New Palestine, IN—46163
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — New Palestine, IN
As of Oct '25, the median home price in New Palestine, IN is $377,000, with a year-over-year change of 2.0%. This indicates that home prices in New Palestine, IN are increasing. According to Zillow, the 1-year price projection is 1.9%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $377,000 | 2.0% |
| Single Family | $379,000 | 2.2% |
| Condos | $310,000 | 5.8% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $278,000 | 5.3% |
3 Bed | $349,000 | 2.6% |
4 Bed | $414,000 | 2.0% |
| 5 Bed | $433,000 | 0.9% |
% of Housing Stock
Rental Trends — New Palestine, IN
As of July '25, Rentcast reports the average rent in New Palestine, IN is $2,130, with a year-over-year rent change of -5.3%. Per bedroom, the median rent as of July '25 in New Palestine, IN is 2-bedrooms: $975, 3-bedrooms: $1,990, 4-bedrooms: $2,460. The most common rental property sizes in New Palestine, IN are 2-bedroom and 3-bedroom, accounting for 51.7% and 18.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,380 | $2,130 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $850 | $975 |
| 3 Bed Rent | $1,990 | $1,990 |
| 4 Bed Rent | $2,400 | $2,460 |
% of Rental Stock
Property Listings — New Palestine, IN
As of Oct '25, Realtor.com reports that the median days on market for a home in New Palestine, IN is 40. 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 58.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $402,000 | 6.0% |
Listing Count | 65 | 66.0% |
| Listings as % of Homes | 1.0% | 66.0% |
Days on Market | 40 | 1.0% |
Demographics — New Palestine, IN
As of the latest ACS Survey released in 2023, New Palestine, IN has a population of 14,300, which has increased by 12.1% over the past 5 years. New Palestine, IN is a moderately popular place for families, as children make up 25.0% of the population. The area has a moderately educated workforce, with 43.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 16.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 14,300 | 12.1% |
% Under 18 | 25.0% | 2.0% |
% Seniors | 17.3% | 16.9% |
% WFH | 16.9% | 144.9% |
% w/ College Degree | 43.7% | 24.1% |
As of the latest ACS Survey released in 2023, New Palestine, IN is a predominantly white area, with 92.4% of the population identifying as white. The white population has shrunk by 4.0% in the last 5 years. The second most common race or ethnicity in New Palestine, IN is hispanic, making up 3.0% of the population. Foreign-born residents account for 1.8% of the population in New Palestine, IN, and this percentage has increased by 63.6% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 92.4% | -4.0% |
% Black | 0.6% | ∞% |
% Hispanic | 3.0% | 0.0% |
% Asian | 1.4% | 600.0% |
% Foreign Born | 1.8% | 63.6% |
Mortgage and Risk — New Palestine, IN
According to HUD data as of 2023, there were 537 mortgage originations in New Palestine, IN, of which 79.0% of loans were conventional mortgages. The average loan-to-value was 62.0%, with 30.0% above 90% LTV (very high). This implies large mortgage risk in New Palestine, IN. Investor activity is low, as 1.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 537 |
% Conventional Loans | 79.0% |
% Government Loans | 21.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — New Palestine, IN
New Palestine, IN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 6 |
Total Units Section 8 | 6 |
% Rentals under Section 8 | 2.3% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,050 |
| 2 Bedroom | $380 | $850 | $1,230 |
| 3 Bedroom | -$390 | $1,990 | $1,600 |
| 4 Bedroom | -$460 | $2,400 | $1,940 |
Affordability — New Palestine, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.2 |
| Median Home Price | $377,000 |
| Median Household Income | $111,000 |