Albion, IN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Albion Neighborhoods Since 2000




Albion, IN Real Estate Data

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Albion Housing Market Information

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.

Albion Home Appreciation Rates

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.

Average Home Values

 

Median Home Value:
$125,469

Albion, IN HOME PRICES

Value Range
> $1,061,000 0.0
$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

Average for IN
Low for Nation

Value Relative to Nation Value Relative to State
62.3168873784132 48.4162895927602

Number Of Homes And Apartments:
912

Albion Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IN*
Compared To
America*
Latest Quarter:
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
Since 2000:
2000 Q1 - 2017 Q1
16.77% 0.90% 4 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$752 / per month

Homeownership Rate

Homeownership
Owners 55.62
Renters 44.38
Vacant 10.76

Housing Market Details

 

Age of Homes

AGE OF Albion HOMES
2000 or Newer 10.6
1970 - 1999 43.2
1940 - 1969 15.3
1939 or Older 31.0

Types of Homes

TYPE OF Albion HOMES
Single-Family 61.4
Townhomes 0.0
Small Apt. Buildings 9.1
Apt. Complexes 10.6
Mobile Homes 19.0
Other 0.0

Home Size

SIZE OF Albion HOMES
No Bedroom 0.00
1 Bedroom 11.25
2 Bedrooms 27.50
3 Bedrooms 47.55
4 Bedrooms 10.76
5 or more bedrooms 2.94