New Pekin, IN—47165
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — New Pekin, IN
As of Oct '25, the median home price in New Pekin, IN is $228,000, with a year-over-year change of 3.8%. This indicates that home prices in New Pekin, IN are increasing. According to Zillow, the 1-year price projection is 1.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $228,000 | 3.8% |
| Single Family | $227,000 | 3.7% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $166,000 | 3.1% |
3 Bed | $229,000 | 4.1% |
4 Bed | $306,000 | 4.1% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — New Pekin, IN
As of July '25, Rentcast reports the average rent in New Pekin, IN is $1,050, with a year-over-year rent change of 0.0%. Per bedroom, the median rent as of July '25 in New Pekin, IN is 2-bedrooms: $1,050. The most common rental property sizes in New Pekin, IN are 2-bedroom and 4-bedroom, accounting for 45.6% and 26.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,050 | $1,050 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $1,050 | $1,050 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — New Pekin, IN
As of Oct '25, Realtor.com reports that the median days on market for a home in New Pekin, IN is 44. This is a decrease of -37.0% 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 38.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $204,000 | -21.0% |
Listing Count | 16 | 77.0% |
| Listings as % of Homes | 0.2% | 77.0% |
Days on Market | 44 | -37.0% |
Demographics — New Pekin, IN
As of the latest ACS Survey released in 2023, New Pekin, IN has a population of 6,600, which has increased by 4.2% over the past 5 years. New Pekin, IN is a popular place for families, as children make up 25.6% of the population. The area has a poorly educated workforce, with 16.0% 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 | 6,600 | 4.2% |
% Under 18 | 25.6% | 19.6% |
% Seniors | 15.1% | -4.4% |
% WFH | 7.9% | 229.2% |
% w/ College Degree | 16.0% | 3.9% |
As of the latest ACS Survey released in 2023, New Pekin, IN is a predominantly white area, with 95.2% of the population identifying as white. The white population has shrunk by 1.3% in the last 5 years. The second most common race or ethnicity in New Pekin, IN is hispanic, making up 2.5% of the population. Foreign-born residents account for 1.0% of the population in New Pekin, IN, and this percentage has increased by 400.0% 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 | 95.2% | -1.3% |
% Black | 0.6% | ∞% |
% Hispanic | 2.5% | 31.6% |
% Asian | 0.3% | 200.0% |
% Foreign Born | 1.0% | 400.0% |
Mortgage and Risk — New Pekin, IN
According to HUD data as of 2023, there were 174 mortgage originations in New Pekin, IN, of which 78.0% of loans were conventional mortgages. The average loan-to-value was 59.0%, with 28.0% above 90% LTV (very high). This implies large mortgage risk in New Pekin, IN. Investor activity is low, as 1.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 174 |
% Conventional Loans | 78.0% |
% Government Loans | 22.0% |
% Investor Loans | 1.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 13.0% |
Loan Activity
Rentals and Section 8 — New Pekin, IN
New Pekin, IN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 15 |
Total Units Section 8 | 15 |
% Rentals under Section 8 | 5.2% |
% Occupied Section 8 | 89.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $970 |
| 2 Bedroom | $130 | $1,050 | $1,180 |
| 3 Bedroom | N/A | N/A | $1,540 |
| 4 Bedroom | N/A | N/A | $1,760 |
Affordability — New Pekin, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.6 |
| Median Home Price | $228,000 |
| Median Household Income | $76,100 |