Hancock County, Indiana Housing Market
In Hancock County, Indiana, the median home value is $274,800, with a median monthly rent of $1,203. This places Hancock County at #756 nationally out of 3134 counties by median home value, and #7 within Indiana.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $1,138
- Establishments: 2,074
- BLS QCEW, 2025
Housing Supply
- Single-family: 1,057
- Multi-family: 155
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 35,573 (avg $88,984)
- Outflow: 33,231 (avg $90,550)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 9 active ZIP codes in Hancock County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 46186 | 230.0 | -39.30% | 2025 |
| 2 | 46056 | 211.8 | +3.75% | 2025 |
| 3 | 46130 | 228.7 | +8.00% | 2025 |
| 4 | 46064 | 239.2 | +5.21% | 2025 |
| 5 | 46161 | 220.8 | +0.86% | 2025 |
| 6 | 46140 | 220.7 | +7.70% | 2025 |
| 7 | 46163 | 212.2 | +2.04% | 2025 |
| 8 | 46229 | 206.6 | +5.29% | 2025 |
| 9 | 46239 | 214.8 | +1.68% | 2025 |
Source: FHFA HPI for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100).
This product uses FHFA Data but is neither endorsed nor certified by FHFA.
📝 Local Market Notes
Hancock County, Indiana, operates as a balanced market with a slight tilt toward buyer-friendliness, evidenced by a price-to-income ratio of 2.95, which sits below the national average of 3.20. The rent burden stands at 15.5% of household income, also under the national benchmark of 17.2%, indicating that both ownership and rental costs remain manageable relative to local earnings. The price-to-rent ratio of 19.0 is nearly identical to the national average of 18.7, suggesting that the financial trade-off between buying and renting is standard for the region. This affordability is supported by a median household income of $93,186, which exceeds the national average by 37.0%, providing robust purchasing power for residents. The market has experienced significant appreciation, with median home values rising from $161,800 in 2017 to $274,800 in 2024. This trajectory includes a peak year-over-year increase of 20.6% in 2022, which has since moderated to 6.5% in 2024. Recent FHFA HPI data confirms this stabilization, showing a 5.56% year-over-year gain in 2025, outperforming the Indiana state average of 3.45% by 2.11 percentage points. A notable pattern emerges in the divergence between asset classes; while home values have surged, the median gross rent of $1,203 remains relatively stable, resulting in home values rising faster than rents. This dynamic suggests that the primary driver of housing costs is capital appreciation rather than immediate rental pressure. Regional context highlights Hancock County’s premium position, with home values 43.2% above the state average and 20.7% above the national mean. This premium is justified by strong economic fundamentals, including a net migration inflow of 2,342 filers between 2021 and 2022, driven by an average incoming income of $88,984. Local employment supports this demand, with 25,187 jobs and an average weekly wage of $1,138. Housing supply remains active, with 1,212 new units authorized in 2025, predominantly single-family homes. However, the 7.40% national mortgage rate continues to exert pressure on buyer qualification, even as local affordability metrics remain favorable. Potential buyers benefit from high income levels and moderate price-to-income ratios, while renters face standard burden levels. The combination of strong in-migration and consistent, albeit slowing, price growth indicates a resilient market structure that maintains value without the extreme volatility seen in other regions.
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💰 Mortgage Guide → 🧾 Property Tax Data →How Hancock County Compares
| Metric | Hancock County | Indiana Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $274,800 | $191,898 | $227,706 |
| Median Gross Rent | $1,203 | $910 | $968 |
| Owner Occupancy Rate | 79.5% | 76.3% | 73.3% |
| Price/Rent Ratio | 19.0 | 17.5 | 18.7 |
Market Analysis
The median home value in Hancock County is 43.2% above the Indiana state average and 20.7% above the U.S. national average. The median rent of $1,203/month is 32.2% above the state average.
With a price-to-rent ratio of 19.0, the buy-vs-rent decision in Hancock County is balanced. Whether buying or renting makes more sense depends on your time horizon, down payment capacity, and local market conditions.
Hancock County has an owner-occupancy rate of 79.5%, compared to 76.3% in Indiana and 73.3% nationally. This indicates a more homeowner-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Christian County | Missouri | $274,900 | $1,058 |
| Denali Borough | Alaska | $275,000 | $825 |
| Bear Lake County | Idaho | $275,000 | $632 |
| Dunn County | North Dakota | $275,000 | $922 |
| Rio Blanco County | Colorado | $274,400 | $919 |
Other Counties in Indiana
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Brown County | $269,100 | $895 | 86.6% |
| Porter County | $281,500 | $1,219 | 77.7% |
| Johnson County | $284,600 | $1,271 | 72.7% |
| Monroe County | $285,200 | $1,193 | 54.0% |
| LaGrange County | $255,900 | $839 | 83.0% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).