Hobart, IN 46342 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Hobart, IN—46342

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$242,000

0.7% YoY Growth

Household Income

$72,200

23.9% YoY Growth

Days on Market

25.0% Longer YoY

Home Price Forecast

0.7%

Median Rent

$1,500

9.4% YoY Growth

1-Bed Rent

$850

16.4% YoY Growth

2-Bed Rent

$1,350

25.5% YoY Growth

3-Bed Rent

$1,600

1.8% YoY Growth

Home Price Trends — Hobart, IN

As of May '26, the median home price in Hobart, IN is $242,000, with a year-over-year change of 0.7%. This indicates that home prices in Hobart, IN are flat. According to Zillow, the 1-year price projection is 0.7%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$242,000	0.7%
Single Family	$243,000	0.8%
Condos	$184,000	4.5%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Hobart, IN

As of July '25, Rentcast reports the average rent in Hobart, IN is $1,510, with a year-over-year rent change of 9.4%. Per bedroom, the median rent as of July '25 in Hobart, IN is 1-bedrooms: $928, 2-bedrooms: $1,380, 3-bedrooms: $1,690. The most common rental property sizes in Hobart, IN are 2-bedroom and 1-bedroom, accounting for 43.4% and 23.7% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$1,500	$1,510
Studio Rent	N/A	N/A
1 Bed Rent	$850	$928
2 Bed Rent	$1,350	$1,380
3 Bed Rent	$1,600	$1,690
4 Bed Rent	N/A	N/A

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% of Rental Stock

Studio

3.5%

1 Bedroom

23.7%

2 Bedrooms

43.4%

3 Bedrooms

23.3%

4 Bedrooms

6.1%

Property Listings — Hobart, IN

As of May '26, Realtor.com reports that the median days on market for a home in Hobart, IN is 36. This is a increase of 25.0% 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 30.0%, representing a large inventory and a lot of supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$274,000	1.0%
Listing Count	132	14.0%
Listings as % of Homes	0.5%	14.0%
Days on Market	36	25.0%

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Demographics — Hobart, IN

As of the latest ACS Survey released in 2023, Hobart, IN has a population of 32,500, which has increased by 6.2% over the past 5 years. Hobart, IN is a moderately popular place for families, as children make up 23.0% of the population. The area has a poorly educated workforce, with 21.4% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 3.5% reporting working from home.

Metric	Latest Census	YoY % Change
Population	32,500	6.2%
% Under 18	23.0%	-2.1%
% Seniors	15.2%	4.8%
% WFH	3.5%	0.0%
% w/ College Degree	21.4%	13.8%

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As of the latest ACS Survey released in 2023, Hobart, IN is a predominantly white area, with 65.5% of the population identifying as white. The white population has shrunk by 14.5% in the last 5 years. The second most common race or ethnicity in Hobart, IN is hispanic, making up 20.8% of the population. Foreign-born residents account for 4.8% of the population in Hobart, IN, and this percentage has increased by 77.8% 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	65.5%	-14.5%
% Black	10.3%	87.3%
% Hispanic	20.8%	46.5%
% Asian	1.4%	27.3%
% Foreign Born	4.8%	77.8%

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Mortgage and Risk — Hobart, IN

According to HUD data as of 2023, there were 708 mortgage originations in Hobart, IN, of which 68.0% of loans were conventional mortgages. The average loan-to-value was 67.0%, with 37.0% above 90% LTV (very high). This implies large mortgage risk in Hobart, IN. Investor activity is low, as 1.0% of loans were by investors. 19.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	708
% Conventional Loans	68.0%
% Government Loans	32.0%
% Investor Loans	1.0%
% Second Loans	0.0%
% Cash Out Refinance	19.0%

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Rentals and Section 8 — Hobart, IN

Hobart, IN lacks sufficient Section 8 program data for analysis.

Section 8 Market Size

Total Units under HUD	195
Total Units Section 8	146
% Rentals under Section 8	5.4%
% Occupied Section 8	88.0%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	$150	$850	$1,000
2 Bedroom	-$130	$1,350	$1,220
3 Bedroom	-$100	$1,600	$1,500
4 Bedroom	N/A	N/A	$1,620

Hobart, IN—46342

Key Metrics at a Glance

Home Price Trends — Hobart, IN

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Hobart, IN

% of Rental Stock

Property Listings — Hobart, IN

Demographics — Hobart, IN

Race and Ethnicity

Mortgage and Risk — Hobart, IN

Mortgages

Rentals and Section 8 — Hobart, IN

Section 8 Market Size

Section 8 Opportunity

Affordability — Hobart, IN

Home Price to Income Ratio

Hobart, IN — ZIP Code Boundary Map

Nearby ZIP Codes

Lake Station, IN

Wheeler

Gary, IN

Gary, IN

Portage, IN

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	3
Median Home Price	$242,000
Median Household Income	$72,200

Hobart, IN—46342

Key Metrics at a Glance

Home Price Trends — Hobart, IN

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Hobart, IN

% of Rental Stock

Property Listings — Hobart, IN

Demographics — Hobart, IN

Race and Ethnicity

Mortgage and Risk — Hobart, IN

Mortgages

Rentals and Section 8 — Hobart, IN

Section 8 Market Size

Section 8 Opportunity

Affordability — Hobart, IN

Home Price to Income Ratio

Hobart, IN — ZIP Code Boundary Map

Nearby ZIP Codes

Lake Station, IN

Wheeler

Gary, IN

Gary, IN

Portage, IN

Frequently Asked Questions

What is the average home price in Hobart, IN 46342?

How have home prices in Hobart, IN 46342 changed over the past year?

What is the home price projection for Hobart, IN 46342?

What are the demographics of Hobart, IN 46342?

How long does it take homes to sell in Hobart, IN 46342?

What is the average rent price in Hobart, IN 46342?