Mitchell, IN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Mitchell Neighborhoods Since 2000




Mitchell, 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

Mitchell Housing Market Information

With 4,252 people, 1,938 houses or apartments, and a median cost of homes of $83,435, house prices in Mitchell are some of the most affordable in Indiana as well as the nation.

Single-family detached homes are the single most common housing type in Mitchell, accounting for 70.33% of the city's housing units. Other types of housing that are prevalent in Mitchell include mobile homes or trailers ( 12.91%), large apartment complexes or high rise apartments ( 10.82%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.48%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Mitchell. Owner-occupied housing accounts for 68.15% of Mitchell's homes, and 53.71% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Mitchell 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 Mitchell built before 1939 ( 27.81%). A lesser amount of the housing stock also hails from between 1940-1969 ( 22.14%). There's also some housing in Mitchell built between 2000 and later ( 11.19%).

Vacant housing appears to be an issue in Mitchell. Fully 10.03% of the housing stock is classified as vacant. Left unchecked, vacant Mitchell homes and apartments can be a drag on the real estate market, holding Mitchell 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.

Mitchell Home Appreciation Rates

Appreciation rates for homes in Mitchell have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 10.53%, which ranks in the top 30% nationwide. This equates to an annual average Mitchell house appreciation rate of 1.01%.

NeighborhoodScout's data show that during the latest twelve months, Mitchell's appreciation rate, at 4.18%, has been at or slightly above the national average. In the latest quarter, Mitchell's appreciation rate has been -1.14%, which annualizes to a rate of -4.49%.

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

Relative to Indiana, our data show that Mitchell's latest annual appreciation rate is higher than 60% of the other cities and towns in Indiana.

Average Home Values

 

Median Home Value:
$83,435

Mitchell, IN HOME PRICES

Value Range
> $1,087,000 0.1
$815,001 - $1,087,000 0.0
$544,001 - $815,000 1.1
$435,001 - $544,000 0.1
$326,001 - $435,000 1.5
$217,001 - $326,000 1.3
$109,001 - $217,000 23.3
$54,001 - $109,000 49.5
$0 - $54,000 23.1

Very Low for IN
Very Low for Nation

Value Relative to Nation Value Relative to State
88.3628266729169 89.5927601809955

Number Of Homes And Apartments:
1,938

Mitchell 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
31.35% 1.59% 9 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$645 / per month

Homeownership Rate

Homeownership
Owners 68.15
Renters 31.85
Vacant 10.03

Housing Market Details

 

Age of Homes

AGE OF Mitchell HOMES
2000 or Newer 11.2
1970 - 1999 38.9
1940 - 1969 22.1
1939 or Older 27.8

Types of Homes

TYPE OF Mitchell HOMES
Single-Family 70.3
Townhomes 0.5
Small Apt. Buildings 5.5
Apt. Complexes 10.8
Mobile Homes 12.9
Other 0.0

Home Size

SIZE OF Mitchell HOMES
No Bedroom 0.00
1 Bedroom 10.82
2 Bedrooms 32.82
3 Bedrooms 48.19
4 Bedrooms 5.52
5 or more bedrooms 2.65

Popular Neighborhoods in Mitchell

Popular Communities Near Mitchell, IN

Zip Codes in Mitchell, IN