Griffith, IN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Griffith, IN Real Estate Data


Griffith Housing Market Information

With 16,378 people, 6,345 houses or apartments, and a median cost of homes of $160,468, Griffith 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 Griffith, accounting for 68.24% of the town's housing units. Other types of housing that are prevalent in Griffith include large apartment complexes or high rise apartments ( 23.66%), duplexes, homes converted to apartments or other small apartment buildings ( 4.24%), and a few row houses and other attached homes ( 3.11%).

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 65.88% of Griffith's homes, and 57.79% 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 47.38% of the town's housing hails from this era. Other housing ages represented in Griffith include homes built between 1970-1999 ( 38.81%) and housing constructed before 1939 ( 7.62%). There's also some housing in Griffith built between 2000 and later ( 6.19%).

Griffith Home Appreciation Rates

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 0.07% during the period.

NeighborhoodScout's data show that during the latest twelve months, Griffith's appreciation rate, at 5.51%, has been at or slightly above the national average. In the latest quarter, Griffith's appreciation rate has been 1.63%, which annualizes to a rate of 6.69%.

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

Average Home Values

 

Median Home Value:
$160,468

Griffith, IN HOME PRICES

Value Range
> $1,110,000 0.2
$832,001 - $1,110,000 0.0
$555,001 - $832,000 0.2
$444,001 - $555,000 0.0
$333,001 - $444,000 1.1
$222,001 - $333,000 11.0
$111,001 - $222,000 70.8
$55,001 - $111,000 13.1
$0 - $55,000 3.5

High for IN
Average for Nation

Value Relative to Nation Value Relative to State
46.5245652046612 23.5294117647059

Number Of Homes And Apartments:
6,345

Rent & Ownership

 

Average Market Rent:
$980 / per month

Homeownership Rate

Homeownership
Owners 65.88
Renters 34.12
Vacant 6.48

Housing Market Details

 

Age of Homes

AGE OF Griffith HOMES
2000 or Newer 6.2
1970 - 1999 38.8
1940 - 1969 47.4
1939 or Older 7.6

Types of Homes

TYPE OF Griffith HOMES
Single-Family 68.2
Townhomes 3.1
Small Apt. Buildings 4.2
Apt. Complexes 23.7
Mobile Homes 0.8
Other 0.0

Home Size

SIZE OF Griffith HOMES
No Bedroom 1.53
1 Bedroom 8.24
2 Bedrooms 26.56
3 Bedrooms 43.27
4 Bedrooms 14.52
5 or more bedrooms 5.88

Griffith 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
18.29% 0.99% 4 2
* 10 is highest