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 88,713 people, 31,462 houses or apartments, and a median cost of homes of $395,968, 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 77.28% of Carmel's homes, and 62.14% 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 ( 33.29%). A lesser amount of the housing stock also hails from between 1940-1969 ( 10.89%).
In the last 10 years, Carmel has experienced some of the highest home appreciation rates of any community in the nation. Carmel real estate appreciated 18.39% over the last ten years, which is an average annual home appreciation rate of 1.70%, putting Carmel in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Carmel definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Appreciation rates are so strong in Carmel that despite a nationwide downturn in the housing market, Carmel real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Carmel appreciation rates continue to be some of the highest in America, at 7.52%, which is higher than appreciation rates in 79.49% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Carmel. Carmel appreciation rates in the latest quarter were at 4.94%, which equates to an annual appreciation rate of 21.27%.
Importantly, NeighborhoodScout’s exclusive research found that Carmel's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which may signal the city’s near-future real estate investment strength.
Relative to Indiana, our data show that Carmel's latest annual appreciation rate is higher than 90% 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.
|$888,001 - $1,185,000||3.0|
|$592,001 - $888,000||11.2|
|$474,001 - $592,000||11.2|
|$355,001 - $474,000||20.4|
|$237,001 - $355,000||28.2|
|$118,001 - $237,000||20.1|
|$59,001 - $118,000||2.8|
|$0 - $59,000||1.5|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2017 Q1 - 2017 Q2
Last 12 Months:
2016 Q2 - 2017 Q2
Last 2 Years:
2015 Q2 - 2017 Q2
Last 5 Years:
2012 Q2 - 2017 Q2
Last 10 Years:
2007 Q2 - 2017 Q2
2000 Q1 - 2017 Q2
|* 10 is highest|
|AGE OF Carmel HOMES|
|2000 or Newer||33.3|
|1970 - 1999||55.0|
|1940 - 1969||10.9|
|1939 or Older||0.8|
|TYPE OF Carmel HOMES|
|Small Apt. Buildings||2.4|
|SIZE OF Carmel HOMES|
|5 or more bedrooms||14.19|