Monroeville, 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 Q4 2020. 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

Monroeville, IN Housing Market Trends

With 1,341 people, 502 houses or apartments, and a median cost of homes of $127,317, house prices in Monroeville are solidly below the national average.

Single-family detached homes are the single most common housing type in Monroeville, accounting for 82.59% of the town's housing units. Other types of housing that are prevalent in Monroeville include mobile homes or trailers ( 9.59%), duplexes, homes converted to apartments or other small apartment buildings ( 4.09%), and a few large apartment complexes or high rise apartments ( 3.73%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Monroeville. Owner-occupied housing accounts for 76.86% of Monroeville's homes, and 65.54% have either three or four bedrooms, which is average sized relative to America.

The housing in Monroeville was primarily built before 1939 ( 38.72%), making the housing stock in Monroeville some of the oldest overall in America, although there is a range of ages of homes in Monroeville. The next most important housing age is between 1940-1969 ( 28.77%), followed by between 1970-1999 ( 27.53%). There's also some housing in Monroeville built between 2000 and later ( 4.97%).

Vacant housing appears to be an issue in Monroeville. Fully 10.83% of the housing stock is classified as vacant. Left unchecked, vacant Monroeville homes and apartments can be a drag on the real estate market, holding Monroeville 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.

Monroeville Home Appreciation Rates

Appreciation rates for homes in Monroeville have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 49.55%, which ranks in the top 30% nationwide. This equates to an annual average Monroeville house appreciation rate of 4.11%.

Appreciation rates are so strong in Monroeville that despite a nationwide downturn in the housing market, Monroeville real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Monroeville appreciation rates continue to be some of the highest in America, at 7.41%, which is higher than appreciation rates in 91.89% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Monroeville. Monroeville appreciation rates in the latest quarter were at 3.06%, which equates to an annual appreciation rate of 12.81%.

Importantly, this makes Monroeville one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.

Relative to Indiana, our data show that Monroeville's latest annual appreciation rate is higher than 90% of the other cities and towns in Indiana.

Average Home Values

 

Median Home Value:
$127,317

Monroeville, IN HOME PRICES

> $1,198,000
2.0%
2.0%
$899,001 - $1,198,000
0.0%
0.0%
$600,001 - $899,000
0.9%
0.9%
$480,001 - $600,000
0.9%
0.9%
$359,001 - $480,000
2.8%
2.8%
$240,001 - $359,000
9.7%
9.7%
$120,001 - $240,000
36.0%
36.0%
$60,001 - $120,000
39.6%
39.6%
$0 - $60,000
8.1%
8.1%
0.0% 100.0%
% OF HOMES
Value Relative To State

Low for Nation

Low for IN

Value Relative To Nation

Number Of Homes And Apartments:
502

Monroeville Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IN*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
44.93% 1.78%
5
2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$779 / per month

Homeownership Rate

Owners
76.9%
76.9%
Renters
23.1%
23.1%
Vacant
10.8%
10.8%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
5.0%
5.0%
1970 - 1999
27.5%
27.5%
1940 - 1969
28.8%
28.8%
1939 or Older
38.7%
38.7%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
82.6%
82.6%
Townhomes
0.0%
0.0%
Small Apt. Buildings
4.1%
4.1%
Apt. Complexes
3.7%
3.7%
Mobile Homes
9.6%
9.6%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.5%
0.5%
1 Bedroom
8.0%
8.0%
2 Bedrooms
23.1%
23.1%
3 Bedrooms
51.5%
51.5%
4 Bedrooms
14.0%
14.0%
5 or more bedrooms
2.8%
2.8%
0.0% 100.0%
% OF HOMES

Popular Neighborhoods in Monroeville

Zip Codes in Monroeville, IN