Greencastle, IN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Greencastle, 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

Greencastle Housing Market Information

With a population of 10,401, 2,999 total housing units (homes and apartments), and a median house value of $128,994, house prices in Greencastle are solidly below the national average.

Single-family detached homes are the single most common housing type in Greencastle, accounting for 62.64% of the city's housing units. Other types of housing that are prevalent in Greencastle include duplexes, homes converted to apartments or other small apartment buildings ( 16.17%), large apartment complexes or high rise apartments ( 13.26%), and a few mobile homes or trailers ( 4.44%).

People in Greencastle primarily live in small (one, two or no bedroom) single-family detached homes. Greencastle 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. Greencastle's housing was primarily built during this period, from the '40s through the '60s. A full 35.87% of the city's housing hails from this era. Other housing ages represented in Greencastle include homes built between 1970-1999 ( 27.32%) and housing constructed before 1939 ( 21.89%). There's also some housing in Greencastle built between 2000 and later ( 14.92%).

Vacant housing appears to be an issue in Greencastle. Fully 16.81% of the housing stock is classified as vacant. Left unchecked, vacant Greencastle homes and apartments can be a drag on the real estate market, holding Greencastle 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.

Greencastle Home Appreciation Rates

Real estate appreciation rates in Greencastle's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.17% during the period.

Over the last year, Greencastle appreciation rates have trailed the rest of the nation. In the last twelve months, Greencastle's appreciation rate has been 0.45%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Greencastle were at -0.60%, which equates to an annual appreciation rate of -2.40%.

Notably, Greencastle's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Indiana, our data show that Greencastle's latest annual appreciation rate is lower than 80% of the other cities and towns in Indiana.

Average Home Values

 

Median Home Value:
$128,994

Greencastle, IN HOME PRICES

Value Range
> $1,056,000 0.0
$792,001 - $1,056,000 0.7
$528,001 - $792,000 0.0
$422,001 - $528,000 0.3
$317,001 - $422,000 2.6
$211,001 - $317,000 12.3
$105,001 - $211,000 50.0
$53,001 - $105,000 27.7
$0 - $53,000 6.4

Average for IN
Low for Nation

Value Relative to Nation Value Relative to State
60.4593929450369 45.9276018099548

Number Of Homes And Apartments:
2,999

Greencastle 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
8.42% 0.47% 2 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$760 / per month

Homeownership Rate

Homeownership
Owners 39.02
Renters 60.98
Vacant 16.81

Housing Market Details

 

Age of Homes

AGE OF Greencastle HOMES
2000 or Newer 14.9
1970 - 1999 27.3
1940 - 1969 35.9
1939 or Older 21.9

Types of Homes

TYPE OF Greencastle HOMES
Single-Family 62.6
Townhomes 3.5
Small Apt. Buildings 16.2
Apt. Complexes 13.3
Mobile Homes 4.4
Other 0.0

Home Size

SIZE OF Greencastle HOMES
No Bedroom 3.05
1 Bedroom 13.48
2 Bedrooms 37.28
3 Bedrooms 35.48
4 Bedrooms 5.10
5 or more bedrooms 5.60

Zip Codes in Greencastle, IN