Northwood, IA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Northwood, IA Real Estate Data


Northwood Housing Market Information

With 1,995 people, 958 houses or apartments, and a median cost of homes of $126,698, house prices in Northwood are solidly below the national average.

Single-family detached homes are the single most common housing type in Northwood, accounting for 81.74% of the city's housing units. Other types of housing that are prevalent in Northwood include duplexes, homes converted to apartments or other small apartment buildings ( 8.70%), large apartment complexes or high rise apartments ( 5.89%), and a few mobile homes or trailers ( 1.84%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Northwood. Owner-occupied housing accounts for 74.30% of Northwood's homes, and 56.14% have either three or four bedrooms, which is average sized relative to America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Northwood's housing was primarily built during this period, from the '40s through the '60s. A full 33.91% of the city's housing hails from this era. Other housing ages represented in Northwood include homes built before 1939 ( 33.04%) and housing constructed between 1970-1999 ( 25.60%). There's also some housing in Northwood built between 2000 and later ( 7.44%).

Northwood Home Appreciation Rates

Appreciation rates for homes in Northwood have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 15.11%, which ranks in the top 30% nationwide. This equates to an annual average Northwood house appreciation rate of 1.42%.

Over the last year, Northwood appreciation rates have trailed the rest of the nation. In the last twelve months, Northwood's appreciation rate has been 3.87%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Northwood were at -0.32%, which equates to an annual appreciation rate of -1.26%.

Notably, Northwood's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Iowa, our data show that Northwood's latest annual appreciation rate is lower than 60% of the other cities and towns in Iowa.

Average Home Values

 

Median Home Value:
$126,698

Northwood, IA HOME PRICES

Value Range
> $1,382,000 0.0
$1,036,001 - $1,382,000 0.0
$691,001 - $1,036,000 0.0
$553,001 - $691,000 0.4
$414,001 - $553,000 0.5
$276,001 - $414,000 11.9
$138,001 - $276,000 37.6
$69,001 - $138,000 34.2
$0 - $69,000 15.4

Average for IA
Low for Nation

Value Relative to Nation Value Relative to State
62.6690870761843 49.1358024691358

Number Of Homes And Apartments:
958

Rent & Ownership

 

Average Market Rent:
$651 / per month

Homeownership Rate

Homeownership
Owners 74.30
Renters 25.70
Vacant 7.44

Housing Market Details

 

Age of Homes

AGE OF Northwood HOMES
2000 or Newer 7.4
1970 - 1999 25.6
1940 - 1969 33.9
1939 or Older 33.0

Types of Homes

TYPE OF Northwood HOMES
Single-Family 81.7
Townhomes 1.8
Small Apt. Buildings 8.7
Apt. Complexes 5.9
Mobile Homes 1.8
Other 0.0

Home Size

SIZE OF Northwood HOMES
No Bedroom 0.00
1 Bedroom 11.21
2 Bedrooms 29.37
3 Bedrooms 36.43
4 Bedrooms 19.71
5 or more bedrooms 3.29

Northwood Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IA*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
36.72% 1.86% 3 4
* 10 is highest

Popular Neighborhoods in Northwood

Zip Codes in Northwood, IA