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Best Cities for Homeownership in Indiana-Full Ranking

June 5, 2014
Home Search, Mortgages
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<iframe src=”https://docs.google.com/spreadsheets/d/1OQ7I3QNqFVagLPyb77XOljKOx8WTuOMQRrOl5Q58tXA/pubhtml?widget=true&amp;headers=false”></iframe>

Rank City Homeownership Rate Median Selected Monthly Homeowner Costs Median Monthly Household Income Homeowner Costs as % of Household Income Median Home Value 2012 Population 2010 Population 2010-2012 Population Growth
1 Kokomo 63.5% $940 $3,108 30.2% $84,000 54,402 45,886 18.6%
2 St. John 95.9% $1,771 $8,156 21.7% $254,600 14,753 13,733 7.4%
3 Granger 96.8% $1,491 $7,594 19.6% $192,700 29,302 28,365 3.3%
4 Avon 83.4% $1,460 $6,038 24.2% $171,000 12,542 11,653 7.6%
5 Brownsburg 81.5% $1,326 $5,435 24.4% $146,000 21,749 20,573 5.7%
6 Fishers 83.0% $1,659 $7,713 21.5% $209,500 76,835 71,746 7.1%
7 New Haven 74.2% $1,003 $4,054 24.7% $93,800 14,624 13,857 5.5%
8 Noblesville 74.1% $1,423 $5,681 25.1% $168,300 52,987 48,712 8.8%
9 Dyer 93.6% $1,516 $6,573 23.1% $197,500 16,283 15,957 2.0%
10 Cedar Lake 82.1% $1,343 $4,924 27.3% $151,400 11,484 11,136 3.1%
11 Crown Point 78.2% $1,430 $5,406 26.5% $174,900 27,477 26,078 5.4%
12 Plainfield 73.5% $1,267 $4,732 26.8% $147,400 27,912 26,643 4.8%
13 Jeffersonville 67.0% $1,132 $4,231 26.8% $127,300 44,683 42,148 6.0%
14 Decatur 71.8% $871 $3,512 24.8% $90,300 10,062 9,901 1.6%
15 Jasper 72.0% $1,108 $4,391 25.2% $126,900 14,982 14,572 2.8%
16 Greenfield 68.8% $1,135 $4,062 27.9% $121,800 20,545 19,732 4.1%
17 Greenwood 62.6% $1,222 $4,633 26.4% $131,700 50,457 47,565 6.1%
18 Washington 66.1% $838 $3,519 23.8% $74,500 11,552 11,411 1.2%
19 Franklin 61.4% $1,147 $4,102 28.0% $118,600 23,857 22,508 6.0%
20 Munster 85.2% $1,569 $5,892 26.6% $197,600 23,460 23,254 0.9%
21 Lawrence 70.5% $1,212 $4,285 28.3% $129,100 45,779 44,424 3.1%
22 Auburn 71.8% $1,012 $3,332 30.4% $108,800 12,760 12,482 2.2%
23 Hobart 71.6% $1,262 $4,539 27.8% $134,400 28,933 28,389 1.9%
24 Highland 77.5% $1,311 $5,161 25.4% $155,200 23,646 23,710 (0.3%)
25 Portage 71.8% $1,248 $4,302 29.0% $137,700 36,781 36,291 1.4%
26 Chesterton 70.8% $1,500 $5,349 28.0% $174,500 13,571 13,154 3.2%
27 Schererville 76.9% $1,494 $5,667 26.4% $204,300 29,024 28,478 1.9%
28 Carmel 78.8% $1,995 $8,959 22.3% $293,600 80,060 76,771 4.3%
29 Peru 65.8% $756 $2,741 27.6% $61,700 11,475 11,563 (0.8%)
30 Merrillville 67.5% $1,280 $4,456 28.7% $132,600 35,201 34,428 2.2%
31 Greensburg 59.9% $944 $3,531 26.7% $108,900 11,527 11,190 3.0%
32 Huntington 67.0% $880 $2,956 29.8% $77,000 17,385 17,479 (0.5%)
33 Columbus 64.6% $1,192 $4,380 27.2% $142,800 44,306 43,314 2.3%
34 Fort Wayne 64.1% $984 $3,717 26.5% $100,200 253,617 253,721 (0.0%)
35 Lake Station 71.9% $1,044 $3,080 33.9% $82,400 12,596 12,833 (1.8%)
36 Logansport 64.7% $821 $2,746 29.9% $65,800 17,855 18,098 (1.3%)
37 Goshen 62.7% $998 $3,435 29.1% $108,100 31,569 31,261 1.0%
38 Vincennes 61.0% $867 $2,969 29.2% $77,800 18,374 18,369 0.0%
39 Wabash 65.9% $817 $2,825 28.9% $79,100 10,644 10,847 (1.9%)
40 Seymour 59.5% $958 $3,451 27.8% $104,200 18,137 17,922 1.2%
41 Warsaw 60.4% $1,040 $3,611 28.8% $117,900 13,620 13,381 1.8%
42 New Castle 60.8% $827 $2,634 31.4% $68,500 18,066 18,206 (0.8%)
43 Frankfort 59.1% $964 $3,208 30.1% $82,900 16,433 16,459 (0.2%)
44 Griffith 66.9% $1,293 $4,435 29.2% $141,600 16,875 16,959 (0.5%)
45 Terre Haute 56.9% $848 $2,662 31.9% $75,700 60,850 60,440 0.7%
46 La Porte 61.6% $975 $3,075 31.7% $93,000 22,077 22,192 (0.5%)
47 Lebanon 63.2% $1,104 $3,730 29.6% $113,600 15,630 15,769 (0.9%)
48 Bedford 60.4% $899 $2,835 31.7% $86,500 13,436 13,516 (0.6%)
49 Crawfordsville 56.8% $917 $3,070 29.9% $92,700 15,958 15,893 0.4%
50 Greencastle 62.3% $1,092 $3,402 32.1% $108,100 10,343 10,357 (0.1%)
51 Anderson 60.6% $941 $2,936 32.1% $74,500 56,097 56,767 (1.2%)
52 Madison 59.6% $1,056 $3,481 30.3% $114,400 12,048 11,986 0.5%
53 Hammond 63.4% $1,086 $3,223 33.7% $94,800 80,658 81,312 (0.8%)
54 Connersville 61.2% $878 $2,495 35.2% $67,600 13,479 13,616 (1.0%)
55 South Bend 60.3% $933 $2,849 32.8% $86,400 101,282 102,073 (0.8%)
56 Plymouth 58.5% $921 $2,808 32.8% $89,600 10,045 10,044 0.0%
57 Evansville 54.2% $968 $2,996 32.3% $90,500 119,226 118,186 0.9%
58 Martinsville 57.8% $980 $3,165 31.0% $102,800 11,890 11,936 (0.4%)
59 Lafayette 50.9% $988 $3,257 30.3% $102,400 67,302 66,148 1.7%
60 Indianapolis 56.2% $1,171 $3,512 33.3% $119,900 822,006 809,804 1.5%
61 Michigan City 57.8% $992 $3,010 33.0% $93,200 31,442 31,613 (0.5%)
62 Beech Grove 56.2% $1,042 $3,358 31.0% $95,000 13,949 14,027 (0.6%)
63 Marion 55.8% $792 $2,555 31.0% $65,500 30,088 30,703 (2.0%)
64 Richmond 56.4% $918 $2,739 33.5% $85,200 36,836 37,125 (0.8%)
65 New Albany 56.3% $1,060 $3,279 32.3% $112,800 36,450 36,434 0.0%
66 Muncie 51.8% $840 $2,531 33.2% $74,000 70,033 70,017 0.0%
67 Mishawaka 51.6% $976 $3,083 31.7% $94,100 48,107 47,891 0.5%
68 Valparaiso 58.8% $1,348 $4,182 32.2% $165,200 31,347 30,990 1.2%
69 Clarksville 61.6% $1,022 $3,561 28.7% $113,600 22,122 22,947 (3.6%)
70 Shelbyville 55.5% $1,074 $3,236 33.2% $95,000 18,682 18,877 (1.0%)
71 Elkhart 53.1% $942 $2,885 32.7% $88,000 51,293 51,837 (1.0%)
72 Speedway 47.9% $1,127 $3,510 32.1% $122,300 11,862 11,931 (0.6%)
73 Gary 53.4% $1,041 $2,246 46.3% $66,900 81,153 84,407 (3.9%)
74 East Chicago 44.1% $1,152 $2,264 50.9% $86,800 29,789 30,218 (1.4%)
75 Bloomington 33.9% $1,202 $2,260 53.2% $173,200 80,440 78,490 2.5%
76 West Lafayette 33.6% $1,449 $2,548 56.9% $174,300 30,047 29,344 2.4%

