New Market, IN
Population 544 · Indiana
About New Market, IN
New Market is a small community located in Indiana with a population of 544 residents according to the latest US Census Bureau American Community Survey data. The median household income is $72,917 per year, which is 3% below the national median of $75,149. The median age of 43.2 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in New Market features a median home value of $136,900, which is 44% below the national median of $244,900. This makes New Market one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $964, 17% below the national average of $1,163/month. Of the 244 total housing units, 80% are owner-occupied (178 units) and 20% are renter-occupied (45 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in New Market shows an unemployment rate of 2.1%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 2.8%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in New Market have an average one-way commute time of 21.1 minutes.
Education & Demographics
11.1% of New Market residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 1.7% White, 0.4% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 0.4% of the population being foreign-born.
Cost of Living in New Market, IN
Compared to national averages, New Market has a median household income of $72,917 (3% below the national median of $75,149). Home values average $136,900, which is 44% below the national median. Monthly rent at $964 is 17% below the US average of $1,163. Within Indiana, New Market's income is 5% above the state average of $69,330, and home values are 16% below the state median of $163,409.
Why Live in New Market, IN?
New Market offers affordable housing with a median home value of $136,900, below the US average of $244,900, and rent that’s lower than the national average at $964/month, and a strong job market with an unemployment rate of just 2.1%. Additionally, the city features a low poverty rate of 2.8%, better than the national average, and short commute times averaging just 21.1 minutes.
Potential considerations include median household income ($72,917) that falls below the national average. However, New Market’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
New Market has a population of 544 with a median age of 43.2 years. Compare New Market with other cities to see how it stacks up, or explore all cities in Indiana.
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Demographics
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Economy & Education
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Other Cities in Indiana
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about New Market
What is the population of New Market, IN?
The population of New Market, IN is 544 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Indiana.
What is the median household income in New Market?
The median household income in New Market, IN is $72,917 per year, which is 3% below the national median of $75,149.
What is the median home value in New Market?
The median home value in New Market, IN is $136,900, which is 44% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in New Market?
The median monthly rent in New Market, IN is $964, which is 17% below the national average of $1,163/month.
What is the unemployment rate in New Market?
The unemployment rate in New Market, IN is 2.1%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is New Market, IN a good place to live?
New Market offers a moderate cost of living, affordable housing, and a strong job market. With a population of 544 and a median age of 43.2, the city appeals to a broad range of residents.
How educated is New Market, IN?
11.1% of residents in New Market aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in New Market?
Key cost-of-living indicators for New Market, IN: median home value is $136,900 (44% below national), median rent is $964/month, and median household income is $72,917. The home-value-to-income ratio is 1.9x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in New Market?
The poverty rate in New Market, IN is 2.8%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is New Market, IN?
New Market's population is 1.7% White, 0.4% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.0% two or more races. 0.4% of residents are foreign-born.