Carthage, IN—46115
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Carthage, IN
Carthage, IN lacks sufficient home price data for analysis.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $226,000 | 4.4% |
| Single Family | $227,000 | 4.1% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $154,000 | 0.7% |
3 Bed | $243,000 | 5.2% |
4 Bed | $274,000 | 3.8% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Carthage, IN
As of July '25, Rentcast reports the average rent in Carthage, IN is $528, with a year-over-year rent change of -44.4%. Per bedroom, the median rent as of July '25 in Carthage, IN is 1-bedrooms: $528. The most common rental property sizes in Carthage, IN are 3-bedroom and 1-bedroom, accounting for 58.0% and 27.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $528 | $528 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $528 | $528 |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Carthage, IN
As of Oct '25, Realtor.com reports that the median days on market for a home in Carthage, IN is 53. This is a increase of 15.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 100.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $261,000 | -32.0% |
Listing Count | 4 | 36.0% |
| Listings as % of Homes | 1.0% | 36.0% |
Days on Market | 53 | 15.0% |
Demographics — Carthage, IN
As of the latest ACS Survey released in 2023, Carthage, IN has a population of 1,510, which has decreased by -19.3% over the past 5 years. Carthage, IN is a popular place for families, as children make up 25.9% of the population. The area has a poorly educated workforce, with 17.5% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 1,510 | -19.3% |
% Under 18 | 25.9% | 18.3% |
% Seniors | 17.0% | -15.8% |
% WFH | 7.5% | 5.6% |
% w/ College Degree | 17.5% | -14.2% |
As of the latest ACS Survey released in 2023, Carthage, IN is a predominantly white area, with 97.7% of the population identifying as white. The white population has grown by 2.5% in the last 5 years. The second most common race or ethnicity in Carthage, IN is hispanic, making up 1.1% of the population. Foreign-born residents account for 0.0% of the population in Carthage, IN, and this percentage has decreased by 100.0% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 97.7% | 2.5% |
% Black | 0.0% | N/A |
% Hispanic | 1.1% | -66.7% |
% Asian | 0.0% | N/A |
% Foreign Born | 0.0% | -100.0% |
Mortgage and Risk — Carthage, IN
According to HUD data as of 2023, there were 56 mortgage originations in Carthage, IN, of which 88.0% of loans were conventional mortgages. The average loan-to-value was 57.0%, with 27.0% above 90% LTV (very high). This implies large mortgage risk in Carthage, IN. Investor activity is low, as 0.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 56 |
% Conventional Loans | 88.0% |
% Government Loans | 12.0% |
% Investor Loans | 0.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Carthage, IN
Carthage, IN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | N/A |
Total Units Section 8 | N/A |
% Rentals under Section 8 | 0.6% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $512 | $528 | $1,040 |
| 2 Bedroom | N/A | N/A | $1,220 |
| 3 Bedroom | N/A | N/A | $1,590 |
| 4 Bedroom | N/A | N/A | $1,920 |
Affordability — Carthage, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4 |
| Median Home Price | $226,000 |
| Median Household Income | $49,500 |