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Housing Affordability

Home price and typical payment compared to income

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Housing Affordability • Elkhart County • May 2026

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Affordability

Payment as a Percent of Income

Based on 3-mo. median sale price
May 2026
36.4%
Year-over-year change
+9%
Compared to 33.3% last year
Difference from state
+2%
Compared to 35.8% in Indiana
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May 2026
36.4%
Year-over-year change
+9%
Compared to 33.3% last year
Difference from state
+2%
View source and notes...

Last update: June 7, 2026, 4:13 a.m. Source: IAR Data Warehouse / American Community Survey Data notes: Assumes 10% down payment, 0.77% tax rate, 0.83% insurance rate, 0.79% PMI rate. Interest rates are based on the national 4-week rolling average.

Affordable Listings

Pct. of listings in last 90 days affordable to household earning $75K
May 2026
35.4%
Year-over-year change
-14%
Compared to 41.1% last year
Difference from state
-4%
Compared to 36.9% in Indiana
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May 2026
35.4%
Year-over-year change
-14%
Compared to 41.1% last year
Difference from state
-4%
View source and notes...

Last update: June 7, 2026, 4:03 a.m. Source: IAR Data Warehouse Data notes: Assumes 10% down payment, 0.77% tax rate, 0.83% insurance rate, 0.79% PMI rate. Interest rates are based on the national 4-week rolling average.

Demographics

Median Household Income

Adjusted to current dollars
January 2025
$68,086
Year-over-year change
+7%
Compared to $63,780 last year
Difference from state
-3%
Compared to $69,976 in Indiana
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January 2025
$68,086
Year-over-year change
+7%
Compared to $63,780 last year
Difference from state
-3%
View source and notes...

Last update: June 7, 2026, 4:13 a.m. Source: American Community Survey and Bureau of Labor Statistics Employment Cost Index Data notes: The most recent income measure from the American Community Survey is adjusted by two-year change in the Employment Cost Index to adjust to current dollars.

Market Momentum

Price

Median Monthly Payment

For median-priced home
May 2026
$2,066
Year-over-year change
+9%
Compared to $1,889 last year
Difference from state
-1%
Compared to $2,085 in Indiana
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May 2026
$2,066
Year-over-year change
+9%
Compared to $1,889 last year
Difference from state
-1%
View source and notes...

Last update: June 7, 2026, 4:03 a.m. Source: IAR Datawarehouse Data notes: Assumes 10% down payment, 0.77% tax rate, 0.83% insurance rate, 0.79% PMI rate. Interest rates are based on the national 4-week rolling average.

Median Sale Price

3-Month Rolling Median
May 2026
$272,500
Year-over-year change
+13%
Compared to $242,000 last year
Difference from state
-1%
Compared to $275,000 in Indiana
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May 2026
$272,500
Year-over-year change
+13%
Compared to $242,000 last year
Difference from state
-1%
View source and notes...

Last update: June 7, 2026, 4:03 a.m. Source: IAR Data Warehouse Data notes: -

Sales

Closed Sales by Price

12-month rolling total
All properties, June 2026
1,874
+4%
Under $250K
836
-12%
At Least $250K
1,038
+23%
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All properties, June 2026
1,874
+4%
Under $250K
836
-12%
At Least $250K
1,038
View source and notes...

Last update: June 7, 2026, 4:55 a.m. Source: IAR MLS Data Warehouse Data notes: None

Supply

New Listings by Price

12-month rolling total
All properties, June 2026
2,264
+3%
Under $250K
901
-15%
At Least $250K
1,367
+20%
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All properties, June 2026
2,264
+3%
Under $250K
901
-15%
At Least $250K
1,367
View source and notes...

Last update: June 7, 2026, 4:55 a.m. Source: IAR MLS Data Warehouse Data notes: None

Inventory by Price

Average daily inventory in latest month
All properties, June 2026
308
+6%
Under $250K
85
-10%
At Least $250K
223
+13%
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All properties, June 2026
308
+6%
Under $250K
85
-10%
At Least $250K
223
View source and notes...

Last update: June 7, 2026, 4:55 a.m. Source: IAR MLS Data Warehouse Data notes: None

Contact

Indiana Association of REALTORS®
143 W Market St, Ste 100
Indianapolis, IN 46204
Phone: 1.800.284.0084

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