Elwood, IN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Elwood, IN Real Estate Data


Elwood Housing Market Information

With a population of 8,449, 3,320 total housing units (homes and apartments), and a median house value of $78,992, house prices in Elwood 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 Elwood, accounting for 77.69% of the city's housing units. Other types of housing that are prevalent in Elwood include duplexes, homes converted to apartments or other small apartment buildings ( 13.10%), large apartment complexes or high rise apartments ( 5.30%), and a few mobile homes or trailers ( 3.45%).

The most prevalent building size and type in Elwood are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 58.47% owning and 41.53% renting.

The housing in Elwood was primarily built before 1939 ( 47.69%), making the housing stock in Elwood some of the oldest overall in America, although there is a range of ages of homes in Elwood. The next most important housing age is between 1940-1969 ( 29.16%), followed by between 1970-1999 ( 18.83%). There's also some housing in Elwood built between 2000 and later ( 4.31%).

Vacant housing appears to be an issue in Elwood. Fully 15.74% of the housing stock is classified as vacant. Left unchecked, vacant Elwood homes and apartments can be a drag on the real estate market, holding Elwood 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.

Elwood Home Appreciation Rates

Real estate appreciation rates in Elwood's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.40% during the period.

NeighborhoodScout's data show that during the latest twelve months, Elwood's appreciation rate, at 5.31%, has been at or slightly above the national average. In the latest quarter, Elwood's appreciation rate has been 1.66%, which annualizes to a rate of 6.80%.

Relative to Indiana, our data show that Elwood's latest annual appreciation rate is lower than 50% of the other cities and towns in Indiana.

Average Home Values

 

Median Home Value:
$78,992

Elwood, IN HOME PRICES

Value Range
> $1,123,000 0.0
$842,001 - $1,123,000 0.0
$562,001 - $842,000 0.3
$450,001 - $562,000 0.0
$337,001 - $450,000 2.5
$225,001 - $337,000 2.7
$112,001 - $225,000 12.1
$56,001 - $112,000 53.7
$0 - $56,000 28.8

Very Low for IN
Very Low for Nation

Value Relative to Nation Value Relative to State
91.8135503894127 96.1538461538462

Number Of Homes And Apartments:
3,320

Rent & Ownership

 

Average Market Rent:
$803 / per month

Homeownership Rate

Homeownership
Owners 58.47
Renters 41.53
Vacant 15.74

Housing Market Details

 

Age of Homes

AGE OF Elwood HOMES
2000 or Newer 4.3
1970 - 1999 18.8
1940 - 1969 29.2
1939 or Older 47.7

Types of Homes

TYPE OF Elwood HOMES
Single-Family 77.7
Townhomes 0.5
Small Apt. Buildings 13.1
Apt. Complexes 5.3
Mobile Homes 3.5
Other 0.0

Home Size

SIZE OF Elwood HOMES
No Bedroom 0.00
1 Bedroom 9.11
2 Bedrooms 35.58
3 Bedrooms 42.18
4 Bedrooms 11.80
5 or more bedrooms 1.32

Elwood Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IN*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
-2.54% -0.15% 1 1
* 10 is highest