Waveland, IN
Population 431 · Indiana
About Waveland, IN
Waveland is a small community located in Indiana with a population of 431 residents according to the latest US Census Bureau American Community Survey data. The median household income is $60,956 per year, which is 19% below the national median of $75,149. The median age of 27.2 years is notably younger the US median age of 38.9 years, indicating a younger, often more dynamic population base.
Housing Market Overview
The housing market in Waveland features a median home value of $96,800, which is 60% below the national median of $244,900. This makes Waveland one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $920, 21% below the national average of $1,163/month. Of the 185 total housing units, 85% are owner-occupied (126 units) and 15% are renter-occupied (23 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Waveland shows an unemployment rate of 5.3%, which is near the national rate of 3.7%. The poverty rate stands at 15.8%, above the national average of 12.4%. Workers in Waveland have an average one-way commute time of 28.7 minutes.
Education & Demographics
12.3% of Waveland 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 0.2% White, 1.4% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 1.2% of the population being foreign-born.
Cost of Living in Waveland, IN
Compared to national averages, Waveland has a median household income of $60,956 (19% below the national median of $75,149). Home values average $96,800, which is 60% below the national median. Monthly rent at $920 is 21% below the US average of $1,163. Within Indiana, Waveland's income is 12% below the state average of $69,330, and home values are 41% below the state median of $163,409.
Why Live in Waveland, IN?
Waveland offers affordable housing with a median home value of $96,800, below the US average of $244,900, and rent that’s lower than the national average at $920/month.
Potential considerations include median household income ($60,956) that falls below the national average. However, Waveland’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Waveland has a population of 431 with a median age of 27.2 years. Compare Waveland with other cities to see how it stacks up, or explore all cities in Indiana.
Similar Cities Near Waveland
Cities in Indiana with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Big Lake | 430 | $120,625 | $216,200 | Compare |
| New Washington | 432 | $84,141 | $193,000 | Compare |
| Otwell | 430 | $47,422 | $126,200 | Compare |
| Michiana Shores | 433 | $92,500 | $448,300 | Compare |
| Chain-O-Lakes | 427 | $71,010 | $255,300 | Compare |
| Wilkinson | 427 | $63,500 | $132,500 | Compare |
| Amo | 426 | $76,250 | $151,600 | Compare |
| Center | 436 | $83,569 | $239,500 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Indiana
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Waveland With Other Cities
Frequently Asked Questions about Waveland
What is the population of Waveland, IN?
The population of Waveland, IN is 431 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 Waveland?
The median household income in Waveland, IN is $60,956 per year, which is 19% below the national median of $75,149.
What is the median home value in Waveland?
The median home value in Waveland, IN is $96,800, which is 60% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Waveland?
The median monthly rent in Waveland, IN is $920, which is 21% below the national average of $1,163/month.
What is the unemployment rate in Waveland?
The unemployment rate in Waveland, IN is 5.3%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Waveland, IN a good place to live?
Waveland offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 431 and a median age of 27.2, the city appeals to young professionals and families.
How educated is Waveland, IN?
12.3% of residents in Waveland 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 Waveland?
Key cost-of-living indicators for Waveland, IN: median home value is $96,800 (60% below national), median rent is $920/month, and median household income is $60,956. The home-value-to-income ratio is 1.6x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Waveland?
The poverty rate in Waveland, IN is 15.8%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Waveland, IN?
Waveland's population is 0.2% White, 1.4% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.0% two or more races. 1.2% of residents are foreign-born.