Jasper, IN Housing Market

Market Overview

Jasper, IN presents as a strong residential market with a PropertyIQ Score of 82 out of 100. The score is supported by solid home value momentum: 9.01% over the past 12 months and 0.46% over the past three months, along with a median days-on-market figure of 48 days and an 18.7% share of listings with price cuts. Compared with statewide benchmarks, Jasper’s median home value of $247,297 is below the state average of $260,095, while its rent index of $1,367 is well above the state average of $1,062. The unemployment rate matches the state at 3.3%, and the median household income of $75,979 sits above the state average of $71,957.

The combination of below-average home values and above-average incomes suggests relative affordability for local buyers. At the same time, the rent index premium points to an unusually strong rental market compared with the rest of the state. The median of 48 days on market and the 18.7% price-cut share indicate a market that is active but not overheated; homes are selling within a reasonable timeframe, and sellers are still making some adjustments. Inventory is reported at 74 homes for sale. Population growth is not provided, so that piece of the demand picture is unavailable.

The provided year-over-year home value change of $14 is not meaningful as a standalone figure, so this analysis uses the reported 12-month home value momentum of 9.01% as the clearest annual appreciation signal. Overall, Jasper’s PropertyIQ Score of 82 places it above the broad middle of the market, with particular strength in rental dynamics and relative affordability.

Key Trends

First, price movement is positive but may be cooling. The 12-month home value momentum of 9.01% shows meaningful annual appreciation, while the 3-month figure of 0.46% is much more modest. This gap suggests that the faster pace of annual gains has not carried into the most recent quarter at the same rate. The share of listings with a price cut, at 18.7%, also points to some softening in seller leverage, though it is not high enough to signal distress.

Second, inventory and market pace remain balanced. With 74 homes for sale and a median of 48 days on market, properties are not lingering for extended periods. The 48-day median suggests steady demand, while the 18.7% price-cut share indicates that some sellers are adjusting expectations to attract buyers. This mix typically supports a market that favors neither extreme buyer nor seller advantage.

Third, rental fundamentals stand out. Jasper’s rent index of $1,367 is $305 higher than the state average of $1,062. That premium is notable because the median home value is below the state average. For investors, this combination may offer better income potential relative to purchase price than many other Indiana markets with lower rents.

Fourth, affordability metrics are favorable relative to the state. The median home value of $247,297 is below the state average of $260,095, and the median household income of $75,979 is above the state average of $71,957. With unemployment equal to the state rate at 3.3%, the local economy appears stable enough to support housing demand.

Who Is This Market For

Jasper is well suited to first-time buyers. The median home value of $247,297 is more attainable than the state average of $260,095, while the median household income of $75,979 is above the state average of $71,957. The 48-day median time on market means buyers have some time to evaluate homes without the intense pressure of a rapidly moving market, and the 18.7% price-cut share creates opportunities to negotiate.

Rental property investors are another natural fit. The rent index of $1,367 is significantly above the state average of $1,062, which suggests strong tenant demand or the ability to command higher rents. Combined with a median home value below the state average and 12-month home value momentum of 9.01%, Jasper offers a case for both income and appreciation-oriented investment. The 3-month momentum of 0.46% suggests investors should not expect rapid short-term flips, but longer-term holding may be supported by the rental premium.

Move-up buyers may also find Jasper attractive because of its stable employment picture and above-state-average income levels. However, with 74 homes for sale, choices could be limited, and the 18.7% price-cut share suggests some sellers are flexible. Buyers relying on population-driven demand should note that population growth data is not available.

Outlook

The data supports a generally stable outlook for Jasper, with moderating near-term price gains. The 12-month home value momentum of 9.01% shows strong trailing appreciation, but the 3-month figure of 0.46% points to slower recent growth. Inventory of 74 homes for sale and a median of 48 days on market remain consistent with steady demand, which may help support prices. The rent index of $1,367 above the state average and an unemployment rate of 3.3% underpin both rental and ownership demand. At the same time, the 18.7% share of listings with price cuts indicates that sellers may need to remain flexible. Because population growth is not provided, the longer-term demand trajectory cannot be fully assessed from the available data. Overall, Jasper appears positioned for continued strength, though the near-term pace of appreciation is likely to be more measured than the trailing 12-month rate suggests.