Hobart, IN—46342
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Hobart, IN
As of Oct '25, the median home price in Hobart, IN is $234,000, with a year-over-year change of 1.7%. This indicates that home prices in Hobart, IN are increasing. According to Zillow, the 1-year price projection is 0.7%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $234,000 | 1.7% |
| Single Family | $235,000 | 1.3% |
| Condos | $185,000 | 5.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $182,000 | 2.8% |
3 Bed | $233,000 | 1.3% |
4 Bed | $305,000 | 1.7% |
| 5 Bed | $344,000 | 1.2% |
% of Housing Stock
Rental Trends — Hobart, IN
As of July '25, Rentcast reports the average rent in Hobart, IN is $1,510, with a year-over-year rent change of 9.4%. Per bedroom, the median rent as of July '25 in Hobart, IN is 1-bedrooms: $928, 2-bedrooms: $1,380, 3-bedrooms: $1,690. The most common rental property sizes in Hobart, IN are 2-bedroom and 1-bedroom, accounting for 43.4% and 23.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,500 | $1,510 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $850 | $928 |
| 2 Bed Rent | $1,350 | $1,380 |
| 3 Bed Rent | $1,600 | $1,690 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Hobart, IN
As of Oct '25, Realtor.com reports that the median days on market for a home in Hobart, IN is 46. This is a increase of 29.0% 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 32.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $272,000 | 12.0% |
Listing Count | 126 | 36.0% |
| Listings as % of Homes | 0.5% | 36.0% |
Days on Market | 46 | 29.0% |
Demographics — Hobart, IN
As of the latest ACS Survey released in 2023, Hobart, IN has a population of 32,500, which has increased by 6.2% over the past 5 years. Hobart, IN is a moderately popular place for families, as children make up 23.0% of the population. The area has a poorly educated workforce, with 21.4% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 3.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 32,500 | 6.2% |
% Under 18 | 23.0% | -2.1% |
% Seniors | 15.2% | 4.8% |
% WFH | 3.5% | 0.0% |
% w/ College Degree | 21.4% | 13.8% |
As of the latest ACS Survey released in 2023, Hobart, IN is a predominantly white area, with 65.5% of the population identifying as white. The white population has shrunk by 14.5% in the last 5 years. The second most common race or ethnicity in Hobart, IN is hispanic, making up 20.8% of the population. Foreign-born residents account for 4.8% of the population in Hobart, IN, and this percentage has increased by 77.8% 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 | 65.5% | -14.5% |
% Black | 10.3% | 87.3% |
% Hispanic | 20.8% | 46.5% |
% Asian | 1.4% | 27.3% |
% Foreign Born | 4.8% | 77.8% |
Mortgage and Risk — Hobart, IN
According to HUD data as of 2023, there were 708 mortgage originations in Hobart, IN, of which 68.0% of loans were conventional mortgages. The average loan-to-value was 67.0%, with 37.0% above 90% LTV (very high). This implies large mortgage risk in Hobart, IN. Investor activity is low, as 1.0% of loans were by investors. 19.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 708 |
% Conventional Loans | 68.0% |
% Government Loans | 32.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 19.0% |
Loan Activity
Rentals and Section 8 — Hobart, IN
Hobart, IN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 195 |
Total Units Section 8 | 146 |
% Rentals under Section 8 | 5.4% |
% Occupied Section 8 | 88.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $150 | $850 | $1,000 |
| 2 Bedroom | -$130 | $1,350 | $1,220 |
| 3 Bedroom | -$100 | $1,600 | $1,500 |
| 4 Bedroom | N/A | N/A | $1,620 |
Affordability — Hobart, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.9 |
| Median Home Price | $234,000 |
| Median Household Income | $72,200 |