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Nappanee city, IN

ZIP 46550 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Middle ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 46550

Median Home Value
$232,300
Median Rent
$756
Affordability Snapshot
$64,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$1,492/mo PITI).

11%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

2.9x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

25.6 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 46550 in Nappanee city, IN, a household would need roughly $64,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $1,492. That sits below the local median household income ($80,403), suggesting the typical household income is closer to a workable buy-in level under these assumptions. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Owner-occupied majority; balanced tenure mix.

Heating Fuel
Housing Metrics
Owner Occupied
70.4%+8% vs US avg
x
Vacancy Rate
6.9%-33% vs US avg
x
Broadband Access
76.4%-12% vs US avg
x
4+ Bedrooms
14.1%-5% vs US avg
x
Built Pre-1939
4.4%-66% vs US avg
x
Built Post-2014
2.8%-60% vs US avg
x
Rent Burden >30%
19.2%-61% vs US avg
x
Mortgage-Free
32.7%-14% vs US avg
x
$232,300
Home Value
$756
Rent
1983
Year Built
2014
Moved In

Residents have lived here since ~2014 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached71.3%
  • 1-unit attached4.8%
  • 2-9 units12.2%
  • 10+ units1.7%
  • Mobile home & other10.0%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$232,300
Median rent$756
Owner-occupied70.4%
Vacant6.9%
Price-to-income2.9x
Est. income to buy$64,000