Market Overview
Home Prices in Waveland, IN
The median home value in Waveland, IN is $250,233 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 8.9% compared to a year ago and up 5.5% from two years prior.
Compared to the U.S. national median of $410,000, homes in Waveland are priced39% below average. Waveland is part of the Terre Haute, IN metro area.
Over the past five years, Waveland home values have risen by approximately42.8%, reflecting strong long-term appreciation in this market.
Price History
Waveland Home Price Trend
City Comparison
Waveland vs. National Median
At $250,233, homes in Waveland cost 39% below the national median of $410,000. This makes Waveland a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Waveland?
20% Down Payment
$50,047
on $250,233
Monthly P&I
$1,305/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,657/mo
incl. taxes & insurance
Income Needed
$66,280
gross annual (30% rule)
10% Down Option
$25,023
+ PMI applies
Loan Amount (20% dn)
$200,186
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 Waveland, IN?
The median home value in Waveland is $250,233 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 8.9% year-over-year.
How much have home prices changed in Waveland?
Over the past year, home values in Waveland have increased by 8.9%. Over five years, prices have risen approximately 42.8%.
How much do I need to earn to buy a home in Waveland?
To comfortably afford the median home price of $250,233 with a 20% down payment ($50,047) at today's rates (6.8%), you'd need a gross annual income of approximately $66,280. This assumes keeping total housing costs at or below 30% of gross income.
How does Waveland compare to the national average home price?
The national median home value is approximately $410,000. At $250,233, homes in Waveland are 39% below the national average.
What metro area is Waveland part of?
Waveland is part of the Terre Haute, IN metropolitan area. Home prices and market conditions can vary across the broader metro region.