Elkhart, IN—46514
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Elkhart, IN
As of Oct '25, the median home price in Elkhart, IN is $236,000, with a year-over-year change of 5.7%. This indicates that home prices in Elkhart, IN are increasing. According to Zillow, the 1-year price projection is 2.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $236,000 | 5.7% |
| Single Family | $237,000 | 6.3% |
| Condos | $199,000 | 5.9% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $119,000 | 4.4% |
2 Bed | $169,000 | 7.0% |
3 Bed | $237,000 | 6.3% |
4 Bed | $304,000 | 4.8% |
| 5 Bed | $378,000 | 4.4% |
% of Housing Stock
Rental Trends — Elkhart, IN
As of July '25, Rentcast reports the average rent in Elkhart, IN is $1,090, with a year-over-year rent change of 0.0%. Per bedroom, the median rent as of July '25 in Elkhart, IN is 1-bedrooms: $857, 2-bedrooms: $1,170, 3-bedrooms: $1,120. The most common rental property sizes in Elkhart, IN are 2-bedroom and 3-bedroom, accounting for 46.8% and 26.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,080 | $1,090 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $840 | $857 |
| 2 Bed Rent | $1,100 | $1,170 |
| 3 Bed Rent | $1,050 | $1,120 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Elkhart, IN
As of Oct '25, Realtor.com reports that the median days on market for a home in Elkhart, IN is 49. This is a increase of 27.0% 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 32.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $314,000 | 5.0% |
Listing Count | 139 | 30.0% |
| Listings as % of Homes | 0.3% | 30.0% |
Days on Market | 49 | 27.0% |
Demographics — Elkhart, IN
As of the latest ACS Survey released in 2023, Elkhart, IN has a population of 41,500, which has remained stable by 0.4% over the past 5 years. Elkhart, IN is a moderately popular place for families, as children make up 23.3% of the population. The area has a poorly educated workforce, with 20.6% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 3.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 41,500 | 0.4% |
% Under 18 | 23.3% | -1.3% |
% Seniors | 18.2% | 2.2% |
% WFH | 3.3% | 37.5% |
% w/ College Degree | 20.6% | 6.2% |
As of the latest ACS Survey released in 2023, Elkhart, IN is a predominantly white area, with 73.9% of the population identifying as white. The white population has shrunk by 5.3% in the last 5 years. The second most common race or ethnicity in Elkhart, IN is hispanic, making up 14.4% of the population. Foreign-born residents account for 7.6% of the population in Elkhart, IN, and this percentage has increased by 24.6% 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 | 73.9% | -5.3% |
% Black | 5.8% | 26.1% |
% Hispanic | 14.4% | 21.0% |
% Asian | 1.6% | -23.8% |
% Foreign Born | 7.6% | 24.6% |
Mortgage and Risk — Elkhart, IN
According to HUD data as of 2023, there were 1072 mortgage originations in Elkhart, IN, of which 82.0% 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 Elkhart, IN. Investor activity is low, as 1.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 1,072 |
% Conventional Loans | 82.0% |
% Government Loans | 18.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Elkhart, IN
Elkhart, IN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 274 |
Total Units Section 8 | 244 |
% Rentals under Section 8 | 4.9% |
% Occupied Section 8 | 95.3% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $70 | $840 | $910 |
| 2 Bedroom | $0 | $1,100 | $1,100 |
| 3 Bedroom | $380 | $1,050 | $1,430 |
| 4 Bedroom | N/A | N/A | $1,460 |
Affordability — Elkhart, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.4 |
| Median Home Price | $236,000 |
| Median Household Income | $61,800 |