Wakarusa, IN—46573
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Wakarusa, IN
As of Oct '25, the median home price in Wakarusa, IN is $306,000, with a year-over-year change of 6.4%. This indicates that home prices in Wakarusa, IN are increasing. According to Zillow, the 1-year price projection is 2.8%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $306,000 | 6.4% |
| Single Family | $306,000 | 7.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $240,000 | 8.1% |
3 Bed | $294,000 | 6.9% |
4 Bed | $352,000 | 7.0% |
| 5 Bed | $470,000 | 7.6% |
% of Housing Stock
Rental Trends — Wakarusa, IN
As of July '25, Rentcast reports the average rent in Wakarusa, IN is $996, with a year-over-year rent change of 1.9%. Per bedroom, the median rent as of July '25 in Wakarusa, IN is 1-bedrooms: $762, 2-bedrooms: $820, 3-bedrooms: $1,200. The most common rental property sizes in Wakarusa, IN are 1-bedroom and 2-bedroom, accounting for 42.7% and 23.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $762 | $996 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $762 | $762 |
| 2 Bed Rent | $820 | $820 |
| 3 Bed Rent | $400 | $1,200 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Wakarusa, IN
As of Oct '25, Realtor.com reports that the median days on market for a home in Wakarusa, IN is 44. This is a increase of 12.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $268,000 | 10.0% |
Listing Count | 4 | -47.0% |
| Listings as % of Homes | 0.1% | -47.0% |
Days on Market | 44 | 12.0% |
Demographics — Wakarusa, IN
As of the latest ACS Survey released in 2023, Wakarusa, IN has a population of 3,940, which has increased by 5.3% over the past 5 years. Wakarusa, IN is a popular place for families, as children make up 26.8% of the population. The area has a moderately educated workforce, with 26.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 3,940 | 5.3% |
% Under 18 | 26.8% | 8.1% |
% Seniors | 17.3% | -6.5% |
% WFH | 7.9% | 125.7% |
% w/ College Degree | 26.2% | 18.0% |
As of the latest ACS Survey released in 2023, Wakarusa, IN is a predominantly white area, with 86.2% of the population identifying as white. The white population has shrunk by 8.2% in the last 5 years. The second most common race or ethnicity in Wakarusa, IN is hispanic, making up 5.4% of the population. Foreign-born residents account for 2.4% of the population in Wakarusa, IN, and this percentage has increased by 4.3% 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 | 86.2% | -8.2% |
% Black | 1.1% | 37.5% |
% Hispanic | 5.4% | 170.0% |
% Asian | 2.8% | 55.6% |
% Foreign Born | 2.4% | 4.3% |
Mortgage and Risk — Wakarusa, IN
According to HUD data as of 2023, there were 70 mortgage originations in Wakarusa, IN, of which 93.0% of loans were conventional mortgages. The average loan-to-value was 47.0%, with 10.0% above 90% LTV (elevated). This implies medium mortgage risk in Wakarusa, IN. Investor activity is low, as 0.0% 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 | 70 |
% Conventional Loans | 93.0% |
% Government Loans | 7.0% |
% Investor Loans | 0.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 17.0% |
Loan Activity
Rentals and Section 8 — Wakarusa, IN
Wakarusa, IN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | N/A |
Total Units Section 8 | N/A |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $108 | $762 | $870 |
| 2 Bedroom | $230 | $820 | $1,050 |
| 3 Bedroom | $960 | $400 | $1,360 |
| 4 Bedroom | N/A | N/A | $1,390 |
Affordability — Wakarusa, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.4 |
| Median Home Price | $306,000 |
| Median Household Income | $79,400 |