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Waveland town, IN

ZIP 47989 — Housing & Real Estate

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

Upper Middle ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 47989

Median Home Value
$114,900
Median Rent
$379
Affordability Snapshot
$32,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$738/mo PITI).

4%
Rent-to-Income Ratio

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

1.1x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

25.3 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 47989 in Waveland town, IN, a household would need roughly $32,000 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 $738. That sits below the local median household income ($101,369), 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

Vacancy rate 16% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
91.0%+39% vs US avg
x
Vacancy Rate
16.5%+60% vs US avg
x
Broadband Access
83.5%-4% vs US avg
x
4+ Bedrooms
5.7%-61% vs US avg
x
Built Pre-1939
3.2%-75% vs US avg
x
Built Post-2014
4.7%-32% vs US avg
x
Rent Burden >30%
2.2%-96% vs US avg
x
Mortgage-Free
32.3%-15% vs US avg
x
$114,900
Home Value
$379
Rent
1944
Year Built
2005
Moved In

Residents have lived here since ~2005 on average

Housing Structure

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

  • 1-unit detached87.7%
  • 1-unit attached1.2%
  • 2-9 units3.5%
  • 10+ units0.3%
  • Mobile home & other7.2%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$114,900
Median rent$379
Owner-occupied91.0%
Vacant16.5%
Price-to-income1.1x
Est. income to buy$32,000