Elkhart, IN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Elkhart Neighborhoods Since 2000




Elkhart, 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

Elkhart Housing Market Information

With 52,348 people, 19,232 houses or apartments, and a median cost of homes of $99,419, house prices in Elkhart are solidly below the national average.

Single-family detached homes are the single most common housing type in Elkhart, accounting for 56.36% of the city's housing units. Other types of housing that are prevalent in Elkhart include large apartment complexes or high rise apartments ( 22.49%), duplexes, homes converted to apartments or other small apartment buildings ( 12.40%), and a few mobile homes or trailers ( 7.24%).

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

There is a lot of housing in Elkhart 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 Elkhart built between 1940-1969 ( 31.88%). A lesser amount of the housing stock also hails from before 1939 ( 26.89%). There's also some housing in Elkhart built between 2000 and later ( 4.98%).

Vacant housing appears to be an issue in Elkhart. Fully 15.49% of the housing stock is classified as vacant. Left unchecked, vacant Elkhart homes and apartments can be a drag on the real estate market, holding Elkhart 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.

Elkhart Home Appreciation Rates

Real estate appreciation rates in Elkhart's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.55% during the period.

NeighborhoodScout's data show that during the latest twelve months, Elkhart's appreciation rate, at 4.25%, has been at or slightly above the national average. In the latest quarter, Elkhart's appreciation rate has been 1.08%, which annualizes to a rate of 4.38%.

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

Average Home Values

 

Median Home Value:
$99,419

Elkhart, IN HOME PRICES

Value Range
> $1,128,000 0.2
$846,001 - $1,128,000 0.0
$564,001 - $846,000 0.5
$451,001 - $564,000 0.6
$339,001 - $451,000 0.9
$226,001 - $339,000 4.7
$113,001 - $226,000 33.2
$56,001 - $113,000 43.8
$0 - $56,000 16.1

Low for IN
Low for Nation

Value Relative to Nation Value Relative to State
77.9151529356616 76.0180995475113

Number Of Homes And Apartments:
19,232

Elkhart 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
8.73% 0.49% 2 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$816 / per month

Homeownership Rate

Homeownership
Owners 47.37
Renters 52.63
Vacant 15.49

Housing Market Details

 

Age of Homes

AGE OF Elkhart HOMES
2000 or Newer 5.0
1970 - 1999 36.2
1940 - 1969 31.9
1939 or Older 26.9

Types of Homes

TYPE OF Elkhart HOMES
Single-Family 56.4
Townhomes 1.5
Small Apt. Buildings 12.4
Apt. Complexes 22.5
Mobile Homes 7.2
Other 0.0

Home Size

SIZE OF Elkhart HOMES
No Bedroom 2.24
1 Bedroom 15.95
2 Bedrooms 35.46
3 Bedrooms 33.17
4 Bedrooms 10.85
5 or more bedrooms 2.33