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City Report · IN

Hobart

Pop. 29,558·34th most expensive in Indiana·One of the most affordable rental markets in the US
Median rent (all units)
$1,379/mo
Year-over-Year
Stable
Month-over-Month
+0.2%
vs US Median
-$583
Stable (Monthly)
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Most AffordableMost Expensive
Hobart · $1,379
More affordable than 83% of US cities · National median $1,962/mo
Affordability
22% of income
VERY AFFORDABLE
0%30% benchmark60%+

At $1,379/mo, rent takes about 22% of the local median household income, comfortably within the 30% benchmark.

Income to afford
$55,000/yr
Local median income
$75,160/yr
Based on the 30%-of-income rule using Hobart's median rent and household income. See the full affordability breakdown →
Medians by bedroom

Rent by unit size

Studio
$880
1 BR
$1,000
2 BR
$1,220
3 BR
$1,500
4 BR+
$1,620
Fair Market Rent (HUD)
$1,220/mo

These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,379 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.

Source: HUD Small Area Fair Market Rents. Read the methodology →

Rent trends

12-month history

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Last updated: August 17, 2026

Annual cost
$16,548/yr
At $1,379/mo median
Rent Market Meter
Balanced Market
Renter's MarketBalancedLandlord's Market
Rents are roughly steady, with neither renters nor landlords holding a strong edge right now.
Based on rent-price momentum (+0.0% YoY, +0.2% MoM), not inventory.
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Demographics

Who lives here

Hobart, IN is majority owner-occupied, 21.2% of residents hold a bachelor's degree or higher.

Population
29,558
Median income
$75,160
Median age
39.5
Renters
30.5%
Age distribution
19.8%
24.6%
26.8%
13.7%
15.1%
Under 1819.8%
18–3424.6%
35–5426.8%
55–6413.7%
65+15.1%
Gender
49.4%
50.6%
Male49.4%
Female50.6%
Race & ethnicity
69.8%
14.4%
16.7%
White69.8%
Black14.4%
Hispanic16.7%
Asian1.1%
Education (25+)
40.4%
32.8%
21.2%
No HS diploma5.6%
HS diploma40.4%
Some college32.8%
Bachelor's+21.2%
Housing tenure
69.5%
30.5%
Owner69.5%
Renter30.5%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Hobart, IN has changed in 5 years

Income
$63,168 → $75,160
up 19.0%
Population
29,516 → 29,558
up 0.1%
Renter share
27.6% → 30.5%
+2.9 pts
Bachelor's+
23.5% → 21.2%
-2.3 pts
Median age
40.2 → 39.5
-0.7 yrs

Census figures show median household income at $75,160 today, compared with $63,168 five years earlier. About 30.5% of households rent today, against 27.6% in 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher slipped from 23.5% to 21.2%.

Community

Discussions about Hobart

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View Hobart rent history (2015–2026) →
Salary vs rent

Can you afford rent in Hobart on your salary?

At $1,379/mo, how Hobart rent compares to typical pay (30% rule).

By apartment size

Hobart rent by bedroom count

Median rent for each apartment size in Hobart. Click any size for full breakdown.

Local insights

Tips for renters in Hobart

About renting in Hobart, IN

Last updated: August 17, 2026

The median rent in Hobart is $1,379/mo as of August 2026. A studio apartment averages $880/mo while a 2-bedroom runs $1,220/mo. One-bedroom apartments average $1,000/mo and 3-bedroom units go for $1,500/mo.

At 22% of local median household income ($75,160/yr), Hobart ranks as affordable compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

Is Hobart an affordable city for renters?

Hobart is considered very affordable for renters. At $1,379/mo, rent takes approximately 22% of the local median household income ($75,160/yr). The standard benchmark is 30%. Hobart falls comfortably within that range.

How much income do you need to rent in Hobart?

To keep rent at or below 30% of gross income, you would need to earn at least $55,000/year (~$26/hour full-time) to afford the median rent of $1,379/mo in Hobart. The local median household income is $75,160/yr, meaning the typical Hobart household meets that threshold.

Is rent going up or down in Hobart?

Rent in Hobart has been relatively stable over the past year, with a 0.0% change year over year as of August 2026.

How does Hobart rent compare to other cities in Indiana?

Hobart is middle-of-the-pack for Indiana for rent, ranking #34 out of 62 tracked cities at $1,379/mo.

Which nearby cities are cheaper to rent in than Hobart?

Gary is nearby and more affordable at $1,374/mo, which is $5 less than Hobart.

What percentage of Hobart residents rent vs. own?

According to Census data, approximately 30.5% of Hobart households are renters, while 69.5% are owner-occupied. Hobart leans toward homeownership, which can mean a smaller rental inventory.

How does Hobart rent compare to the national average?

Hobart's median rent of $1,379/mo is $583 (30%) below the US national median of $1,962/mo. Within Indiana, it ranks #34 out of 62 tracked cities.
Income Affordability
22%
VERY AFFORDABLE

At $1,379/mo, rent takes ~22% of Hobart's median household income ($75,160/yr). The standard benchmark is 30%.

Hobart 22%Benchmark 30%
State income tax3.05%
Run the Hobart affordability calculator →
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Hobart, IN

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