North Manchester, IN—46962
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — North Manchester, IN
As of Oct '25, the median home price in North Manchester, IN is $194,000, with a year-over-year change of 5.3%. This indicates that home prices in North Manchester, 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 | 5.3% |
| Single Family | $195,000 | 4.8% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $142,000 | 5.2% |
3 Bed | $198,000 | 5.3% |
4 Bed | $234,000 | 4.9% |
| 5 Bed | $283,000 | 5.6% |
% of Housing Stock
Rental Trends — North Manchester, IN
As of July '25, Rentcast reports the average rent in North Manchester, IN is $900, with a year-over-year rent change of -35.7%. Per bedroom, the median rent as of July '25 in North Manchester, IN is 2-bedrooms: $900. The most common rental property sizes in North Manchester, IN are 1-bedroom and 2-bedroom, accounting for 36.3% and 36.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $900 | $900 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $900 | $900 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — North Manchester, IN
As of Oct '25, Realtor.com reports that the median days on market for a home in North Manchester, IN is 30. This is a decrease of -65.0% 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 35.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $241,000 | -21.0% |
Listing Count | 34 | 54.0% |
| Listings as % of Homes | 0.3% | 54.0% |
Days on Market | 30 | -65.0% |
Demographics — North Manchester, IN
As of the latest ACS Survey released in 2023, North Manchester, IN has a population of 8,990, which has decreased by -1.7% over the past 5 years. North Manchester, IN is a moderately popular place for families, as children make up 17.9% of the population. The area has a poorly educated workforce, with 20.4% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 8,990 | -1.7% |
% Under 18 | 17.9% | -10.1% |
% Seniors | 20.8% | 1.5% |
% WFH | 6.5% | 62.5% |
% w/ College Degree | 20.4% | -20.6% |
As of the latest ACS Survey released in 2023, North Manchester, IN is a predominantly white area, with 92.5% of the population identifying as white. The white population has grown by 0.2% in the last 5 years. The second most common race or ethnicity in North Manchester, IN is black, making up 2.4% of the population. Foreign-born residents account for 1.7% of the population in North Manchester, IN, and this percentage has decreased by 26.1% 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 | 92.5% | 0.2% |
% Black | 2.4% | 41.2% |
% Hispanic | 2.2% | -55.1% |
% Asian | 0.4% | 300.0% |
% Foreign Born | 1.7% | -26.1% |
Mortgage and Risk — North Manchester, IN
According to HUD data as of 2023, there were 167 mortgage originations in North Manchester, IN, of which 67.0% of loans were conventional mortgages. The average loan-to-value was 68.0%, with 35.0% above 90% LTV (very high). This implies large mortgage risk in North Manchester, IN. Investor activity is low, as 1.0% of loans were by investors. 26.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 167 |
% Conventional Loans | 67.0% |
% Government Loans | 33.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 26.0% |
Loan Activity
Rentals and Section 8 — North Manchester, IN
North Manchester, IN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 4 |
Total Units Section 8 | 4 |
% Rentals under Section 8 | 1.3% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $810 |
| 2 Bedroom | $110 | $900 | $1,010 |
| 3 Bedroom | N/A | N/A | $1,250 |
| 4 Bedroom | N/A | N/A | $1,350 |
Affordability — North Manchester, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.3 |
| Median Home Price | $194,000 |
| Median Household Income | $71,900 |