure 12, provides a comparison chart of the median home cost as a percent of a median worker take home earnings and is thus a valuable measure of affordable housing. the state of shows it has a Median Home Value as Percent of Median Earnings of 324% which is in the mid point range of other states in the metro area.

Figure 14 depicts the median cost of housing for owners with also have a mortgages (versus those who do not have a mortgage because mortgage cost is included.) the state of depicts it has a Median Owner Costs-With Mortgage of $1,206 which is less than most other states in the local area. Figure 15 is a chart that shows the median housing costs for owners who do not have mortgages (and therefore the cost of home ownership does not include mortgage cost.) it has a Median Owner Costs-Without Mortgage of $440 which is less than most other states in the metro area.

Figure 16 shows the distribution in total housing cost for owners of property (so not renters.) This cost includes mortgages, lines of credit interest, utilities, taxes, insurance, etc. Indiana has the largest proportion of owner cost less than $300 at 16% of the total and is ranked #1. Second, it has the largest proportion of owner cost between $500 and $700 at 19% of the total and is ranked #1. Third, it has the largest proportion of owner cost between $700 and $1,000 at 25% of the total and is ranked #1. Also, it has the smallest proportion of owner cost between $1,000 and $1,500 at 11% of the total. In addition, it has the smallest proportion of owner cost between $1,500 and $2,000 at 5% of the total. Furthermore, it has the smallest proportion of owner cost between $2,000 and $2,500 at 2% of the total. Next it has the smallest proportion of owner cost between $2,500 and $3,000 at 1% of the total. Additionally, it has the smallest proportion of owner cost between $3,000 and $3,500 at 0% of the total. And then, it has the smallest proportion of owner cost between $3,500 and $4,000 at 1% of the total.

Next shown in Figure 17 is the housing cost as a percent of household income for people who own their homes and have a mortgages (thus the cost of financing the home is included.) the state of depicts it has a % of Income Owner Costs-With Mortgage of 18% which is less than most other states in the local area. The state with the highest cost as a percent of household income in the group is Illinois which depicts a cost as a percent of household income of 21% (16.1% larger). Housing cost as a percent of household income for owners who do not have a mortgage is shown in Figure 18. This analysis can be useful for understanding the affordable housing for home ownership excluding any financing cost in the area shown. the state of depicts it has a % of Income Owner Costs-No Mortgage of 9% which is less than most other states in the area. The state with the highest cost as a percent of household income in the group is Illinois which shows a cost as a percent of household income of 12% (38.9% larger).

Figure 19 looks at the cost of rent for rental property using the percent of total household income which is a valuable measure of financial health for the area. (The higher the proportion of rent payments to total household income is a sign of greater financial stress. Also, rent can be covered by rent assistance and rent assistance programs in the form of rent assistance.) Indiana has the largest proportion of rent as a percent of income is between 20pct to 30pct at 14% of the total and is ranked #1.

Figure 20 shows the total housing cost for both home owners and apartment community renters in the area. Indiana has the largest proportion of housing cost less than $300 at 13% of the total and is ranked #1. Second, it has the largest proportion of housing cost between $500 and $700 at 24% of the total and is ranked #1. Third, it has the largest proportion of housing cost between $700 and $1,000 at 26% of the total and is ranked #1. Also, it has the smallest proportion of housing cost between $1,000 and $1,500 at 10% of the total. In addition, it has the smallest proportion of housing cost between $1,500 and $2,000 at 4% of the total. Furthermore, it has the smallest proportion of housing cost between $2,000 and $2,500 at 2% of the total. Next it has the smallest proportion of housing cost between $2,500 and $3,000 at 2% of the total.

Figure 21 shows median amount of real estate taxes paid for home owners in the region. it has a Median Real Estate Taxes Paid of $1,308 which is less than most other states in the greater region. The state with the highest median real estate taxes paid in the group is Illinois which depicts a taxes paid of $4,744 (approximately 3.6 times bigger).

Figure 23 shows the rental rate distribution for this area. Indiana has the largest proportion of rent between 500 and 750 dollars at 31% of the total and is ranked #1. Second, it has the smallest proportion of rent between 1000 and 1500 dollars at 7% of the total. Third, it has the smallest proportion of rent between $1,500 and $2,500 at 1% of the total. Also, it has the smallest proportion of rent between $2,500 and $3,500 at 0% of the total.

The State of Indiana Home Financing Charts

The analysis in Figure 25 shows the detailed distribution of owned homes by mortgage status. Indiana has the largest proportion of With mortgage at 57% of the total and is ranked #1. Second, it has the smallest proportion of With HELOC no Primary Mortgage at 35% of the total.

Figure 26 shows the proportion of houses with a mortgage versus those without a mortgage. Indiana has the smallest proportion of houses with mortgages at 35% of the total.

The State of Indiana Home Characteristics Charts

Figure 28 shows the household size for families living in the area and it has a Family size of 3.2 which is the second most family members per housing unit of all the states in the greater Indiana region. The state with the highest family members per housing unit in the group is Illinois which depicts a family members per housing unit of 3.3 (only about 2.9% larger).

