Muncie, IN—47304
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Muncie, IN
As of Oct '25, the median home price in Muncie, IN is $207,000, with a year-over-year change of 5.6%. This indicates that home prices in Muncie, IN are increasing. According to Zillow, the 1-year price projection is 3.0%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $207,000 | 5.6% |
| Single Family | $207,000 | 5.1% |
| Condos | $199,000 | 6.4% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $151,000 | 5.6% |
3 Bed | $196,000 | 5.4% |
4 Bed | $265,000 | 4.3% |
| 5 Bed | $333,000 | 3.4% |
% of Housing Stock
Rental Trends — Muncie, IN
As of July '25, Rentcast reports the average rent in Muncie, IN is $1,120, with a year-over-year rent change of -1.8%. Per bedroom, the median rent as of July '25 in Muncie, IN is studios: $668, 1-bedrooms: $839, 2-bedrooms: $1,130, 3-bedrooms: $1,240, 4-bedrooms: $1,420. The most common rental property sizes in Muncie, IN are 2-bedroom and 3-bedroom, accounting for 37.2% and 29.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,200 | $1,120 |
| Studio Rent | $650 | $668 |
| 1 Bed Rent | $850 | $839 |
| 2 Bed Rent | $1,180 | $1,130 |
| 3 Bed Rent | $1,200 | $1,240 |
| 4 Bed Rent | $1,600 | $1,420 |
% of Rental Stock
Property Listings — Muncie, IN
As of Oct '25, Realtor.com reports that the median days on market for a home in Muncie, IN is 41. This is a decrease of -10.0% 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 34.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $262,000 | 7.0% |
Listing Count | 140 | 34.0% |
| Listings as % of Homes | 0.3% | 34.0% |
Days on Market | 41 | -10.0% |
Demographics — Muncie, IN
As of the latest ACS Survey released in 2023, Muncie, IN has a population of 31,400, which has decreased by -1.5% over the past 5 years. Muncie, IN is a moderately popular place for families, as children make up 16.2% of the population. The area has a moderately educated workforce, with 41.0% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 31,400 | -1.5% |
% Under 18 | 16.2% | -14.3% |
% Seniors | 21.5% | 9.7% |
% WFH | 7.2% | 125.0% |
% w/ College Degree | 41.0% | 2.8% |
As of the latest ACS Survey released in 2023, Muncie, IN is a predominantly white area, with 84.6% of the population identifying as white. The white population has shrunk by 4.2% in the last 5 years. The second most common race or ethnicity in Muncie, IN is black, making up 4.0% of the population. Foreign-born residents account for 4.9% of the population in Muncie, IN, and this percentage has increased by 32.4% 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 | 84.6% | -4.2% |
% Black | 4.0% | 2.6% |
% Hispanic | 3.1% | 19.2% |
% Asian | 3.9% | 11.4% |
% Foreign Born | 4.9% | 32.4% |
Mortgage and Risk — Muncie, IN
According to HUD data as of 2023, there were 640 mortgage originations in Muncie, IN, of which 82.0% of loans were conventional mortgages. The average loan-to-value was 63.0%, with 25.0% above 90% LTV (very high). This implies large mortgage risk in Muncie, IN. Investor activity is low, as 2.0% 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 | 640 |
% Conventional Loans | 82.0% |
% Government Loans | 18.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 13.0% |
Loan Activity
Rentals and Section 8 — Muncie, IN
As of 2024, the percent of homes in Muncie, IN under the Section 8 program is 5.0%. 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. 1-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Muncie, IN, because HUD payments exceed market rent, while 2-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 232 |
Total Units Section 8 | 232 |
% Rentals under Section 8 | 5.0% |
% Occupied Section 8 | 86.8% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $10 | $850 | $860 |
| 2 Bedroom | -$130 | $1,180 | $1,050 |
| 3 Bedroom | $180 | $1,200 | $1,380 |
| 4 Bedroom | $0 | $1,600 | $1,600 |
Affordability — Muncie, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.6 |
| Median Home Price | $207,000 |
| Median Household Income | $67,800 |