Nappanee, IN—46550
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Nappanee, IN
As of Oct '25, the median home price in Nappanee, IN is $284,000, with a year-over-year change of 6.2%. This indicates that home prices in Nappanee, 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 | $284,000 | 6.2% |
| Single Family | $284,000 | 6.8% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $214,000 | 7.5% |
3 Bed | $265,000 | 6.9% |
4 Bed | $360,000 | 6.8% |
| 5 Bed | $531,000 | 6.8% |
% of Housing Stock
Rental Trends — Nappanee, IN
As of July '25, Rentcast reports the average rent in Nappanee, IN is $913, with a year-over-year rent change of 8.8%. Per bedroom, the median rent as of July '25 in Nappanee, IN is 1-bedrooms: $824, 2-bedrooms: $921, 3-bedrooms: $885. The most common rental property sizes in Nappanee, IN are 3-bedroom and 2-bedroom, accounting for 32.3% and 30.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $895 | $913 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $824 | $824 |
| 2 Bed Rent | $895 | $921 |
| 3 Bed Rent | $885 | $885 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Nappanee, IN
As of Oct '25, Realtor.com reports that the median days on market for a home in Nappanee, IN is 49. This is a decrease of -29.0% 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 28.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $252,000 | 4.0% |
Listing Count | 29 | 34.0% |
| Listings as % of Homes | 0.3% | 34.0% |
Days on Market | 49 | -29.0% |
Demographics — Nappanee, IN
As of the latest ACS Survey released in 2023, Nappanee, IN has a population of 12,400, which has decreased by -2.7% over the past 5 years. Nappanee, IN is a popular place for families, as children make up 26.6% of the population. The area has a poorly educated workforce, with 9.0% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 4.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 12,400 | -2.7% |
% Under 18 | 26.6% | -8.9% |
% Seniors | 11.7% | -14.0% |
% WFH | 4.1% | 28.1% |
% w/ College Degree | 9.0% | -40.8% |
As of the latest ACS Survey released in 2023, Nappanee, IN is a predominantly white area, with 83.1% of the population identifying as white. The white population has shrunk by 9.0% in the last 5 years. The second most common race or ethnicity in Nappanee, IN is hispanic, making up 12.9% of the population. Foreign-born residents account for 5.6% of the population in Nappanee, IN, and this percentage has increased by 55.6% 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 | 83.1% | -9.0% |
% Black | 1.2% | 300.0% |
% Hispanic | 12.9% | 111.5% |
% Asian | 1.3% | 18.2% |
% Foreign Born | 5.6% | 55.6% |
Mortgage and Risk — Nappanee, IN
According to HUD data as of 2023, there were 211 mortgage originations in Nappanee, IN, of which 86.0% of loans were conventional mortgages. The average loan-to-value was 59.0%, with 22.0% above 90% LTV (very high). This implies large mortgage risk in Nappanee, IN. Investor activity is low, as 0.0% of loans were by investors. 18.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 211 |
% Conventional Loans | 86.0% |
% Government Loans | 14.0% |
% Investor Loans | 0.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 18.0% |
Loan Activity
Rentals and Section 8 — Nappanee, IN
Nappanee, IN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 57 |
Total Units Section 8 | 57 |
% Rentals under Section 8 | 4.4% |
% Occupied Section 8 | 98.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $6 | $824 | $830 |
| 2 Bedroom | $115 | $895 | $1,010 |
| 3 Bedroom | $425 | $885 | $1,310 |
| 4 Bedroom | N/A | N/A | $1,360 |
Affordability — Nappanee, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.1 |
| Median Home Price | $284,000 |
| Median Household Income | $80,400 |