Elkhart, Indiana Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Elkhart, Indiana rental market.
Elkhart, Indiana
Average Apartment Rent
$1,034
Y-o-Y Change in Average
Apartment Rent
2.1%
As of July 2024
Compared to a year ago, Elkhart, Indiana apartments have recorded a 2.1% rent increase.
Elkhart, Indiana |Average apartment rent trend
Elkhart, Indiana| Average apartment rent
Elkhart, Indiana | Apartment rent ranges
At 51.43%, apartments priced $1,000 - $1,500 represent the bulk of Elkhart, Indiana rentals, while condos priced Over $2,000 hold the lowest share of the market – 0.15%.
Elkhart, Indiana | Housing tenure**
Renters take up 47% of Elkhart, Indiana real estate, occupying a total of 10,143 units, while homeowners live in 11,232 properties.
Median number of rooms of renter-occupied housing units**
4.2
Renter median household income**
$34,143
Average household size of renter-occupied housing units**
2.39
Rental vacancy rate**
9.4%
Elkhart, Indiana | Renter-occupied housing units by no. of bedrooms**
There are 4,289 rentals in Elkhart, Indiana with 2 beds making up the highest share of the market, at 42%. Units with 5 or more beds, on the other hand, hold the lowest percentage (1%), amounting to 62 units. Overall, the median number of rooms in Elkhart, Indiana homes for rent is 4.2.
Elkhart, Indiana |Renter-occupied units by age of householder**
Most condos for rent in Elkhart, Indiana are occupied by residents in the 25 - 34 years age group (25%), followed by those in the 45 - 54 years age group (20%). At the same time, people in the 75 - 84 years age group make up the lowest share of the local rental market – 3%.
Elkhart, Indiana | Renter-occupied housing units by family type**
Elkhart, Indiana | Renter-occupied housing units by the presence of own children**
A total of 4,732 apartments for rent in Elkhart, Indiana, or 47% of all rentals are family households. Additionally, 34% of rental homes include children under the age of 18 – that’s 3,439 units. All in all, the median size of a renter-occupied household in Elkhart, Indiana is 2.39.
Elkhart, Indiana | Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 13% of the rental market. In contrast, residents with less than a high school degree reside in 18% of the homes for rent in Elkhart, Indiana.
Elkhart, Indiana | Renter-occupied units by year structure built**
The highest share of Elkhart, Indiana apartment rentals, namely 23% or 2,342 units, were Built 1970 - 1979, followed by those Built 1980 - 1989 (16%, 1,623 units), and the ones Built 1939 or earlier (15%, 1,482 units).
Elkhart, Indiana | Renter-occupied units by year householder moved in**
Median year renter moved into unit2017
Most Elkhart, Indiana renters (46%) moved in 2010 to 2017, while only 2% of them moved in 1990 to 1999. Overall, the median year renters have occupied their Elkhart, Indiana condos for rent is 2017.
Elkhart, Indiana | Renter-occupied housing units by vehicles available**
When it comes to transportation options, 48% of Elkhart, Indiana renters have 1 vehicle available per household, 27% of them have 2 vehicles available, and 19% have No vehicle available.
Elkhart, Indiana | Means of transportation to work of householders living in renter-occupied housing units**
Elkhart, Indiana |Geographical mobility in the past year for householders living in renter-occupied housing units**
Elkhart, Indiana | Average apartment rent by zip codes
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Elkhart, Indiana apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
