Market Overview
Home Prices in Hobart, IN
The median home value in Hobart, IN is $246,732 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 0.8% compared to a year ago and up 2.2% from two years prior.
Compared to the U.S. national median of $410,000, homes in Hobart are priced40% below average. Hobart is part of the Chicago-Naperville-Elgin, IL-IN-WI metro area.
Over the past five years, Hobart home values have risen by approximately27.8%, reflecting strong long-term appreciation in this market.
Price History
Hobart Home Price Trend
City Comparison
Hobart vs. National Median
At $246,732, homes in Hobart cost 40% below the national median of $410,000. This makes Hobart a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Hobart?
20% Down Payment
$49,346
on $246,732
Monthly P&I
$1,287/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,634/mo
incl. taxes & insurance
Income Needed
$65,360
gross annual (30% rule)
10% Down Option
$24,673
+ PMI applies
Loan Amount (20% dn)
$197,386
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Hobart, IN?
The median home value in Hobart is $246,732 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 0.8% year-over-year.
How much have home prices changed in Hobart?
Over the past year, home values in Hobart have increased by 0.8%. Over five years, prices have risen approximately 27.8%.
How much do I need to earn to buy a home in Hobart?
To comfortably afford the median home price of $246,732 with a 20% down payment ($49,346) at today's rates (6.8%), you'd need a gross annual income of approximately $65,360. This assumes keeping total housing costs at or below 30% of gross income.
How does Hobart compare to the national average home price?
The national median home value is approximately $410,000. At $246,732, homes in Hobart are 40% below the national average.
What metro area is Hobart part of?
Hobart is part of the Chicago-Naperville-Elgin, IL-IN-WI metropolitan area. Home prices and market conditions can vary across the broader metro region.