Carmel IN

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Carmel, 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 Q3 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Carmel Housing Market Information

With 101,068 people, 33,738 houses or apartments, and a median cost of homes of $395,824, Carmel house prices are not only among the most expensive in Indiana, Carmel real estate also is some of the most expensive in all of America.

Carmel is a city of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Carmel than is found in 98% of the communities in America.

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Carmel. Owner-occupied housing accounts for 77.12% of Carmel's homes, and 60.01% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Carmel 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 Carmel built between 2000 and later ( 35.23%). A lesser amount of the housing stock also hails from between 1940-1969 ( 10.70%).

Carmel Home Appreciation Rates

Appreciation rates for homes in Carmel have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 42.68%, which ranks in the top 30% nationwide. This equates to an annual average Carmel house appreciation rate of 3.62%.

NeighborhoodScout's data show that during the latest twelve months, Carmel's appreciation rate, at 4.73%, has been at or slightly above the national average. In the latest quarter, Carmel's appreciation rate has been 1.70%, which annualizes to a rate of 6.97%.

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

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Carmel differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Carmel - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Carmel real estate investment or home purchase decisions.

Average Home Values


Median Home Value:


Value Range
> $1,219,000 2.1
$914,001 - $1,219,000 3.2
$610,001 - $914,000 12.1
$487,001 - $610,000 12.7
$366,001 - $487,000 23.1
$244,001 - $366,000 27.9
$122,001 - $244,000 15.7
$61,001 - $122,000 2.1
$0 - $61,000 1.1

Very High for IN
Very High for Nation

Value Relative to Nation Value Relative to State
12.8583941605839 1.35746606334842

Number Of Homes And Apartments:

Carmel Appreciation Rates

Time Period Total Appreciation Avg. Annual Rate Compared To
Compared To
Latest Quarter:
2020 Q2 - 2020 Q3
Last 12 Months:
2019 Q3 - 2020 Q3
Last 2 Years:
2018 Q3 - 2020 Q3
Last 5 Years:
2015 Q3 - 2020 Q3
Last 10 Years:
2010 Q3 - 2020 Q3
Since 2000:
2000 Q1 - 2020 Q3
65.76% 2.47%
* 10 is highest

Rent & Ownership


Average Market Rent:
$1,783 / per month

Homeownership Rate

Owners 77.12
Renters 22.88
Vacant 6.26

Housing Market Details


Age of Homes

2000 or Newer 35.2
1970 - 1999 53.1
1940 - 1969 10.7
1939 or Older 0.9

Types of Homes

Single-Family 73.5
Townhomes 4.3
Small Apt. Buildings 3.2
Apt. Complexes 18.8
Mobile Homes 0.1
Other 0.0

Home Size

No Bedroom 0.73
1 Bedroom 7.72
2 Bedrooms 16.20
3 Bedrooms 21.74
4 Bedrooms 38.27
5 or more bedrooms 15.33