Centerville, IN Real Estate Market

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 Q4 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

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

Centerville, IN Housing Market Trends

With 2,579 people, 1,028 houses or apartments, and a median cost of homes of $99,289, house prices in Centerville are some of the most affordable in Indiana as well as the nation.

Single-family detached homes are the single most common housing type in Centerville, accounting for 85.22% of the town's housing units. Other types of housing that are prevalent in Centerville include duplexes, homes converted to apartments or other small apartment buildings ( 10.09%), large apartment complexes or high rise apartments ( 2.17%), and a few row houses and other attached homes ( 2.00%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Centerville. Owner-occupied housing accounts for 71.86% of Centerville's homes, and 59.30% have either three or four bedrooms, which is average sized relative to America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Centerville's housing was primarily built during this period, from the '40s through the '60s. A full 35.74% of the town's housing hails from this era. Other housing ages represented in Centerville include homes built before 1939 ( 30.78%) and housing constructed between 1970-1999 ( 26.87%). There's also some housing in Centerville built between 2000 and later ( 6.61%).

Vacant housing appears to be an issue in Centerville. Fully 10.61% of the housing stock is classified as vacant. Left unchecked, vacant Centerville homes and apartments can be a drag on the real estate market, holding Centerville 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.

Centerville Home Appreciation Rates

Centerville's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Centerville during the period has been just 1.45%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Centerville's appreciation rate, at 6.12%, has been at or slightly above the national average. In the latest quarter, Centerville's appreciation rate has been 2.26%, which annualizes to a rate of 9.37%.

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

Average Home Values

 

Median Home Value:
$99,289

Centerville, IN HOME PRICES

> $1,122,000
0.0%
0.0%
$842,001 - $1,122,000
0.6%
0.6%
$561,001 - $842,000
0.8%
0.8%
$449,001 - $561,000
0.5%
0.5%
$337,001 - $449,000
0.5%
0.5%
$225,001 - $337,000
6.6%
6.6%
$112,001 - $225,000
31.3%
31.3%
$56,001 - $112,000
52.3%
52.3%
$0 - $56,000
7.5%
7.5%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very Low for Nation

Very Low for IN

Value Relative To Nation

Number Of Homes And Apartments:
1,028

Centerville Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IN*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
11.56% 0.52%
1
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,164 / per month

Homeownership Rate

Owners
71.9%
71.9%
Renters
28.1%
28.1%
Vacant
10.6%
10.6%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
6.6%
6.6%
1970 - 1999
26.9%
26.9%
1940 - 1969
35.7%
35.7%
1939 or Older
30.8%
30.8%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
85.2%
85.2%
Townhomes
2.0%
2.0%
Small Apt. Buildings
10.1%
10.1%
Apt. Complexes
2.2%
2.2%
Mobile Homes
0.5%
0.5%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.7%
1.7%
1 Bedroom
5.0%
5.0%
2 Bedrooms
31.8%
31.8%
3 Bedrooms
44.1%
44.1%
4 Bedrooms
15.2%
15.2%
5 or more bedrooms
2.2%
2.2%
0.0% 100.0%
% OF HOMES

Popular Neighborhoods in Centerville

Zip Codes in Centerville, IN