Connersville, 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

Connersville, IN Housing Market Trends

With 12,796 people, 5,684 houses or apartments, and a median cost of homes of $83,051, house prices in Connersville 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 Connersville, accounting for 76.68% of the city's housing units. Other types of housing that are prevalent in Connersville include large apartment complexes or high rise apartments ( 11.44%), duplexes, homes converted to apartments or other small apartment buildings ( 8.46%), and a few mobile homes or trailers ( 2.83%).

People in Connersville primarily live in small (one, two or no bedroom) single-family detached homes. Connersville has a mixture of owner-occupied and renter-occupied housing.

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. Connersville's housing was primarily built during this period, from the '40s through the '60s. A full 43.07% of the city's housing hails from this era. Other housing ages represented in Connersville include homes built before 1939 ( 26.92%) and housing constructed between 1970-1999 ( 26.67%). There's also some housing in Connersville built between 2000 and later ( 3.34%).

Vacant housing appears to be an issue in Connersville. Fully 12.92% of the housing stock is classified as vacant. Left unchecked, vacant Connersville homes and apartments can be a drag on the real estate market, holding Connersville 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.

Connersville Home Appreciation Rates

Connersville's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Connersville during the period has been just 1.85%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Connersville's appreciation rate, at 6.21%, has been at or slightly above the national average. In the latest quarter, Connersville's appreciation rate has been 2.35%, which annualizes to a rate of 9.73%.

Relative to Indiana, our data show that Connersville'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 Connersville differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Connersville - 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 Connersville real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$83,051

Connersville, IN HOME PRICES

> $1,142,000
0.2%
0.2%
$857,001 - $1,142,000
0.3%
0.3%
$571,001 - $857,000
0.0%
0.0%
$457,001 - $571,000
0.0%
0.0%
$343,001 - $457,000
0.8%
0.8%
$228,001 - $343,000
1.9%
1.9%
$115,001 - $228,000
21.2%
21.2%
$57,001 - $115,000
47.6%
47.6%
$0 - $57,000
27.9%
27.9%
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:
5,684

Connersville 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
10.25% 0.47%
1
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$925 / per month

Homeownership Rate

Owners
57.4%
57.4%
Renters
42.6%
42.6%
Vacant
12.9%
12.9%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
3.3%
3.3%
1970 - 1999
26.7%
26.7%
1940 - 1969
43.1%
43.1%
1939 or Older
26.9%
26.9%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
76.7%
76.7%
Townhomes
0.6%
0.6%
Small Apt. Buildings
8.5%
8.5%
Apt. Complexes
11.4%
11.4%
Mobile Homes
2.8%
2.8%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
4.1%
4.1%
1 Bedroom
8.4%
8.4%
2 Bedrooms
36.3%
36.3%
3 Bedrooms
38.3%
38.3%
4 Bedrooms
10.1%
10.1%
5 or more bedrooms
2.7%
2.7%
0.0% 100.0%
% OF HOMES