Kokomo, Indiana Housing Market

What stands out in Kokomo?

• Asking price per square foot has moved +10.5% a year over five years: among the strongest five-year price growth of 765 tracked cities. Long-run appreciation has been strong here.
• The median asking price is $189,822: one of the cheapest of 765 tracked cities. Low entry prices help cash flow, but check what keeps them low before you buy.
• Asking prices swing about 19.0% between the cheapest and priciest months: among the biggest seasonal price swings of 765 tracked cities. Timing your purchase within the year matters here.

Why is Kokomo still competitive?

Kokomo has 26% fewer homes for sale than in 2017–2019 at this time of year, and the typical listing has been on the market 49 days, shorter than 67% of the 765 cities we track. Well-priced homes will draw more than one offer. Your discount is in the listing that has sat, so set a price alert and move when a stale one gets cut.

When do Kokomo prices dip?

Across 9 full years, Kokomo asking prices ran lowest in February, about 11.0% below the year's average. They peaked in May. The most homes for sale show up in November, about 26% above the yearly average. Shop in November for choice, and expect the softest asking prices in February.

How much can you negotiate in Kokomo?

Pending-sale counts for Kokomo were thinly reported until recently, so this page reads demand from how long listings sit, how many sellers cut, and how much is for sale. About 1 in 4 sellers has already dropped their price. Each one has learned their first price was too high. Start your offer below their new price.

The typical Kokomo listing has been on the market 49 days. That is 29% longer than a year ago. There are 222 homes for sale in Kokomo. That is 6.0 times the tightest month on record, but below the peak of 405. Supply is growing against last year.

What to do about it

• Judge each listing on its own.
• Homes listed 60+ days ago with a price cut are where your discount is.
• Fresh, well-priced homes will not move on price. Do not waste offers on them.

What is the fair market rent in Kokomo?

HUD sets one fair market rent for Howard County. For fiscal year 2026:

• 1 bedroom: $890 a month. Up 10% on last year, up 77% since FY2016.
• 2 bedrooms: $1,123 a month. Up 10% on last year, up 67% since FY2016.
• 3 bedrooms: $1,388 a month. Up 8% on last year, up 53% since FY2016.
• 4 bedrooms: $1,567 a month. Up 9% on last year, up 70% since FY2016.

The figures include tenant-paid utilities and apply to all of Howard County, so one home's rent can sit well above or below them. See fair market rent by city.

Who will rent from you in Kokomo?

In Kokomo, 32 out of every 100 households rent. Most own their home. That share has held steady for five years. Renter households average 2.1 people. Singles and couples rent here. Two bedrooms beat four.

Households grew 1% in five years. The housing stock held flat. The two are moving in step. 11.3% of homes sit empty. Tenants have options. Budget extra weeks of vacancy between leases.

The median Kokomo household earns $61,327 a year. Incomes here have grown 4.1% a year since 2019. Home prices have outrun incomes. Locals are being priced out. A typical home costs 3.1 times the median income. Locals can afford to buy here. Your exit buyer can be a local family. At 30% of income, a tenant on the median income can pay about $1,533 a month.

To see what one Kokomo address would rent for and cash flow, run it through the app.

What numbers should you underwrite a Kokomo deal with?

• Price growth to assume — +7.8%/yr. Kokomo grew 10.5% a year over the last five years. That is faster than its ten-year pace. The momentum is recent. Do not assume it continues. Underwrite between the two rates. Prices were flat over the last year.
• Competition when you exit — +13%. Homes for sale in Kokomo are up 13% on last year, so your resale faces more competition than today's comps did.

Read when a cheap market is a warning and how we read these numbers, then run the numbers on a deal.

What is the median home price in Kokomo?

The median asking price in Kokomo is about $190,000 as of Sep 2026, down 1.3% from a year ago. This is the asking price on homes listed for sale. Sites that report sold prices or estimated home values will show a different number. Our Kokomo figures cover the 4 ZIP codes with a Kokomo mailing address, which can reach past city limits.

Is Kokomo a buyer's or seller's market in 2026?

Neither side has the upper hand in Kokomo right now. We compare Kokomo with 2017–2019 at this time of year: there are 26% fewer homes for sale; 23% of sellers have cut their price, against 18% then; the typical listing has been up 17% fewer days.

Are Kokomo home prices going up or down?

The median asking price is 16.9% below its May 2024 peak. Per square foot the gap is smaller: 2.6% below the Feb 2025 high. Part of the drop is smaller homes coming to market. Prices stopped falling about a year ago. They are flat now. Waiting will not get you a cheaper house. It might still get you a more motivated seller.

What price growth should I assume for Kokomo?

Assume +7.8% a year. Kokomo grew 10.5% a year over the last five years. That is faster than its ten-year pace. The momentum is recent. Do not assume it continues. Underwrite between the two rates. Prices were flat over the last year.

What is the fair market rent in Kokomo?

HUD's fiscal year 2026 fair market rent for Howard County is $1,123 a month for 2 bedrooms and $1,388 for 3 bedrooms. The figures include tenant-paid utilities and cover the whole county.