Warsaw, IN Housing Market

Market Overview

Warsaw, IN is a strong market, with a PropertyIQ Score of 76/100. Top score drivers include 12-month home value momentum of 10.99%, 3-month home value momentum of 1.40%, median days on market of 46, and a 25.6% share of listings with a price cut. Compared with state benchmarks, Warsaw outperforms Indiana on several key measures. Median home value is $295,145 versus the state average of $260,808, rent index is $1,287 versus $1,020, and median household income is $73,922 versus $70,051. Unemployment is 3.3%, equal to the state average.

This combination points to an above-average but not extreme market. A 46-day median time on market indicates steady demand, while the 25.6% price-cut share suggests buyers retain some negotiating power. The reported home value year-over-year figure is $6, which is inconsistent with the 10.99% 12-month momentum; this should be read cautiously. Population growth is reported as N/A, so demand cannot be fully assessed. Still, the available data supports a solid, balanced market rather than a weak or overheated one.

Key Trends

First, home value momentum is strong but cooling. The 12-month momentum of 10.99% is the top score driver, and the 3-month momentum of 1.40% is positive, though slower. Median home value of $295,145 sits well above the state median of $260,808, reinforcing local price strength. The $6 year-over-year value change remains an outlier in the dataset and is difficult to reconcile with the momentum percentages.

Second, rents are notably above the state norm. The rent index of $1,287 exceeds the state average of $1,020 by about 26%. This supports landlord cash flow and suggests relative rental demand. Using the provided median home value and rent index, the implied gross annual rental yield is roughly 5.2%.

Third, inventory and pricing behavior indicate balance. With 200 homes for sale, a median of 46 days on market, and 25.6% of listings cutting price, Warsaw shows neither a severe shortage nor a buyer’s market. These metrics point to steady turnover with room for negotiation.

Fourth, affordability is slightly tighter than the state norm. Median household income of $73,922 is above the state’s $70,051, but the price-to-income ratio based on the provided medians is about 4.0, compared with roughly 3.7 for the state. This keeps Warsaw relatively attainable but less so than the typical Indiana market.

Who Is This Market For

This market suits move-up buyers and current owners seeking appreciation, given the 12-month home value momentum of 10.99% and a 76/100 PropertyIQ Score. The median home value of $295,145 is above the state average, so first-time buyers may face a higher entry price, but median household income of $73,922 and a 25.6% price-cut share provide some support and negotiating opportunity. Buyers who prefer a balanced market with a 46-day median days on market may find Warsaw appealing.

Investors may be drawn to the rent index of $1,287, which is well above the state average of $1,020. Based on the provided figures, the implied gross rental yield is around 5.2%. This, combined with above-average home value momentum, suggests a market where rental income and equity growth can both play a role. However, the lack of population growth data means long-term demand cannot be confirmed. Move-up buyers and investors seeking an above-average Indiana market with steady, not speculative, conditions are likely the best fit.

Outlook

Warsaw’s near-term outlook is cautiously positive based on the available data. The 12-month home value momentum of 10.99% supports upward price pressure, while the 3-month reading of 1.40% suggests that pace may be moderating. A median of 46 days on market and a 25.6% price-cut share point to a balanced market rather than an accelerating one. With 200 homes for sale and unemployment at 3.3% matching the state average, the underlying supply and employment conditions are stable. Median household income of $73,922, above the state average of $70,051, further supports local demand. The rent index of $1,287, well above the state average, may continue to attract investors. Given the current trend data, Warsaw appears positioned for continued but likely gradual value growth, assuming inventory and price-cut levels remain stable. The $6 reported year-over-year home value change remains a data discrepancy to monitor.