Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 8,568, 3,533 total housing units (homes and apartments), and a median house value of $122,150, house prices in Chanute are some of the most affordable in Kansas as well as the nation.
Single-family detached homes are the single most common housing type in Chanute, accounting for 86.10% of the city's housing units. Other types of housing that are prevalent in Chanute include large apartment complexes or high rise apartments ( 8.08%), duplexes, homes converted to apartments or other small apartment buildings ( 4.15%), and a few row houses and other attached homes ( 1.02%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Chanute. Owner-occupied housing accounts for 65.34% of Chanute's homes, and 50.72% have either three or four bedrooms, which is average sized relative to America.
Vacant housing appears to be an issue in Chanute. Fully 14.31% of the housing stock is classified as vacant. Left unchecked, vacant Chanute homes and apartments can be a drag on the real estate market, holding Chanute real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Some of the lowest real estate appreciation rates in America over the last ten years have been in Chanute, where house values have increased just 38.78%, which is annualized rate of 3.33%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
Over the last year, Chanute appreciation rates have trailed the rest of the nation. In the last twelve months, Chanute's appreciation rate has been 4.57%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Chanute were at 4.94%, which equates to an annual appreciation rate of 21.27%.
Importantly, this makes Chanute one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Kansas, our data show that Chanute's latest annual appreciation rate is lower than 80% of the other cities and towns in Kansas.
$122,150
for Kansas
for nation
3,533
$1,089 / per month