Elkhart, IN—46517
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 $229,000, with a year-over-year change of 5.9%. This indicates that home prices in Elkhart, IN are increasing. According to Zillow, the 1-year price projection is 2.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $229,000 | 5.9% |
| Single Family | $230,000 | 6.5% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $164,000 | 6.5% |
3 Bed | $231,000 | 6.5% |
4 Bed | $303,000 | 5.2% |
| 5 Bed | $392,000 | 4.5% |
% of Housing Stock
Rental Trends — Elkhart, IN
As of July '25, Rentcast reports the average rent in Elkhart, IN is $1,010, with a year-over-year rent change of -15.1%. Per bedroom, the median rent as of July '25 in Elkhart, IN is studios: $725, 1-bedrooms: $964, 2-bedrooms: $977, 3-bedrooms: $1,380. The most common rental property sizes in Elkhart, IN are 2-bedroom and 1-bedroom, accounting for 41.0% and 26.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $884 | $1,010 |
| Studio Rent | $725 | $725 |
| 1 Bed Rent | $864 | $964 |
| 2 Bed Rent | $977 | $977 |
| 3 Bed Rent | $1,250 | $1,380 |
| 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 35. This is a increase of 11.0% 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 22.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $312,000 | -1.0% |
Listing Count | 36 | -25.0% |
| Listings as % of Homes | 0.2% | -25.0% |
Days on Market | 35 | 11.0% |
Demographics — Elkhart, IN
As of the latest ACS Survey released in 2023, Elkhart, IN has a population of 25,400, which has decreased by -2.8% over the past 5 years. Elkhart, IN is a popular place for families, as children make up 30.1% of the population. The area has a poorly educated workforce, with 14.7% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 4.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 25,400 | -2.8% |
% Under 18 | 30.1% | 6.0% |
% Seniors | 15.0% | 14.5% |
% WFH | 4.3% | 4.9% |
% w/ College Degree | 14.7% | -6.4% |
As of the latest ACS Survey released in 2023, Elkhart, IN is a predominantly white area, with 52.7% of the population identifying as white. The white population has shrunk by 14.7% in the last 5 years. The second most common race or ethnicity in Elkhart, IN is hispanic, making up 30.4% of the population. Foreign-born residents account for 12.0% of the population in Elkhart, IN, and this percentage has decreased by 2.4% 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 | 52.7% | -14.7% |
% Black | 12.0% | 20.0% |
% Hispanic | 30.4% | 26.7% |
% Asian | 0.2% | -50.0% |
% Foreign Born | 12.0% | -2.4% |
Mortgage and Risk — Elkhart, IN
According to HUD data as of 2023, there were 476 mortgage originations in Elkhart, IN, of which 81.0% of loans were conventional mortgages. The average loan-to-value was 58.0%, with 29.0% above 90% LTV (very high). This implies large mortgage risk in Elkhart, IN. Investor activity is low, as 0.0% 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 | 476 |
% Conventional Loans | 81.0% |
% Government Loans | 19.0% |
% Investor Loans | 0.0% |
% Second Loans | 0.0% |
% 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 | 712 |
Total Units Section 8 | 654 |
% Rentals under Section 8 | 20.0% |
% Occupied Section 8 | 91.3% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$64 | $864 | $800 |
| 2 Bedroom | $23 | $977 | $1,000 |
| 3 Bedroom | $30 | $1,250 | $1,280 |
| 4 Bedroom | N/A | N/A | $1,330 |
Affordability — Elkhart, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.8 |
| Median Home Price | $229,000 |
| Median Household Income | $53,300 |