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Westfield, IN—46074

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$490,000
2.7% YoY Growth
Household Income
$124,000
25.3% YoY Growth
Days on Market
67
5.0% Longer YoY
Home Price Forecast
2.4%
Median Rent
$2,410
3.1% YoY Growth
1-Bed Rent
$1,320
2.4% YoY Growth
2-Bed Rent
$1,120
29.6% YoY Growth
3-Bed Rent
$2,200
1.7% YoY Growth
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Westfield, IN

As of Dec '25, the median home price in Westfield, IN is $490,000, with a year-over-year change of 2.7%. This indicates that home prices in Westfield, IN are increasing. According to Zillow, the 1-year price projection is 2.4%, suggesting an increase housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$490,0002.7%
Single Family $505,0003.1%
Condos $315,0002.3%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		$355,0002.9%
    3 Bed
    		$429,0002.6%
    4 Bed
    		$529,0002.9%
    5 Bed $680,2943.6%
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    % of Housing Stock

    Studio
    0.7%
    1 Bedroom
    3.6%
    2 Bedrooms
    15.5%
    3 Bedrooms
    33.5%
    4 Bedrooms
    31.7%
    5+ Bedrooms
    14.9%

    Rental Trends — Westfield, IN

    As of July '25, Rentcast reports the average rent in Westfield, IN is $2,460, with a year-over-year rent change of -3.1%. Per bedroom, the median rent as of July '25 in Westfield, IN is studios: $1,100, 1-bedrooms: $1,270, 2-bedrooms: $1,450, 3-bedrooms: $2,300, 4-bedrooms: $2,890. The most common rental property sizes in Westfield, IN are 2-bedroom and 3-bedroom, accounting for 40.1% and 20.9% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$2,410$2,460
    Studio Rent $950$1,100
    1 Bed Rent $1,320$1,270
    2 Bed Rent $1,120$1,450
    3 Bed Rent $2,200$2,300
    4 Bed Rent $2,800$2,890
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    % of Rental Stock

    Studio
    2.6%
    1 Bedroom
    18.4%
    2 Bedrooms
    40.1%
    3 Bedrooms
    20.9%
    4 Bedrooms
    13.3%
    5+ Bedrooms
    4.7%

    Property Listings — Westfield, IN

    As of Dec '25, Realtor.com reports that the median days on market for a home in Westfield, IN is 51. This is a increase of 1.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 24.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$503,000-6.0%
    Listing Count
    		2355.0%
    Listings as % of Homes1.5%5.0%
    Days on Market
    		675.0%
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    Demographics — Westfield, IN

    As of the latest ACS Survey released in 2023, Westfield, IN has a population of 46,000, which has increased by 39.0% over the past 5 years. Westfield, IN is a popular place for families, as children make up 27.2% of the population. The area has a highly educated workforce, with 61.4% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 21.9% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		46,00039.0%
    % Under 18
    		27.2%-15.3%
    % Seniors
    		11.5%17.3%
    % WFH
    		21.9%160.7%
    % w/ College Degree
    		61.4%2.5%
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    As of the latest ACS Survey released in 2023, Westfield, IN is a predominantly white area, with 73.6% of the population identifying as white. The white population has shrunk by 5.5% in the last 5 years. The second most common race or ethnicity in Westfield, IN is hispanic, making up 8.6% of the population. Foreign-born residents account for 12.3% of the population in Westfield, IN, and this percentage has increased by 9.8% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		73.6%-5.5%
    % Black
    		2.7%-43.8%
    % Hispanic
    		8.6%53.6%
    % Asian
    		8.5%-13.3%
    % Foreign Born
    		12.3%9.8%
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    Mortgage and Risk — Westfield, IN

    According to HUD data as of 2023, there were 2012 mortgage originations in Westfield, IN, of which 90.0% of loans were conventional mortgages. The average loan-to-value was 66.0%, with 23.0% above 90% LTV (very high). This implies large mortgage risk in Westfield, IN. Investor activity is low, as 4.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		2,012
    % Conventional Loans
    		90.0%
    % Government Loans
    		10.0%
    % Investor Loans
    		4.0%
    % Second Loans
    		1.0%
    % Cash Out Refinance
    		7.0%
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    Rentals and Section 8 — Westfield, IN

    As of 2024, the percent of homes in Westfield, IN under the Section 8 program is 2.3%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom units appear to be good home sizes to consider for Section 8 housing in Westfield, IN, because HUD payments exceed market rent, while 3-bedroom and 4-bedroom units do not.

    Section 8 Market Size

    Total Units under HUD
    		66
    Total Units Section 8
    		66
    % Rentals under Section 8
    		2.3%
    % Occupied Section 8
    		91.0%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom$30$1,320$1,350
    2 Bedroom$460$1,120$1,580
    3 Bedroom-$140$2,200$2,060
    4 Bedroom-$300$2,800$2,500

    Affordability — Westfield, IN

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio3.7
    Median Home Price$490,000
    Median Household Income$124,000

    Westfield, IN — ZIP Code Boundary Map

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    Frequently Asked Questions