Home ValuePros

Market Intelligence · IN / Elkhart

Elkhart, IN 46516 Housing Market

The typical home value in Elkhart, IN 46516 is $191,386, up 4.9% over the past year. The median list price is $245,000, and homes are spending a median of 37 days on the market.

Updated August 2026Median value$193K

The median home value in Elkhart, IN 46516 is $193K as of August 2026, up 5.4% year over year, according to Zillow ZHVI. Get your own home's value and a real cash offer in about two minutes, with sources shown and no obligation.

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Typical 46516 range

$178K to $209K

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

+5.4% over 12 months

Typical home value in 46516 over the last 12 months: $184K in Aug 2025 to $193K in Aug 2026 (+5.4%).

Aug 2025$184K

Aug 2026$193K

The numbers

What is the 46516 housing market like?

Typical home value

$193K

Up5.4%YoY

Median list price

$245K

Up27.6%MoM

Days on market

37

Down7.5%MoM

Homes for sale

62

Up17.0%MoM

Price cuts

30.3%

Up57.2%MoM

New listings

44

Up57.1%MoM

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

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The comparison

How do 46516 home prices compare?

  • 46516$193,360
  • Elkhart$247,340
  • Indiana$237,708
  • United States$288,625

Median Zillow home value (ZHVI), as of August 2026. Comparison levels are medians across every ZIP code with Zillow data (Elkhart: 3 ZIPs; Indiana: 697 ZIPs; United States: 26,265 ZIPs).

Context

As of 2026-08-01, there are 62 homes for sale in 46516, with 44 new listings added. The median list price sits at $245,000, while the typical home value is $191,386, up 4.9% over the past year. Homes are moving in a median of 37 days, which points to a steady pace rather than a frenzy. Still, 30.3% of listings have taken a price cut, so some sellers are starting too high and adjusting. For a seller, the takeaway is simple: price realistically from day one, because buyers here are willing to wait out an ambitious number.

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