Indiana
Ranked #10 of 51 for housing affordability
Median Home Price
🏠$226K
3.25x income
Median Rent
🔑$1,044
28.0% rent-burdened
Median Income
💰$69K
Population: 6,833,037
Homeownership
🏡70.0%
5,596 experiencing homelessness
Housing Shortage
📉55,000
units needed
Building Permits (2024)
🔨26,633
Price-to-Income
📊3.25x
Severe Rent Burden
⚠️12.8%
paying >50% of income
Rent Burden Breakdown
vs. National Average
House Price Index (2000–2025)
FHFA All-Transactions HPI · Base = 100 (1980s)
HUD Fair Market Rents (FY2026)
Maximum rent HUD considers fair for Section 8 voucher holders
FMR ($1234) is above the state median rent ($1044) — vouchers cover typical rents.
Metros in Indiana
| Metro | Score | Home Price | Rent | Income | Rent Burden |
|---|---|---|---|---|---|
| Indianapolis | 62 | $278K | $1,207 | $78K | 30.0% |
| Fort Wayne | 75 | $223K | $941 | $66K | 27.0% |
| South Bend-Mishawaka | 89 | $202K | $1,058 | $66K | 24.7% |
| Evansville | 88 | $211K | $947 | $65K | 23.0% |
| Elkhart-Goshen | 88 | $214K | $1,079 | $67K | 27.9% |
| Terre Haute | 93 | $140K | $879 | $51K | 23.2% |
| Michigan City-La Porte | 89 | $196K | $994 | $63K | 19.7% |
| Muncie | 95 | $140K | $878 | $55K | 28.8% |
| Kokomo | 92 | $169K | $949 | $61K | 19.5% |
Market Trends
Homeownership Rate
70.0%
Rent-to-Income Ratio
18.0%
of gross income spent on rent
Total Households
2,754,881
Owner-Occupied
1,940,443
Renter-Occupied
814,438
Homelessness
Latest Count (2024)
6,285
1-Year Change
+4.5%
10-Year Trend (2015–2024)
+7.2%
5,863 → 6,285
Housing Policies
Construction Activity
Total Permits (2024)
26,633
1.9% of national total
Single-Family
20,082
75% of state permits
Multi-Family
6,551
25% of state permits
Mortgage Access
National HMDA data — mortgage denial rates by race/ethnicity
Denial Rates by Race
Top Denial Reasons
Housing Shortage
State Shortage
55,000
units needed
National Shortage
7,300,000
0.8% of national total
Affordable Units per 100 ELI Renters
35
nationally (NLIHC)
National Shortage by Unit Type
45%
Single-Family
18%
Small Multi (2-4)
22%
Medium Multi (5-49)
15%
Large Multi (50+)
Rent Burden Detail
Indiana burden rates with national demographic breakdown
Cost-Burdened Renters
28.0%
paying >30% of income
Severely Burdened
12.8%
paying >50% of income
Households >30% Burden
190,099
Households >35% Burden
58,402