Greenwood, IN Real Estate Market

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 Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Greenwood, IN Housing Market Trends

With 59,458 people, 22,360 houses or apartments, and a median cost of homes of $206,564, Greenwood real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Greenwood, accounting for 58.37% of the city's housing units. Other types of housing that are prevalent in Greenwood include large apartment complexes or high rise apartments ( 24.22%), row houses and other attached homes ( 8.32%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.84%).

The most prevalent building size and type in Greenwood are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 57.62% owning and 42.38% renting.

There is a lot of housing in Greenwood 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 Greenwood built between 2000 and later ( 32.08%). A lesser amount of the housing stock also hails from between 1940-1969 ( 13.07%). There's also some housing in Greenwood built before 1939 ( 3.32%).

Greenwood Home Appreciation Rates

Appreciation rates for homes in Greenwood have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 51.77%, which ranks in the top 40% nationwide. This equates to an annual average Greenwood house appreciation rate of 4.26%.

NeighborhoodScout's data show that during the latest twelve months, Greenwood's appreciation rate, at 9.40%, has been at or slightly above the national average. In the latest quarter, Greenwood's appreciation rate has been 2.08%, which annualizes to a rate of 8.60%.

Relative to Indiana, our data show that Greenwood's latest annual appreciation rate is higher than 50% 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 Greenwood differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Greenwood - 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 Greenwood real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$206,564

Greenwood, IN HOME PRICES

> $1,264,000
0.3%
0.3%
$947,001 - $1,264,000
0.2%
0.2%
$632,001 - $947,000
0.7%
0.7%
$506,001 - $632,000
1.7%
1.7%
$379,001 - $506,000
6.5%
6.5%
$253,001 - $379,000
18.2%
18.2%
$126,001 - $253,000
58.4%
58.4%
$63,001 - $126,000
11.3%
11.3%
$0 - $63,000
2.7%
2.7%
0.0% 100.0%
% OF HOMES
Value Relative To State

Average for Nation

High for IN

Value Relative To Nation

Number Of Homes And Apartments:
22,360

Greenwood Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IN*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
53.26% 2.01%
5
2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,180 / per month

Homeownership Rate

Owners
57.6%
57.6%
Renters
42.4%
42.4%
Vacant
8.9%
8.9%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
32.1%
32.1%
1970 - 1999
51.5%
51.5%
1940 - 1969
13.1%
13.1%
1939 or Older
3.3%
3.3%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
58.4%
58.4%
Townhomes
8.3%
8.3%
Small Apt. Buildings
5.8%
5.8%
Apt. Complexes
24.2%
24.2%
Mobile Homes
3.3%
3.3%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.5%
0.5%
1 Bedroom
12.2%
12.2%
2 Bedrooms
26.8%
26.8%
3 Bedrooms
42.6%
42.6%
4 Bedrooms
15.5%
15.5%
5 or more bedrooms
2.4%
2.4%
0.0% 100.0%
% OF HOMES