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
With a population of 2,325, 912 total housing units (homes and apartments), and a median house value of $125,469, house prices in Albion are solidly below the national average.
Single-family detached homes are the single most common housing type in Albion, accounting for 61.35% of the town's housing units. Other types of housing that are prevalent in Albion include mobile homes or trailers ( 18.98%), large apartment complexes or high rise apartments ( 10.57%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 9.10%).
The most prevalent building size and type in Albion are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 55.62% owning and 44.38% renting.
There is a lot of housing in Albion built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Albion built before 1939 ( 31.02%). A lesser amount of the housing stock also hails from between 1940-1969 ( 15.26%). There's also some housing in Albion built between 2000 and later ( 10.57%).
Vacant housing appears to be an issue in Albion. Fully 10.76% of the housing stock is classified as vacant. Left unchecked, vacant Albion homes and apartments can be a drag on the real estate market, holding Albion 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.
Appreciation rates for homes in Albion have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 1.30%, which ranks in the top 50% nationwide. This equates to an annual average Albion house appreciation rate of 0.13%.
NeighborhoodScout's data show that during the latest twelve months, Albion's appreciation rate, at 3.21%, has been at or slightly above the national average. In the latest quarter, Albion's appreciation rate has been -1.14%, which annualizes to a rate of -4.49%.
Notably, Albion's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Indiana, our data show that Albion's latest annual appreciation rate is lower than 50% of the other cities and towns in Indiana.
|$796,001 - $1,061,000||0.4|
|$530,001 - $796,000||0.8|
|$424,001 - $530,000||2.4|
|$318,001 - $424,000||1.7|
|$212,001 - $318,000||17.4|
|$106,001 - $212,000||33.4|
|$53,001 - $106,000||35.4|
|$0 - $53,000||8.5|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Albion HOMES|
|2000 or Newer||10.6|
|1970 - 1999||43.2|
|1940 - 1969||15.3|
|1939 or Older||31.0|
|TYPE OF Albion HOMES|
|Small Apt. Buildings||9.1|
|SIZE OF Albion HOMES|
|5 or more bedrooms||2.94|