Figure 29 show the median number of rooms in a typical home for each location in this area. it has a Median Number of Rooms of 5.9 which is the most of all states in the greater Indiana region. Figure 30 shows, for the average house in each location, the median year that a house was built. This can be useful for understanding the relative age of one neighborhood versus another for a real estate investor. it has a Median Year Built of 1975 which is more than all other states in the greater Indiana region.

Figure 31 looks at the distribution of housing units by the median age that the homes were built. it has the largest proportion of homes built in 2020 or later at 6% of the total and is ranked #1. Second, it has one of the largest proportions of homes built between 2010 to 2019 at 12% of the total and is ranked #2. The only larger state being Wisconsin with 12%. Third, it has the largest proportion of homes built between 2000 to 2009 at 15% of the total and is ranked #1. Also, it has the smallest proportion of homes built between 1980 to 1989 at 14% of the total. In addition, it has in the mid range of other states in the metropolitan area when ranked by homes built between 1940 to 1949 at 16% of the total.

Figure 32 shows the difference in the number of housing units based on whether they are occupied by owners versus occupied by renters. has the percentage of owner housing units in the mid range of other states in the local area at 790,648 of the total.

Figure 33 shows the difference in the number of housing units based on whether they are occupied by owners or renters. has the smallest proportion of one unit detached at 4% of the total. Second, it has the smallest proportion of 10 to 19 units at 2% of the total. Third, it has the smallest proportion of 20 to 49 units at 2% of the total.

Figure 34 shows the median value of homes broken down by the median year that the homes were built. has the smallest proportion of value of homes built 2020 or later at $290,200 of the total. Second, it has the smallest proportion of value of homes built 2010 to 2019 at $220,700 of the total. Third, it has the smallest proportion of value of homes built 2000 to 2009 at $192,900 of the total. Also, it has the smallest proportion of value of homes built 1990 to 1999 at $173,300 of the total. In addition, it has the smallest proportion of value of homes built 1980 to 1989 at $160,600 of the total. Furthermore, it has the smallest proportion of value of homes built 1970 to 1979 at $136,700 of the total. Next it has the smallest proportion of value of homes built 1960 to 1969 at $113,100 of the total. Additionally, it has the smallest proportion of value of homes built 1950 to 1959 at $98,300 of the total. And then, it has the smallest proportion of value of homes built 1940 to 1949 at $107,200 of the total.

The next two charts show both the average household size of homeowners versus the average household size of renters. Starting with Figure 36 we see the household size of homeowners for Indiana residents. it has a Owner-Household Size of 2.6 which is the second most of all the states in the surrounding region. The state with the highest homeowner household size in the group is Illinois which depicts a homeowner household size of 2.7 ( only slightly larger).

Figure 37 shows the household size for renters. the state of depicts it has a Renter-Household Size of 2.2 which is the second most of all the states in the surrounding region. The state with the highest renter household size in the group is Illinois which depicts a renter household sizes of 2.3 ( only slightly larger). Figure 38 shows the year that people who own homes moved into this region. it has the largest proportion of owners moved in 2019 or later at 22% of the total and is ranked #1. Second, it has the smallest proportion of owners moved in 2000 to 2009 at 14% of the total. Third, it has the smallest proportion of owners moved in 1990 to 1999 at 13% of the total. Figure 39 shows the year that people who rent moved into the area. Indiana has the largest proportion of renters moved in 2019 or later at 52% of the total and is ranked #1. Second, it has the smallest proportion of renters moved in 2015 to 2018 at 18% of the total. Third, it has the smallest proportion of renters moved in 2010 to 2014 at 8% of the total. Also, it has the smallest proportion of renters moved in 2000 to 2009 at 2% of the total. In addition, it has the smallest proportion of renters moved in 1990 to 1999 at 1% of the total.

Figure 40 compares the median year that home owners moved into their home. it has a Owner Median Year Moved In of 2007 which is ranked #1 of all states in the greater Indiana region. Figure 41 compares the median year that renters moved into their home. the state of depicts it has a Renter Median Year Moved In of 2017 which is more than all other states in the greater Indiana region.

Figure 42 shows the frequency distribution of various types of energy sources used for homes in the community. it has the largest proportion of home using bottled, tank, or lp gas at 30% of the total and is ranked #1. Second, it has the largest proportion of homes using kerosene or other fuel oils at 0% of the total and is ranked #1. Third, it has the largest proportion of homes using wood at 0% of the total and is ranked #1. Also, it has the smallest proportion of homes using solar energy at 0% of the total.

The next two charts show the number of people living in group quarters and includes temporary as well permanent housing which may be run by the Indiana housing department, department, or other housing authority or public housing agency. beginning with Figure 43 which shows the total number of people. the state of shows it has a Total In Group Quarters of 182,094 which is in the center range of other states in the metropolitan area.

Figure 44 shows the percentage of people who are living in group quarters to the total population for Indiana residents (these may include colleges and jails but also community centers for homelessness or that require a housing choice voucher which are run by certain nonprofits or an affordable housing department.) Indiana has the smallest proportion of number of people under 18 years of age and in group quarters at 97% of the total.