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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 16,287, 6,576 total housing units (homes and apartments), and a median house value of $216,255, house prices in Griffith are solidly below the national average.
Single-family detached homes are the single most common housing type in Griffith, accounting for 70.32% of the town's housing units. Other types of housing that are prevalent in Griffith include large apartment complexes or high rise apartments ( 22.89%), row houses and other attached homes ( 3.50%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.02%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Griffith. Owner-occupied housing accounts for 73.46% of Griffith's homes, and 61.02% have either three or four bedrooms, which is average sized relative to America.
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. Griffith's housing was primarily built during this period, from the '40s through the '60s. A full 49.72% of the town's housing hails from this era. Other housing ages represented in Griffith include homes built between 1970-1999 ( 37.45%) and housing constructed before 1939 ( 7.29%). There's also some housing in Griffith built between 2000 and later ( 5.54%).
Real estate appreciation rates in Griffith's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.98% during the period.
Over the last year, Griffith appreciation rates have trailed the rest of the nation. In the last twelve months, Griffith's appreciation rate has been 4.77%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Griffith were at 0.21%, which equates to an annual appreciation rate of 0.86%.
Relative to Indiana, our data show that Griffith's latest annual appreciation rate is lower than 70% of the other cities and towns in Indiana.
$216,255
for Indiana
for nation
6,576
$1,809 / per month