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Nappanee

Learn about the people, housing, costs and businesses in Nappanee, Indiana

Median Home$229,533
Median Rent$970/month
Population6,661
Leading IndustriesRetail · Professional Services · Education24% retail
Home Value Growth⬆⬆+18.1% over 2 years
Young Adults31% of residentsabove average nationally
Homeowners64% of occupied units
NotableTransit82/100 · excellent transit access
Nappanee
IN

Frequently Asked Questions

What are today's mortgage rates in Nappanee?

As of today, the 30-year fixed mortgage rate for Nappanee is approximately 6.893% (6.929% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Nappanee?

The median home value in Nappanee is $230k. The median monthly rent is $970. Annual property taxes average $2k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Nappanee?

Home values in Nappanee have increased 18.1% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Nappanee?

Based on a typical all-in ownership cost of $1,006/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $43k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Nappanee is $65k/year.

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What industries drive the economy in Nappanee?

The largest employment sectors in Nappanee are retail (24%) and public administration (23%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.