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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Hobart, IN Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Hobart, IN Housing Market Trends

With a population of 29,458, 12,023 total housing units (homes and apartments), and a median house value of $238,142, house prices in Hobart are solidly below the national average.

Single-family detached homes are the single most common housing type in Hobart, accounting for 73.46% of the city's housing units. Other types of housing that are prevalent in Hobart include large apartment complexes or high rise apartments ( 19.36%), row houses and other attached homes ( 3.32%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.48%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Hobart. Owner-occupied housing accounts for 71.04% of Hobart's homes, and 60.60% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Hobart built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Hobart built between 1940-1969 ( 33.27%). A lesser amount of the housing stock also hails from between 2000 and later ( 17.08%). There's also some housing in Hobart built before 1939 ( 11.18%).

Hobart Home Appreciation Rates

Real estate appreciation rates in Hobart's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.05% during the period.

Over the last year, Hobart appreciation rates have trailed the rest of the nation. In the last twelve months, Hobart's appreciation rate has been 4.77%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Hobart were at 0.21%, which equates to an annual appreciation rate of 0.86%.

Relative to Indiana, our data show that Hobart's latest annual appreciation rate is lower than 70% of the other cities and towns in Indiana.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Hobart differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Hobart - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Hobart real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$238,142

Hobart, IN Home Prices
> $1,294,000
$971,001 - $1,294,000
$647,001 - $971,000
$517,001 - $647,000
$388,001 - $517,000
$259,001 - $388,000
$130,001 - $259,000
$65,001 - $130,000
$0 - $65,000
0.4%
0.4%
0.0%
0.0%
0.8%
0.8%
1.7%
1.7%
5.7%
5.7%
35.6%
35.6%
44.0%
44.0%
8.6%
8.6%
3.2%
3.2%
0% 100.0%
% of Homes
High

for Indiana

Average

for nation

Number of Homes And Apartments:

12,023

Hobart Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,916 / per month

Homeownership Rate

Owners
Renters
71.0%
71.0%
29.0%
29.0%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
6.4%
6.4%
93.6%
93.6%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
17.1%
17.1%
38.5%
38.5%
33.3%
33.3%
11.2%
11.2%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
73.5%
73.5%
3.3%
3.3%
2.5%
2.5%
19.4%
19.4%
1.4%
1.4%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
2.0%
2.0%
9.5%
9.5%
24.6%
24.6%
42.4%
42.4%
18.2%
18.2%
3.2%
3.2%
0% 100.0%
% of Homes