Shipshewana Lake, IN
Population 325 · Indiana
About Shipshewana Lake, IN
Shipshewana Lake is a small community located in Indiana with a population of 325 residents according to the latest US Census Bureau American Community Survey data. The median household income is $68,984 per year, which is 8% below the national median of $75,149. The median age of 51.5 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 Shipshewana Lake features a median home value of $325,700, which is 33% above the national median of $244,900. This positions Shipshewana Lake in a moderately priced market relative to the rest of the country. Median monthly rent is $804, 31% below the national average of $1,163/month. Of the 201 total housing units, 33% are owner-occupied (55 units) and 67% are renter-occupied (110 units). The higher proportion of renters may reflect a transient population, younger demographics, or high housing costs relative to income.
Economy & Employment
The local economy in Shipshewana Lake shows an unemployment rate of 0.0%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 0.0%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Shipshewana Lake have an average one-way commute time of 0 minutes, one of the shorter commutes in the region.
Education & Demographics
0.0% of Shipshewana Lake 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 0.0% White, 0.0% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 5.5% of the population being foreign-born.
Cost of Living in Shipshewana Lake, IN
Compared to national averages, Shipshewana Lake has a median household income of $68,984 (8% below the national median of $75,149). Home values average $325,700, which is 33% above the national median. Monthly rent at $804 is 31% below the US average of $1,163. Within Indiana, Shipshewana Lake's income is 0% below the state average of $69,330, and home values are 99% above the state median of $163,409.
Why Live in Shipshewana Lake, IN?
Shipshewana Lake offers rent that’s lower than the national average at $804/month, and a strong job market with an unemployment rate of just 0.0%, and a low poverty rate of 0.0%, better than the national average. Additionally, the city features short commute times averaging just 0 minutes.
Potential considerations include median household income ($68,984) that falls below the national average. However, Shipshewana Lake’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Shipshewana Lake has a population of 325 with a median age of 51.5 years. Compare Shipshewana Lake with other cities to see how it stacks up, or explore all cities in Indiana.
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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 Shipshewana Lake
What is the population of Shipshewana Lake, IN?
The population of Shipshewana Lake, IN is 325 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 Shipshewana Lake?
The median household income in Shipshewana Lake, IN is $68,984 per year, which is 8% below the national median of $75,149.
What is the median home value in Shipshewana Lake?
The median home value in Shipshewana Lake, IN is $325,700, which is 33% above the national median of $244,900. A significant portion of residents rent their homes.
What is the average rent in Shipshewana Lake?
The median monthly rent in Shipshewana Lake, IN is $804, which is 31% below the national average of $1,163/month.
What is the unemployment rate in Shipshewana Lake?
The unemployment rate in Shipshewana Lake, IN is 0.0%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Shipshewana Lake, IN a good place to live?
Shipshewana Lake offers a moderate cost of living, a competitive housing market, and a strong job market. With a population of 325 and a median age of 51.5, the city appeals to established professionals and retirees.
How educated is Shipshewana Lake, IN?
0.0% of residents in Shipshewana Lake 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 Shipshewana Lake?
Key cost-of-living indicators for Shipshewana Lake, IN: median home value is $325,700 (33% above national), median rent is $804/month, and median household income is $68,984. The home-value-to-income ratio is 4.7x, a moderate figure by national standards.
What is the poverty rate in Shipshewana Lake?
The poverty rate in Shipshewana Lake, IN is 0.0%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Shipshewana Lake, IN?
Shipshewana Lake's population is 0.0% White, 0.0% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.0% two or more races. 5.5% of residents are foreign-born.