East Wabash Historic District · Photo: Nyttend · Public domainMeasured against area pay, Wabash costs less to live in than 98% of U.S. towns
It ranks #19 of 592 in Indiana for affordability. Up 4.9% in a year, 29% below the Indiana typical home.
Census 2020–24 home values, rents, tax bills and cost burden, measured against the median household income of the Wabash, IN micro area ($67K). How TownRatings grades cost of living
The grade compares costs with what households across the Wabash-area micro earn ($67K, Census 2020–24). The typical home costs 1.7 years of area income, and 38% of renters pay 30% or more of income for housing.
In dollars
- $183Ktypical home, 29% below the Indiana typical homeZillow, September 2026
- $960a month for a two-bedroom, utilities includedHUD Fair Market Rent, 2026
In paychecks the grade
- 1.7 yrsof area income buys the typical home; the typical U.S. town: 3.3$67K, Wabash-area income
- 13%of area income goes to the median rent; the typical U.S. town: 18%Census 2020–24
- 38%of renters pay 30%+ of income for housing; across Indiana: 48%Census 2020–24
- 12%of owners do; the typical U.S. town: 20%Census 2020–24
The short version on homes in Wabash
Very little new building
Wabash permitted 72 new homes over the past 10 years, about 0.7 a year per 1,000 residents. Across Indiana, the pace in 2025 was 6. In 2025, Wabash permitted 10. New homes ↓
An older housing stock
Half of Wabash’s homes were built before 1954, against 1976 for Indiana as a whole. Older homes can mean character, and also bigger heating and repair bills, so an inspection matters. Property taxes ↓
Fewer people, more homes
Between the 2010 and 2020 censuses, Wabash lost 226 residents while 55 new homes were permitted. New homes ↓
Written from the data on this page. Home values are the Zillow Home Value Index, through September 2026; sales and supply are Redfin’s for May 2026; permits are Census figures through 2025; incomes, rents paid, taxes and ownership come from the Census American Community Survey.
What’s behind Wabash’s grade
Measured against what households in the area earn, Wabash is more affordable than 98% of U.S. towns, #19 of 592 in Indiana. The share of households paying 30%+ for housing pulls the grade down most; property tax holds it up.
Values have outpaced Indiana: the typical Wabash home is up 38.5% in five years, against 28.7% statewide (Zillow).
Up 38.5% in five years
Faster than Indiana (28.7%).
Show as a table
| January | Wabash | Indiana |
|---|---|---|
| 2017 | $92,000 | $133,000 |
| 2018 | $100,000 | $142,000 |
| 2019 | $104,000 | $152,000 |
| 2020 | $110,000 | $162,000 |
| 2021 | $122,000 | $180,000 |
| 2022 | $135,000 | $207,000 |
| 2023 | $146,000 | $224,000 |
| 2024 | $156,000 | $234,000 |
| 2025 | $169,000 | $246,000 |
| 2026 | $178,000 | $253,000 |
| September 2026 | $183,000 | $257,000 |
A typical Wabash home worth $91K in October 2016 is worth about $183K today.
Zillow Home Value Index: the typical value of all homes (middle third), smoothed and seasonally adjusted, through September 2026.
Too few sales to read the market
Only 8 homes sold in May 2026, the latest month in Redfin’s figures: too few to describe the market or quote a median sale price.
A typical home costs 1.7 years of area income
The calculator starts from the area income the grade uses. Switch to Wabash’s own median, or type yours.
That covers a typical Wabash home, with $87K to spare.
A two-bedroom rents for about $960 a month here, $100 less than owning.
An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, Wabash’s typical property tax (0.66% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.
A two-bedroom rents for about $960
Renters already here pay a median of $739, so moving in tends to cost more than staying put.
Fair Market Rent a month, utilities included
U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Miami County, IN): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.
10 new homes permitted in 2025
Builders were permitted 10 new homes in Wabash in 2025, all single-family houses, worth about $3.6 million to build. That's 1 per 1,000 residents, slower than across Indiana (6). Over the past 10 years, Wabash has permitted 72 homes in all.
