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 Q2 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

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

Carmel Housing Market Information

With 92,198 people, 33,158 houses or apartments, and a median cost of homes of $389,160, 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 77.13% of Carmel's homes, and 60.29% 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 ( 33.48%). A lesser amount of the housing stock also hails from between 1940-1969 ( 10.44%).

Carmel Home Appreciation Rates

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 35.09% over the last ten years, which is an average annual home appreciation rate of 3.05%, 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 4.73%, which is higher than appreciation rates in 70.20% 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 1.12%, which equates to an annual appreciation rate of 4.54%.

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
> $1,230,000 2.0
$923,001 - $1,230,000 3.3
$615,001 - $923,000 11.5
$492,001 - $615,000 11.7
$369,001 - $492,000 22.2
$246,001 - $369,000 28.4
$123,001 - $246,000 17.4
$61,001 - $123,000 2.0
$0 - $61,000 1.4

Very High for IN
Very High for Nation

Value Relative to Nation Value Relative to State
12.0583941605839 1.35746606334842

Number Of Homes And Apartments:

Carmel Appreciation Rates

Time Period Total Appreciation Avg. Annual Rate Compared To
Compared To
Latest Quarter:
2019 Q1 - 2019 Q2
Last 12 Months:
2018 Q2 - 2019 Q2
Last 2 Years:
2017 Q2 - 2019 Q2
Last 5 Years:
2014 Q2 - 2019 Q2
Last 10 Years:
2009 Q2 - 2019 Q2
Since 2000:
2000 Q1 - 2019 Q2
59.10% 2.41%
* 10 is highest

Rent & Ownership


Average Market Rent:
$1,732 / per month

Homeownership Rate

Owners 77.13
Renters 22.87
Vacant 6.01

Housing Market Details


Age of Homes

2000 or Newer 33.5
1970 - 1999 55.2
1940 - 1969 10.4
1939 or Older 0.8

Types of Homes

Single-Family 73.9
Townhomes 4.2
Small Apt. Buildings 2.9
Apt. Complexes 18.8
Mobile Homes 0.2
Other 0.0

Home Size

No Bedroom 0.67
1 Bedroom 7.97
2 Bedrooms 15.86
3 Bedrooms 21.26
4 Bedrooms 39.03
5 or more bedrooms 15.21