Market Overview
Home Prices in Spring Grove, IN
The median home value in Spring Grove, IN is $184,761 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 11.3% compared to a year ago and up 10.5% from two years prior.
Compared to the U.S. national median of $410,000, homes in Spring Grove are priced55% below average. Spring Grove is part of the Richmond, IN metro area.
Over the past five years, Spring Grove home values have risen by approximately53.6%, reflecting strong long-term appreciation in this market.
Price History
Spring Grove Home Price Trend
City Comparison
Spring Grove vs. National Median
At $184,761, homes in Spring Grove cost 55% below the national median of $410,000. This makes Spring Grove a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Spring Grove?
20% Down Payment
$36,952
on $184,761
Monthly P&I
$964/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,224/mo
incl. taxes & insurance
Income Needed
$48,960
gross annual (30% rule)
10% Down Option
$18,476
+ PMI applies
Loan Amount (20% dn)
$147,809
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 Spring Grove, IN?
The median home value in Spring Grove is $184,761 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 11.3% year-over-year.
How much have home prices changed in Spring Grove?
Over the past year, home values in Spring Grove have increased by 11.3%. Over five years, prices have risen approximately 53.6%.
How much do I need to earn to buy a home in Spring Grove?
To comfortably afford the median home price of $184,761 with a 20% down payment ($36,952) at today's rates (6.8%), you'd need a gross annual income of approximately $48,960. This assumes keeping total housing costs at or below 30% of gross income.
How does Spring Grove compare to the national average home price?
The national median home value is approximately $410,000. At $184,761, homes in Spring Grove are 55% below the national average.
What metro area is Spring Grove part of?
Spring Grove is part of the Richmond, IN metropolitan area. Home prices and market conditions can vary across the broader metro region.