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 28,699 people, 10,106 houses or apartments, and a median cost of homes of $90,057, house prices in East Chicago 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 East Chicago, accounting for 42.66% of the city's housing units. Other types of housing that are prevalent in East Chicago include duplexes, homes converted to apartments or other small apartment buildings ( 30.36%), large apartment complexes or high rise apartments ( 19.58%), and a few row houses and other attached homes ( 7.19%).
People in East Chicago primarily live in small (one, two or no bedroom) single-family detached homes. East Chicago has a mixture of owner-occupied and renter-occupied housing.
The housing in East Chicago was primarily built before 1939 ( 50.89%), making the housing stock in East Chicago some of the oldest overall in America, although there is a range of ages of homes in East Chicago. The next most important housing age is between 1940-1969 ( 34.64%), followed by between 1970-1999 ( 12.07%). There's also some housing in East Chicago built between 2000 and later ( 2.41%).
Vacant housing appears to be an issue in East Chicago. Fully 24.45% of the housing stock is classified as vacant. Left unchecked, vacant East Chicago homes and apartments can be a drag on the real estate market, holding East Chicago 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.
East Chicago's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in East Chicago during the period has been just -1.25%, which is lower than 80% of US communities.
Appreciation rates are so strong in East Chicago that despite a nationwide downturn in the housing market, East Chicago real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, East Chicago appreciation rates continue to be some of the highest in America, at 8.34%, which is higher than appreciation rates in 84.57% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in East Chicago. East Chicago appreciation rates in the latest quarter were at 2.05%, which equates to an annual appreciation rate of 8.46%.
Relative to Indiana, our data show that East Chicago'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 East Chicago differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in East Chicago - 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 East Chicago real estate investment or home purchase decisions.
|$875,001 - $1,167,000||0.0|
|$584,001 - $875,000||0.3|
|$467,001 - $584,000||0.0|
|$350,001 - $467,000||0.1|
|$234,001 - $350,000||2.6|
|$117,001 - $234,000||20.5|
|$58,001 - $117,000||52.6|
|$0 - $58,000||23.8|
|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 East Chicago HOMES|
|2000 or Newer||2.4|
|1970 - 1999||12.1|
|1940 - 1969||34.6|
|1939 or Older||50.9|
|TYPE OF East Chicago HOMES|
|Small Apt. Buildings||30.4|
|SIZE OF East Chicago HOMES|
|5 or more bedrooms||4.34|