Winona Lake, IN—46590
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Winona Lake, IN
As of Oct '25, the median home price in Winona Lake, IN is $292,000, with a year-over-year change of 3.4%. This indicates that home prices in Winona Lake, 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 | $292,000 | 3.4% |
| Single Family | $289,000 | 3.6% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $193,000 | 5.5% |
3 Bed | $281,000 | 3.3% |
4 Bed | $346,000 | 3.0% |
| 5 Bed | $471,000 | 3.7% |
% of Housing Stock
Rental Trends — Winona Lake, IN
As of July '25, Rentcast reports the average rent in Winona Lake, IN is $2,100, with a year-over-year rent change of 76.5%. Per bedroom, the median rent as of July '25 in Winona Lake, IN is studios: $835, 2-bedrooms: $3,980, 3-bedrooms: $1,480. The most common rental property sizes in Winona Lake, IN are 2-bedroom and 4-bedroom, accounting for 29.7% and 24.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,480 | $2,100 |
| Studio Rent | $835 | $835 |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $3,980 | $3,980 |
| 3 Bed Rent | $1,480 | $1,480 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Winona Lake, IN
As of Oct '25, Realtor.com reports that the median days on market for a home in Winona Lake, IN is 46. 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 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $406,000 | -2.0% |
Listing Count | 17 | -16.0% |
| Listings as % of Homes | 0.1% | -16.0% |
Days on Market | 46 | -10.0% |
Demographics — Winona Lake, IN
As of the latest ACS Survey released in 2023, Winona Lake, IN has a population of 5,070, which has increased by 3.1% over the past 5 years. Winona Lake, IN is a moderately popular place for families, as children make up 15.6% of the population. The area has a highly educated workforce, with 50.8% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 5,070 | 3.1% |
% Under 18 | 15.6% | -23.5% |
% Seniors | 10.1% | -12.9% |
% WFH | 6.9% | -5.5% |
% w/ College Degree | 50.8% | 10.0% |
As of the latest ACS Survey released in 2023, Winona Lake, IN is a predominantly white area, with 78.8% of the population identifying as white. The white population has shrunk by 7.8% in the last 5 years. The second most common race or ethnicity in Winona Lake, IN is hispanic, making up 13.9% of the population. Foreign-born residents account for 6.6% of the population in Winona Lake, IN, and this percentage has increased by 6.5% 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 | 78.8% | -7.8% |
% Black | 1.0% | 0.0% |
% Hispanic | 13.9% | 61.6% |
% Asian | 0.4% | -60.0% |
% Foreign Born | 6.6% | 6.5% |
Mortgage and Risk — Winona Lake, IN
According to HUD data as of 2023, there were 100 mortgage originations in Winona Lake, IN, of which 91.0% of loans were conventional mortgages. The average loan-to-value was 57.0%, with 22.0% above 90% LTV (very high). This implies large mortgage risk in Winona Lake, IN. Investor activity is low, as 1.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 100 |
% Conventional Loans | 91.0% |
% Government Loans | 9.0% |
% Investor Loans | 1.0% |
% Second Loans | 4.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Winona Lake, IN
Winona Lake, IN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 21 |
Total Units Section 8 | 21 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 80.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $970 |
| 2 Bedroom | -$2,780 | $3,980 | $1,200 |
| 3 Bedroom | $0 | $1,480 | $1,480 |
| 4 Bedroom | N/A | N/A | $1,680 |
Affordability — Winona Lake, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.8 |
| Median Home Price | $292,000 |
| Median Household Income | $97,800 |