Muncie, 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 Q2 2021. 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

Muncie, IN Housing Market Trends

With 67,999 people, 27,363 houses or apartments, and a median cost of homes of $103,920, house prices in Muncie 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 Muncie, accounting for 63.92% of the city's housing units. Other types of housing that are prevalent in Muncie include large apartment complexes or high rise apartments ( 18.84%), duplexes, homes converted to apartments or other small apartment buildings ( 12.19%), and a few mobile homes or trailers ( 3.15%).

People in Muncie primarily live in small (one, two or no bedroom) single-family detached homes. Muncie has a mixture of owner-occupied and renter-occupied housing.

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. Muncie's housing was primarily built during this period, from the '40s through the '60s. A full 41.10% of the city's housing hails from this era. Other housing ages represented in Muncie include homes built between 1970-1999 ( 28.26%) and housing constructed before 1939 ( 22.93%). There's also some housing in Muncie built between 2000 and later ( 7.70%).

Vacant housing appears to be an issue in Muncie. Fully 15.81% of the housing stock is classified as vacant. Left unchecked, vacant Muncie homes and apartments can be a drag on the real estate market, holding Muncie 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.

Muncie Home Appreciation Rates

Real estate appreciation rates in Muncie's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 3.50% during the period.

Appreciation rates are so strong in Muncie that despite a nationwide downturn in the housing market, Muncie real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Muncie appreciation rates continue to be some of the highest in America, at 12.65%, which is higher than appreciation rates in 87.51% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Muncie. Muncie appreciation rates in the latest quarter were at 3.67%, which equates to an annual appreciation rate of 15.50%.

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

Relative to Indiana, our data show that Muncie's latest annual appreciation rate is higher than 90% 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 Muncie differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Muncie - 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 Muncie real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$103,920

Muncie, IN HOME PRICES

> $1,254,000
0.2%
0.2%
$941,001 - $1,254,000
0.5%
0.5%
$627,001 - $941,000
0.6%
0.6%
$502,001 - $627,000
0.6%
0.6%
$376,001 - $502,000
1.3%
1.3%
$251,001 - $376,000
3.2%
3.2%
$125,001 - $251,000
21.4%
21.4%
$63,001 - $125,000
40.2%
40.2%
$0 - $63,000
32.0%
32.0%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very Low for Nation

Very Low for IN

Value Relative To Nation

Number Of Homes And Apartments:
27,363

Muncie Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IN*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
31.79% 1.29%
1
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$981 / per month

Homeownership Rate

Owners
44.4%
44.4%
Renters
55.6%
55.6%
Vacant
15.8%
15.8%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
7.7%
7.7%
1970 - 1999
28.3%
28.3%
1940 - 1969
41.1%
41.1%
1939 or Older
22.9%
22.9%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
63.9%
63.9%
Townhomes
1.9%
1.9%
Small Apt. Buildings
12.2%
12.2%
Apt. Complexes
18.8%
18.8%
Mobile Homes
3.2%
3.2%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
2.4%
2.4%
1 Bedroom
12.8%
12.8%
2 Bedrooms
34.9%
34.9%
3 Bedrooms
38.5%
38.5%
4 Bedrooms
9.1%
9.1%
5 or more bedrooms
2.4%
2.4%
0.0% 100.0%
% OF HOMES