Terre Haute, Indiana Housing Market

What stands out in Terre Haute?

• The median household earns $53,147 a year: among the lowest incomes of 763 tracked cities. Rents are capped by what local households earn.
• The median asking price is $192,427: one of the cheapest of 763 tracked cities. Low entry prices help cash flow, but check what keeps them low before you buy.
• Asking price per square foot is up 6.5% on the year: among the fastest-rising asking prices per square foot of 763 tracked cities. Sellers will price off recent gains. Comp carefully.

Are Terre Haute price gains broad or limited to a few ZIP codes?

Asking price per square foot in Terre Haute is up 6.5% over the last year. 5 of the 5 ZIP codes with at least 10 listings rose. 47804 led at up 21.3%, and 47802 trailed at up 0.8%. Broad gains like these are harder to fade. Over five years the pace has been 4.7% a year. Underwrite closer to that than to the last twelve months.

What does a shrinking population mean for Terre Haute landlords?

The population in Terre Haute's ZIP codes fell 2.0% over five years. 9.8% of homes are vacant, higher than 74% of tracked cities. Households still grew 1.8% while the housing stock held flat. Fewer people living in more households means rental demand has held up better than the population suggests. Check vacancy by ZIP before you buy.

Is now a good time to buy in Terre Haute?

The median asking price is 22.0% below its May 2025 peak. Per square foot the gap is smaller: 2.8% below the Jan 2026 high. Part of the drop is smaller homes coming to market. Prices are rising again. Every month you wait costs money. The question is no longer when. It is which house. Terre Haute prices have risen in 88 of the last 112 months. Drops here have been short and shallow. Buying in a slow month has rarely hurt a long hold.

If you plan to sell in the next two years, move it up. This much buyer demand does not last. Right now it does your negotiating for you.

How does Terre Haute compare with other Indiana markets?

Ranked among the 16 Indiana markets we track:

• Asking price: 4th cheapest of 16. Terre Haute is at $192,427. Closest: Muncie and Kokomo.
• Buyer competition: 3rd most competitive of 7. Terre Haute is at 0.43 buyers per home. Closest: Carmel and Fishers.
• Time on market: 6th longest time on market of 16. Terre Haute is at a median of 53 days on market. Closest: Columbus and Greenwood.
• Price cuts: 3rd fewest price cuts of 16. Terre Haute is at 23% of sellers cutting. Closest: Fort Wayne and Bloomington.

Who will rent from you in Terre Haute?

In Terre Haute, 41 out of every 100 households rent. That is nearly half. That share has held steady for five years. Renter households average 2.0 people. Singles and couples rent here. Two bedrooms beat four.

The median Terre Haute household earns $53,147 a year. Incomes here have grown 3.2% a year since 2019. Home prices have outrun incomes. Locals are being priced out. A typical home costs 3.6 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 $1,329 a month.

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

What is the fair market rent in Terre Haute?

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

• 1 bedroom: $864 a month. Up 10% on last year, up 66% since FY2016.
• 2 bedrooms: $1,094 a month. Up 10% on last year, up 57% since FY2016.
• 3 bedrooms: $1,312 a month. Up 9% on last year, up 52% since FY2016.
• 4 bedrooms: $1,535 a month. Up 10% on last year, up 61% since FY2016.

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

What numbers should you underwrite a Terre Haute deal with?

• Price growth to assume — +4.7%/yr. Terre Haute grew 6.7% a year over the decade. Ignore that rate. Most of it landed in the 2020 and 2021 boom. Without the boom, Terre Haute grows about 4.7% a year. That is the number to type in. Prices rose 6.5% over the last year. Use it for timing. The five-year rate is the better guide.
• Competition when you exit — +10%. Homes for sale in Terre Haute are up 10% 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 Terre Haute?

The median asking price in Terre Haute is about $192,000 as of Oct 2026, down 10.6% from a year ago. Asking price per square foot is up 6.5%, so read the median with care: it moves with which homes happen to be listed. 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 Terre Haute figures cover the 7 ZIP codes with a Terre Haute mailing address, which can reach past city limits.

Is Terre Haute a buyer's or seller's market in 2026?

Sellers have more pull in Terre Haute than usual. We compare Terre Haute with 2017–2019 at this time of year: there are 43 pending sales per 100 listings, against 22 then; 23% of sellers have cut their price, against 17% then; there are 23% fewer homes for sale.

Are Terre Haute home prices going up or down?

The median asking price is 22.0% below its May 2025 peak. Per square foot the gap is smaller: 2.8% below the Jan 2026 high. Part of the drop is smaller homes coming to market. Prices are rising again. Every month you wait costs money. The question is no longer when. It is which house.

What is the best month to buy a house in Terre Haute?

Across 9 full years, Terre Haute asking prices ran lowest in January, about 9.0% below the year's average. They peaked in June. The most homes for sale show up in November, about 13% above the yearly average.

What price growth should I assume for Terre Haute?

Assume +4.7% a year. Terre Haute grew 6.7% a year over the decade. Ignore that rate. Most of it landed in the 2020 and 2021 boom. Without the boom, Terre Haute grows about 4.7% a year. That is the number to type in. Prices rose 6.5% over the last year. Use it for timing. The five-year rate is the better guide.

What is the fair market rent in Terre Haute?

HUD's fiscal year 2026 fair market rent for Vigo County is $1,094 a month for 2 bedrooms and $1,312 for 3 bedrooms. The figures include tenant-paid utilities and cover the whole county.