Between the 2010 and 2020 censuses, Wabash's population fell by 226 even though 55 new homes were permitted. Homes are holding fewer people: households are getting smaller, or more homes are used part of the year. Across Indiana: 1.7 new residents per new home.
Every year as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 4 | 4 | 0 | $1.3 million |
| 2025 | 10 | 10 | 0 | $3.6 million |
| 2024 | 5 | 5 | 0 | $1.7 million |
| 2023 | 5 | 5 | 0 | $1.7 million |
| 2022 | 4 | 4 | 0 | $3 million |
| 2021 | 7 | 7 | 0 | $1.7 million |
| 2020 | 9 | 9 | 0 | $1.7 million |
| 2019 | 7 | 5 | 2 | $1.4 million |
| 2018 | 4 | 0 | 4 | $347,000 |
| 2017 | 12 | 12 | 0 | $2.2 million |
| 2016 | 9 | 9 | 0 | $1.3 million |
| 2015 | 6 | 6 | 0 | $1.1 million |
| 2014 | 1 | 1 | 0 | $210,000 |
| 2013 | 1 | 1 | 0 | $140,000 |
| 2012 | 2 | 2 | 0 | $450,000 |
| 2011 | 9 | 9 | 0 | $1.2 million |
| 2010 | 4 | 4 | 0 | $566,000 |
| 2009 | 7 | 7 | 0 | $660,000 |
| 2008 | 17 | 17 | 0 | $2.1 million |
| 2007 | 16 | 16 | 0 | $2.2 million |
| 2006 | 7 | 7 | 0 | $649,000 |
| 2005 | 9 | 9 | 0 | $1.5 million |
| 2004 | 18 | 18 | 0 | $2.7 million |
| 2003 | 40 | 38 | 2 | $4 million |
| 2002 | 34 | 34 | 0 | $3.1 million |
| 2001 | 22 | 22 | 0 | $2 million |
| 2000 | 18 | 18 | 0 | $2.6 million |
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey.
Property tax runs below the Indiana norm
The median bill is $764 (Indiana: $1,614), 0.66% of a home’s value a year, against 0.74% statewide.
Census American Community Survey 2020–24: the median real-estate tax bill homeowners report, and that bill ÷ the median home value. Bills include town, school and county taxes. The Census reports bills over $10,000 only as “$10,000+”.
Wabash and its neighbors
One source per column.
Cost next door · one source per column
| Town | Cost | Typical home Zillow, September 2026 | Median value Census 2020–24 | Tax rate bill ÷ value | 2-bed rent HUD 2026 |
|---|---|---|---|---|---|
| Wabash | A+ | $183K | $117K | 0.66% | $960 |
Questions about the cost of living in Wabash
Is Wabash expensive to live in?
Measured against what households in the area earn, Wabash costs less than 98% of U.S. towns: an A+ for cost of living, #19 of 592 in Indiana. The typical home costs 1.7 years of the median household income of the Wabash, IN micro area ($67K).
How much does a house cost in Wabash?
About $183K, Zillow’s typical value for September 2026, up 4.9% in a year. The Indiana typical home is $257K.
What salary do you need to live in Wabash?
To buy the typical home with 20% down at 6.3%, about $45,000 a year, keeping the payment (about $1,060 a month with tax and insurance) at 28% of income. To rent a two-bedroom at 30% of income, about $38,000.
How much is rent in Wabash?
HUD puts a two-bedroom at about $960 a month with utilities, the going rate for someone moving in. Renters already here pay a median of $739 (Census 2020–24).
What are property taxes in Wabash?
The median bill is $764 a year, 0.66% of the median home value (Indiana: $1,614, 0.74%), from the Census 2020–24.
Are home prices in Wabash going up?
Yes: up 4.9% in the past year and 38.5% in five years, against 28.7% across Indiana (Zillow).
Neighbors talk housing
What Wabash buyers, sellers and renters are saying.
Home values: Zillow Home Value Index (ZHVI), Zillow Research, September 2026. Sales, days on market and supply: Redfin Data Center, May 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. The calculator is an estimate, not a loan offer. Regional price levels: BEA; electricity: EIA. How TownRatings grades cost of living.