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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.



Mishawaka, 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 Q3 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2021 (latest available). Updated annually.

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

Mishawaka, IN Housing Market Trends

With 50,913 people, 22,693 houses or apartments, and a median cost of homes of $163,770, house prices in Mishawaka are solidly below the national average.

Single-family detached homes are the single most common housing type in Mishawaka, accounting for 49.93% of the city's housing units. Other types of housing that are prevalent in Mishawaka include large apartment complexes or high rise apartments ( 31.87%), duplexes, homes converted to apartments or other small apartment buildings ( 9.47%), and a few row houses and other attached homes ( 5.33%).

People in Mishawaka primarily live in small (one, two or no bedroom) single-family detached homes. Mishawaka has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Mishawaka 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 Mishawaka built between 1940-1969 ( 25.70%). A lesser amount of the housing stock also hails from before 1939 ( 16.30%). There's also some housing in Mishawaka built between 2000 and later ( 16.18%).

Vacant housing appears to be an issue in Mishawaka. Fully 10.29% of the housing stock is classified as vacant. Left unchecked, vacant Mishawaka homes and apartments can be a drag on the real estate market, holding Mishawaka real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Mishawaka Home Appreciation Rates

Appreciation rates for homes in Mishawaka have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 95.73%, which ranks in the top 40% nationwide. This equates to an annual average Mishawaka house appreciation rate of 6.95%.

NeighborhoodScout's data show that during the latest twelve months, Mishawaka's appreciation rate, at 5.72%, has been at or slightly above the national average. In the latest quarter, Mishawaka's appreciation rate has been 4.12%, which annualizes to a rate of 17.52%.

Relative to Indiana, our data show that Mishawaka's latest annual appreciation rate is higher than 50% 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 Mishawaka differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Mishawaka - 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 Mishawaka real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$163,770

Mishawaka, IN Home Prices
> $1,465,000
$1,099,001 - $1,465,000
$733,001 - $1,099,000
$586,001 - $733,000
$439,001 - $586,000
$293,001 - $439,000
$147,001 - $293,000
$73,001 - $147,000
$0 - $73,000
0.3%
0.3%
0.7%
0.7%
2.2%
2.2%
0.9%
0.9%
3.1%
3.1%
14.3%
14.3%
40.1%
40.1%
33.2%
33.2%
5.2%
5.2%
0% 100.0%
% of Homes
Low

for Indiana

Low

for nation

Number of Homes And Apartments:

22,693

Mishawaka Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,693 / per month

Homeownership Rate

Owners
Renters
Vacant
48.0%
48.0%
52.0%
52.0%
10.3%
10.3%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
16.2%
16.2%
41.8%
41.8%
25.7%
25.7%
16.3%
16.3%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
49.9%
49.9%
5.3%
5.3%
9.5%
9.5%
31.9%
31.9%
3.3%
3.3%
0.1%
0.1%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
2.1%
2.1%
19.5%
19.5%
36.6%
36.6%
29.9%
29.9%
9.6%
9.6%
2.3%
2.3%
0% 100.0%
% of Homes