Sullivan, IN—47882
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Sullivan, IN
As of Oct '25, the median home price in Sullivan, IN is $169,000, with a year-over-year change of 12.4%. This indicates that home prices in Sullivan, IN are increasing. According to Zillow, the 1-year price projection is 1.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $169,000 | 12.4% |
| Single Family | $170,000 | 11.8% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $114,000 | 14.0% |
3 Bed | $188,000 | 11.9% |
4 Bed | $234,000 | 10.4% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Sullivan, IN
As of July '25, Rentcast reports the average rent in Sullivan, IN is $1,150, with a year-over-year rent change of 43.8%. Per bedroom, the median rent as of July '25 in Sullivan, IN is 2-bedrooms: $900, 3-bedrooms: $1,400. The most common rental property sizes in Sullivan, IN are 2-bedroom and 3-bedroom, accounting for 44.7% and 17.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $900 | $1,150 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $900 | $900 |
| 3 Bed Rent | $1,400 | $1,400 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Sullivan, IN
As of Oct '25, Realtor.com reports that the median days on market for a home in Sullivan, IN is 29. 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 13.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $228,000 | 3.0% |
Listing Count | 46 | 35.0% |
| Listings as % of Homes | 0.3% | 35.0% |
Days on Market | 29 | 12.0% |
Demographics — Sullivan, IN
As of the latest ACS Survey released in 2023, Sullivan, IN has a population of 8,490, which has increased by 9.1% over the past 5 years. Sullivan, IN is a moderately popular place for families, as children make up 24.6% of the population. The area has a poorly educated workforce, with 18.5% 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 | 8,490 | 9.1% |
% Under 18 | 24.6% | 24.9% |
% Seniors | 23.5% | 11.4% |
% WFH | 4.1% | 925.0% |
% w/ College Degree | 18.5% | 48.0% |
As of the latest ACS Survey released in 2023, Sullivan, IN is a predominantly white area, with 95.4% of the population identifying as white. The white population has shrunk by 2.3% in the last 5 years. The second most common race or ethnicity in Sullivan, IN is hispanic, making up 0.8% of the population. Foreign-born residents account for 0.8% of the population in Sullivan, IN, and this percentage has decreased by 27.3% 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 | 95.4% | -2.3% |
% Black | 0.0% | N/A |
% Hispanic | 0.8% | 100.0% |
% Asian | 0.6% | -53.8% |
% Foreign Born | 0.8% | -27.3% |
Mortgage and Risk — Sullivan, IN
According to HUD data as of 2023, there were 158 mortgage originations in Sullivan, IN, of which 75.0% of loans were conventional mortgages. The average loan-to-value was 66.0%, with 30.0% above 90% LTV (very high). This implies large mortgage risk in Sullivan, IN. Investor activity is low, as 1.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 158 |
% Conventional Loans | 75.0% |
% Government Loans | 25.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Sullivan, IN
Sullivan, IN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 260 |
Total Units Section 8 | 10 |
% Rentals under Section 8 | 1.5% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $730 |
| 2 Bedroom | $60 | $900 | $960 |
| 3 Bedroom | -$240 | $1,400 | $1,160 |
| 4 Bedroom | N/A | N/A | $1,490 |
Affordability — Sullivan, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.7 |
| Median Home Price | $169,000 |
| Median Household Income | $53,500 |