Steuben County’s Housing Market Signals a Shift Toward Economic and Workforce Growth

Steuben County, IN, has long been recognized as a seasonal lake community and popular retirement destination. However, the latest 2024 housing study by Zimmerman/Volk Associates, Inc. tells a new story of economic growth, workforce expansion, and a shifting demographic that positions Steuben County as an increasingly attractive destination for young professionals and families.

The study, presented at the Regional Housing Symposium in October 2024, highlighted a five-year transformation in housing, population, and income trends. The data showcases a county on the rise and provides tangible evidence of Steuben County becoming a hub for career-driven individuals seeking opportunity and affordability.

Population Growth and Household Expansion

Between 2019 and 2024, Steuben County’s population increased from 34,540 to 34,808, and the number of households grew from 13,655 to 14,063. Notably, the share of one- to two-person households rose from 65% to 68%, reflecting a rise in younger singles and couples establishing roots in the area.

Rising Incomes and Housing Market Evolution

The economic landscape in Steuben County has strengthened, with estimated median household income climbing from $56,700 in 2019 to $72,440 in 2024, an impressive 22% increase that signals greater earning potential for residents.

The housing market has kept pace with this economic shift, with median home values increasing from $143,800 to $207,068, illustrating strong property value appreciation. Despite this growth, home prices remain relatively affordable, 52% less than the national median of $398,400.

A Shift in Demographics

One of the most telling indicators of Steuben County’s changing appeal is its demographic shift. While empty nesters and retirees still make up a significant portion of the population, their share has slightly declined from 46.7% in 2019 to 45.8% in 2024. Meanwhile, younger singles and couples have surged from 15.1% to 21.1%, a 6% increase. This rise aligns with a growing local economy, increased business opportunities, and an influx of professionals drawn to the county’s balance of work and lifestyle advantages.

Over the next five years, Angola, Fremont, Hamilton, Ashley, Hudson, Clear Lake, and Orland projects adding 300 to 350 new housing units. This growth will help meet the demand for housing, attract talent, and support local business expansion.

Steuben County: A Destination for Career Growth

The 2024 housing study confirms what local businesses and economic development leaders already know: Steuben County is more than a retirement haven and seasonal community. It is where young professionals can build careers, families can find stability, and businesses can thrive.

With a strong job market, a growing population, and a housing sector poised for continued expansion, Steuben County is solidifying its reputation as a premier destination for those seeking opportunity, community, and long-term prosperity.

For businesses and individuals looking to invest in their future, Steuben County offers the perfect combination of economic vitality, housing affordability, and career potential. The next five years will be crucial in shaping this trajectory, and the data from this study only reinforce the county’s bright and promising future.

Steuben County Economic Development Corporation

The Steuben County Economic Development Corporation (SCEDC) is a 501(c)(3) non-profit organization dedicated to enhancing economic development in Steuben County and its municipalities. Our mission is to foster economic prosperity through collaboration, creating more employment opportunities, and improving the quality of life for residents. We offer comprehensive services, including business retention and expansion, business attraction, talent attraction and development, and community development and growth.

Visit www.steubenedc.com to learn more about how we can support your business and contribute to the economic success of Steuben County.