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New Pekin

Learn about the people, housing, costs and businesses in New Pekin, Indiana

Median Home$182,141
Median Rent$846/month
Population1,215
Leading IndustriesManufacturing · Agriculture & Mining · Finance & Insurance11% manufacturing
Home Value Growth⬆⬆+14.2% over 2 years
Family-Friendly29% of residentswell above average
Homeowners80% of occupied units
New Pekin
IN

Frequently Asked Questions

What are today's mortgage rates in New Pekin?

As of today, the 30-year fixed mortgage rate for New Pekin is approximately 6.983% (7.022% 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 New Pekin?

The median home value in New Pekin is $182k. The median monthly rent is $846. Annual property taxes average $1k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in New Pekin?

Home values in New Pekin have increased 14.2% 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 New Pekin?

Based on a typical all-in ownership cost of $875/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $38k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in New Pekin is $56k/year.

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What industries drive the economy in New Pekin?

The largest employment sectors in New Pekin are public administration (19%) and agriculture and mining (11%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.