Mishawaka, IN—46544
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Mishawaka, IN
Home Price Trends — Mishawaka, IN
As of Oct '25, the median home price in Mishawaka, IN is $194,000, with a year-over-year change of 2.4%. This indicates that home prices in Mishawaka, IN are increasing. According to Zillow, the 1-year price projection is 2.4%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $194,000 | 2.4% |
| Single Family | $193,000 | 2.1% |
| Condos | $224,000 | 6.2% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $104,000 | 1.0% |
2 Bed | $147,000 | 2.1% |
3 Bed | $210,000 | 2.4% |
4 Bed | $268,000 | 3.1% |
| 5 Bed | $345,000 | 3.3% |
% of Housing Stock
Rental Trends — Mishawaka, IN
As of July '25, Rentcast reports the average rent in Mishawaka, IN is $1,300, with a year-over-year rent change of -12.2%. Per bedroom, the median rent as of July '25 in Mishawaka, IN is studios: $1,180, 1-bedrooms: $969, 2-bedrooms: $1,050, 3-bedrooms: $1,510, 4-bedrooms: $2,800. The most common rental property sizes in Mishawaka, IN are 1-bedroom and 2-bedroom, accounting for 39.9% and 31.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,180 | $1,300 |
| Studio Rent | $1,180 | $1,180 |
| 1 Bed Rent | $995 | $969 |
| 2 Bed Rent | $1,100 | $1,050 |
| 3 Bed Rent | $1,490 | $1,510 |
| 4 Bed Rent | $2,800 | $2,800 |
% of Rental Stock
Property Listings — Mishawaka, IN
As of Oct '25, Realtor.com reports that the median days on market for a home in Mishawaka, IN is 40. This is a decrease of -7.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 21.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $226,000 | 5.0% |
Listing Count | 94 | -7.0% |
| Listings as % of Homes | 0.2% | -7.0% |
Days on Market | 40 | -7.0% |
Demographics — Mishawaka, IN
As of the latest ACS Survey released in 2023, Mishawaka, IN has a population of 31,100, which has remained stable by -0.7% over the past 5 years. Mishawaka, IN is a moderately popular place for families, as children make up 24.5% of the population. The area has a poorly educated workforce, with 24.9% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 31,100 | -0.7% |
% Under 18 | 24.5% | 4.7% |
% Seniors | 15.1% | -2.6% |
% WFH | 8.0% | 142.4% |
% w/ College Degree | 24.9% | 11.7% |
As of the latest ACS Survey released in 2023, Mishawaka, IN is a predominantly white area, with 79.2% of the population identifying as white. The white population has shrunk by 8.8% in the last 5 years. The second most common race or ethnicity in Mishawaka, IN is black, making up 9.3% of the population. Foreign-born residents account for 3.6% of the population in Mishawaka, IN, and this percentage has increased by 20.0% 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 | 79.2% | -8.8% |
% Black | 9.3% | 102.2% |
% Hispanic | 5.6% | 21.7% |
% Asian | 1.0% | 11.1% |
% Foreign Born | 3.6% | 20.0% |
Mortgage and Risk — Mishawaka, IN
According to HUD data as of 2023, there were 730 mortgage originations in Mishawaka, IN, of which 82.0% of loans were conventional mortgages. The average loan-to-value was 64.0%, with 35.0% above 90% LTV (very high). This implies large mortgage risk in Mishawaka, IN. Investor activity is low, as 1.0% of loans were by investors. 17.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 730 |
% Conventional Loans | 82.0% |
% Government Loans | 18.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 17.0% |
Loan Activity
Rentals and Section 8 — Mishawaka, IN
As of 2024, the percent of homes in Mishawaka, IN under the Section 8 program is 10.8%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Mishawaka, IN, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 812 |
Total Units Section 8 | 452 |
% Rentals under Section 8 | 10.8% |
% Occupied Section 8 | 95.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$85 | $995 | $910 |
| 2 Bedroom | -$30 | $1,100 | $1,070 |
| 3 Bedroom | -$170 | $1,490 | $1,320 |
| 4 Bedroom | -$1,380 | $2,800 | $1,420 |
Affordability — Mishawaka, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3 |
| Median Home Price | $194,000 |
| Median Household Income | $57,900 |