Market Intelligence · IN / Elkhart

Elkhart, IN 46516 Housing Market

The typical home value in Elkhart, IN 46516 is $189,846, up 5.5% over the past year as of September 2026. The median list price is $214,950, and homes spend a median of 46 days on the market.

Updated September 2026Median value$190K

The median home value in Elkhart, IN 46516 is $190K as of September 2026, up 5.5% year over year, according to Zillow ZHVI. For a read on your own home, start with a free consultation: a licensed local pro will walk you through your numbers and your options, with no obligation.

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Typical 46516 range

$175K to $205K

This is an automated estimate, not an appraisal. Actual value is determined by current market conditions and professional evaluation. It is provided for informational purposes only and is not an offer to buy or a promise of value.

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12-month value trend

+5.5% over 12 months

Sep 2025$180K

Low $180KHigh $190K

Sep 2026$190K

The numbers

What is the 46516 housing market like?

As of September 2026

Typical home value

$190K

5.5%YoY

Median list price

$215K

12.3%MoM

Days on market

24.3%MoM

Homes for sale

6.5%MoM

Price cuts

29.2%

3.3%MoM

New listings

31.8%MoM

Sources · Zillow ZHVI (September 2026) / Realtor.com (September 2026) / FRED (October 2026)

The outlook

46516 housing market forecast 2027

+3.7%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 46516 to rise 3.7% by September 2027.

Over the 12 months through September 2026, typical home values in 46516 rose 5.5%, per the Zillow Home Value Index.

Will home prices drop in 46516?

Zillow's forecast does not call for a drop: it expects typical home values in 46516 to rise 3.7% by September 2027, after a 5.5% rise over the past 12 months. Forecasts are not guarantees: mortgage rates, inventory, and the wider economy can move values either way.

Forecast: Zillow Home Value Forecast, published October 2026. A forecast, not a guarantee.

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The comparison

How do 46516 home prices compare?

46516$189,846
Elkhart$244,258
Indiana$233,780
United States$285,347

Median Zillow home value (ZHVI), as of September 2026. Comparison levels are medians across every ZIP code with Zillow data (Elkhart: 3 ZIPs; Indiana: 697 ZIPs; United States: 26,262 ZIPs).

Context

Sellers in 46516 are asking above where values sit, with a median list price of $214,950 against a typical home value of $189,846. Values are still rising, up 5.5% over the past year. Inventory is modest at 66 homes for sale, and 30 new listings came on in September 2026. Homes take a median of 46 days to sell, so buyers have some time to compare. Pricing realistically matters here, because asking too far above value is likely to mean sitting longer or cutting the price.

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Down payment20% · $37,969

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Common questions

What people ask us.

How much is a home in 46516 worth?

The typical home value in 46516 is $189,846, up 5.5% over the past year as of September 2026.

How long do homes take to sell in 46516?

Homes in 46516 spend a median of 46 days on the market as of September 2026. There were 66 homes for sale and 30 new listings that month.

Are sellers cutting prices in 46516?

Yes, 29.2% of listings in 46516 had a price cut as of September 2026.

Discover

Nearby ZIP markets.

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