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Methodology

The score for each city was derived from each of these measures:

1. Homeownership rate made up 33.3% of the total score. A higher rate earned a higher score. The rate comes from the U.S. Census American Community Survey 5-year Estimates for all places in the state, Table DP 04.

2. Selected monthly owner costs as a percentage of median household income made up 16.7% of the total score. A lower percentage earned a higher score. Monthly homeowner costs as a percentage of median household income made up one-half of the affordability score. Median household income comes from the U.S. Census American Community Survey 5-year Estimates for all places in the state, Table DP 03. The figure for monthly homeowner costs comes from the U.S. Census American Community Survey 5-year Estimates for all places in the state, Table DP 04.

3. Median home value made up 16.7% of the total score. A lower value earned a higher score. Median home value made up one-half of the affordability score. Median home value comes from the U.S. Census American Community Survey 5-year Estimates for all places in the state, Table DP 04.

4. Population change from 2010 to 2012 made up 33.3% of the total score. A higher percent change earned a higher score. The 2010 population comes from the 2010 American Community Survey 5-Year Estimates for all places in the state, Table DP 05. The 2012 population data comes from the 2012 American Community Survey 5-Year Estimates for all places in the state, Table DP 05. NerdWallet calculated the percent change.

Only places with 10,000 or more residents were included in this study. Purdue University, a census-designated place, and Westfield were excluded because of a lack of data for all three variables. Zionsville was excluded due to inconsistent population data reporting from 2010 to 2012.

Image: Ben Clark/Flickr: https://flic.kr/p/3bwz