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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.



Wabash, 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

Wabash, IN Housing Market Trends

With a population of 10,347, 4,511 total housing units (homes and apartments), and a median house value of $149,612, house prices in Wabash are some of the most affordable in Indiana as well as the nation.

Single-family detached homes are the single most common housing type in Wabash, accounting for 78.24% of the city's housing units. Other types of housing that are prevalent in Wabash include duplexes, homes converted to apartments or other small apartment buildings ( 10.29%), large apartment complexes or high rise apartments ( 9.56%), and a few row houses and other attached homes ( 1.53%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Wabash. Owner-occupied housing accounts for 69.26% of Wabash's homes, and 58.78% have either three or four bedrooms, which is average sized relative to America.

The housing in Wabash was primarily built before 1939 ( 34.51%), making the housing stock in Wabash some of the oldest overall in America, although there is a range of ages of homes in Wabash. The next most important housing age is between 1940-1969 ( 33.53%), followed by between 1970-1999 ( 27.12%). There's also some housing in Wabash built between 2000 and later ( 4.84%).

Vacant housing appears to be an issue in Wabash. Fully 10.18% of the housing stock is classified as vacant. Left unchecked, vacant Wabash homes and apartments can be a drag on the real estate market, holding Wabash 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.

Wabash Home Appreciation Rates

Wabash's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Wabash during the period has been just 5.22%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Wabash's appreciation rate, at 5.00%, has been at or slightly above the national average. In the latest quarter, Wabash's appreciation rate has been -1.49%, which annualizes to a rate of -5.81%.

Notably, Wabash's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Indiana, our data show that Wabash's latest annual appreciation rate is higher than 60% of the other cities and towns in Indiana.

Average Home Values

Median Home Value

$149,612

Wabash, IN Home Prices
> $1,286,000
$965,001 - $1,286,000
$643,001 - $965,000
$514,001 - $643,000
$386,001 - $514,000
$258,001 - $386,000
$129,001 - $258,000
$64,001 - $129,000
$0 - $64,000
0.0%
0.0%
0.2%
0.2%
0.0%
0.0%
0.3%
0.3%
1.3%
1.3%
14.9%
14.9%
40.9%
40.9%
33.1%
33.1%
9.3%
9.3%
0% 100.0%
% of Homes
Very Low

for Indiana

Very Low

for nation

Number of Homes And Apartments:

4,511

Wabash Appreciation Rates

Rent & Ownership

Average Market Rent:

$844 / per month

Homeownership Rate

Owners
Renters
69.3%
69.3%
30.7%
30.7%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
10.2%
10.2%
89.8%
89.8%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
4.8%
4.8%
27.1%
27.1%
33.5%
33.5%
34.5%
34.5%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
78.2%
78.2%
1.5%
1.5%
10.3%
10.3%
9.6%
9.6%
0.2%
0.2%
0.2%
0.2%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
3.5%
3.5%
11.9%
11.9%
23.5%
23.5%
42.0%
42.0%
16.8%
16.8%
2.3%
2.3%
0% 100.0%
% of Homes