East Chicago, IN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating East Chicago Neighborhoods Since 2000




East Chicago, 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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

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

East Chicago Housing Market Information

With a population of 28,699, 10,106 total housing units (homes and apartments), and a median house value of $87,943, 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 Home Appreciation Rates

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 -1.44%, 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 10.82%, which is higher than appreciation rates in 95.73% 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 0.43%, which equates to an annual appreciation rate of 1.74%.

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.

Average Home Values

 

Median Home Value:
$87,943

East Chicago, IN HOME PRICES

Value Range
> $1,140,000 0.0
$855,001 - $1,140,000 0.0
$570,001 - $855,000 0.3
$456,001 - $570,000 0.0
$342,001 - $456,000 0.1
$228,001 - $342,000 2.6
$114,001 - $228,000 20.5
$57,001 - $114,000 52.6
$0 - $57,000 23.8

Very Low for IN
Very Low for Nation

Value Relative to Nation Value Relative to State
85.5326379936716 85.972850678733

Number Of Homes And Apartments:
10,106

East Chicago Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IN*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
-2.17% -0.13% 1 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$873 / per month

Homeownership Rate

Homeownership
Owners 44.39
Renters 55.61
Vacant 24.45

Housing Market Details

 

Age of Homes

AGE OF East Chicago HOMES
2000 or Newer 2.4
1970 - 1999 12.1
1940 - 1969 34.6
1939 or Older 50.9

Types of Homes

TYPE OF East Chicago HOMES
Single-Family 42.7
Townhomes 7.2
Small Apt. Buildings 30.4
Apt. Complexes 19.6
Mobile Homes 0.2
Other 0.0

Home Size

SIZE OF East Chicago HOMES
No Bedroom 2.33
1 Bedroom 13.46
2 Bedrooms 34.49
3 Bedrooms 36.66
4 Bedrooms 8.72
5 or more bedrooms 4.34