Zip lookup · IN

46516
Elkhart, Indiana.

Elkhart, Elkhart County, IN · Elkhart-Goshen, IN metro · population 31,871

What it costs per month · 46516 $996/mo

to buy the typical home at today's mortgage rate — +$572 (+135%) since Jan 2020.

What the home itself did
1 year
Up $9,874 +5%
$179,973$189,846 since Sep 2025
5 years
Up $47,847 +34%
$142,000$189,846 since Sep 2021

Monthly payment to buy the typical home

Home value × that month's 30-year mortgage rate, 20% down, principal and interest. This is the line households feel: prices and rates compound each other.

$500 $1,000 $1,500 $2,000 2002 2006 2010 2014 2018 2022 2026 46516 $996 United States $1,922
$500 $1,000 $1,500 $2,000 2002 2010 2018 2026
  • 46516$996
  • United States$1,922

At the last five years' pace, a typical home here doubles in price every 12 years.

Typical home values in zip 46516 rose 5.5% over the past year — faster than the nation's +1.2%.

Asking rents in zip 46516 rose 4.9% over the past year — faster than the nation's +2.7%.

Owning the typical home in zip 46516 runs $158/mo more than renting one. The gap peaked at $189 in May 2025.

That is $1,329 a month against $1,171 rent: a $996 mortgage payment, plus $129 property tax and $203 insurance & upkeep.

Owning vs renting — zip 46516

The owning line is the typical home's monthly payment at that month's rate, plus property tax and insurance & upkeep; the renting line is the typical asking rent; the grey line is the mortgage payment on its own. Same homes, same months, both ways of paying for a roof.

$900 $1,000 $1,100 $1,200 $1,300 2025 2026 Owning all in $1,329 Renting $1,171 Mortgage only $996
$900 $1,000 $1,100 $1,200 $1,300 2025 2026
  • Owning all in$1,329
  • Renting$1,171
  • Mortgage only$996

Property tax · $129/mo 0.82% of value a year — the ACS 2020-2024 median bill over the median home value for Elkhart County, IN

Insurance & upkeep · $203/mo insurance, maintenance and repairs together, from the BLS Consumer Expenditure Survey — the national figure for mortgaged homeowners, scaled to this market's home value. BLS publishes the three bundled and they cannot be split.

Both are priced off the same month's home value, so they rise with the market. Neither is a quote — a specific home's bill depends on its assessment, its age and its insurer.

Zillow also publishes an index for the city itself: Elkhart, IN — measured over the city limits, which is a different area from this zip.

Asking rent $1,171 as of Sep 2026
+4.9%year on year
Typical home value $189,846 as of Sep 2026
+5.5%year on year

Asking rent — 46516

Against the Elkhart-Goshen, IN metro and the national benchmark.

$1,000 $1,250 $1,500 $1,750 2025 2026 46516 $1,171 Elkhart $1,182 United States $1,932
$1,000 $1,250 $1,500 $1,750 2025 2026
  • 46516$1,171
  • Elkhart$1,182
  • United States$1,932

Typical home value — 46516

Mid-tier homes, smoothed and seasonally adjusted.

$100,000 $200,000 $300,000 2018 2020 2022 2024 2026 46516 $189,846 Elkhart $266,456 United States $366,157
$100,000 $200,000 $300,000 2018 2022 2026
  • 46516$189,846
  • Elkhart$266,456
  • United States$366,157

Within 20 miles

Showing 30 of 33 zips in range — sorting picks from all 33.

10 mi 20 mi 50 mi
Miles Zip City Population Rent Home value
3.6 46514 Elkhart 42,389 $1,288 $250,777
4.4 46517 Elkhart 25,433 $899 $244,258
6.7 46561 Osceola 13,996 — $295,503
7.4 46507 Bristol 9,991 — $338,906
8.5 49130 Union 1,258 — $374,106
9.0 46526 Goshen 33,668 $1,248 $268,002
9.5 46528 Goshen 26,248 $1,201 $309,516
9.6 49112 Edwardsburg 10,544 — $304,217
10.4 46530 Granger 31,598 $2,026 $416,295
10.4 46545 Mishawaka 26,606 $1,181 $218,102
10.7 46544 Mishawaka 31,077 $1,208 $208,991
11.1 46573 Wakarusa 3,936 — $318,720
12.8 46540 Middlebury 12,993 — $377,516
13.7 46615 South Bend 14,190 $1,324 $182,054
13.8 46635 South Bend 6,410 — $266,949
14.4 46553 New Paris 3,828 — $308,397
14.9 46617 South Bend 10,032 $1,530 $332,899
15.4 49061 Jones 1,799 — $248,890
15.6 49031 Cassopolis 7,869 — $275,941
15.8 46601 South Bend 4,800 $1,100 $151,023
15.8 46637 South Bend 16,200 $1,205 $255,304
16.0 46550 Nappanee 12,843 $895 $301,019
16.1 49099 White Pigeon 5,942 — $239,621
16.5 46613 South Bend 12,279 $1,157 $107,494
16.5 49095 Vandalia 2,432 — $349,770
16.6 46616 South Bend 5,979 $1,208 $151,750
17.3 46543 Millersburg 4,741 — $420,782
18.0 46614 South Bend 29,602 $1,142 $242,693
18.2 49120 Niles 36,495 $1,396 $213,434
18.7 46506 Bremen 9,994 — $280,277

Coordinates and population from SimpleMaps US Zips (Basic). Rent and home values from Zillow Research.