Hobart, IN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Hobart, IN Real Estate Data


Hobart Housing Market Information

With 28,404 people, 11,542 houses or apartments, and a median cost of homes of $150,549, Hobart 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 Hobart, accounting for 76.07% of the city's housing units. Other types of housing that are prevalent in Hobart include large apartment complexes or high rise apartments ( 14.07%), row houses and other attached homes ( 4.86%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.44%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Hobart. Owner-occupied housing accounts for 71.48% of Hobart's homes, and 62.08% 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. Hobart's housing was primarily built during this period, from the '40s through the '60s. A full 40.31% of the city's housing hails from this era. Other housing ages represented in Hobart include homes built between 1970-1999 ( 30.64%) and housing constructed between 2000 and later ( 14.93%). There's also some housing in Hobart built before 1939 ( 14.12%).

Hobart Home Appreciation Rates

Real estate appreciation rates in Hobart's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 0.15% during the period.

NeighborhoodScout's data show that during the latest twelve months, Hobart's appreciation rate, at 5.13%, has been at or slightly above the national average. In the latest quarter, Hobart's appreciation rate has been 1.63%, which annualizes to a rate of 6.69%.

Relative to Indiana, our data show that Hobart's latest annual appreciation rate is lower than 60% 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 Hobart differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Hobart - 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 Hobart real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$150,549

Hobart, IN HOME PRICES

Value Range
> $1,103,000 0.2
$828,001 - $1,103,000 0.0
$552,001 - $828,000 0.1
$441,001 - $552,000 0.3
$331,001 - $441,000 1.6
$221,001 - $331,000 11.0
$110,001 - $221,000 62.9
$55,001 - $110,000 19.5
$0 - $55,000 4.4

High for IN
Average for Nation

Value Relative to Nation Value Relative to State
50.5358083972595 29.1855203619909

Number Of Homes And Apartments:
11,542

Rent & Ownership

 

Average Market Rent:
$962 / per month

Homeownership Rate

Homeownership
Owners 71.48
Renters 28.52
Vacant 5.33

Housing Market Details

 

Age of Homes

AGE OF Hobart HOMES
2000 or Newer 14.9
1970 - 1999 30.6
1940 - 1969 40.3
1939 or Older 14.1

Types of Homes

TYPE OF Hobart HOMES
Single-Family 76.1
Townhomes 4.9
Small Apt. Buildings 3.4
Apt. Complexes 14.1
Mobile Homes 1.6
Other 0.0

Home Size

SIZE OF Hobart HOMES
No Bedroom 0.84
1 Bedroom 9.56
2 Bedrooms 25.98
3 Bedrooms 49.23
4 Bedrooms 12.85
5 or more bedrooms 1.54

Hobart 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
21.27% 1.14% 5 2
* 10 is highest