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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



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 Q3 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2021 (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 a population of 65,076, 26,435 total housing units (homes and apartments), and a median house value of $118,138, 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 63.85% of the city's housing units. Other types of housing that are prevalent in Muncie include large apartment complexes or high rise apartments ( 19.09%), duplexes, homes converted to apartments or other small apartment buildings ( 11.64%), and a few mobile homes or trailers ( 3.14%).

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 39.59% of the city's housing hails from this era. Other housing ages represented in Muncie include homes built between 1970-1999 ( 29.03%) and housing constructed before 1939 ( 22.50%). There's also some housing in Muncie built between 2000 and later ( 8.88%).

Vacant housing appears to be an issue in Muncie. Fully 14.88% 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

Appreciation rates for homes in Muncie have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 82.66%, which ranks in the top 50% nationwide. This equates to an annual average Muncie house appreciation rate of 6.21%.

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 12.82%, which is higher than appreciation rates in 98.26% 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 6.13%, which equates to an annual appreciation rate of 26.89%.

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

$118,138

Muncie, IN Home Prices
> $1,479,000
$1,109,001 - $1,479,000
$740,001 - $1,109,000
$591,001 - $740,000
$444,001 - $591,000
$296,001 - $444,000
$148,001 - $296,000
$74,001 - $148,000
$0 - $74,000
0.2%
0.2%
0.5%
0.5%
0.4%
0.4%
0.4%
0.4%
1.0%
1.0%
3.2%
3.2%
28.3%
28.3%
37.5%
37.5%
28.6%
28.6%
0% 100.0%
% of Homes
Very Low

for Indiana

Very Low

for nation

Number of Homes And Apartments:

26,435

Muncie Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,372 / per month

Homeownership Rate

Owners
Renters
Vacant
43.9%
43.9%
56.1%
56.1%
14.9%
14.9%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
8.9%
8.9%
29.0%
29.0%
39.6%
39.6%
22.5%
22.5%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
63.9%
63.9%
2.3%
2.3%
11.6%
11.6%
19.1%
19.1%
3.1%
3.1%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
3.3%
3.3%
12.5%
12.5%
33.4%
33.4%
39.8%
39.8%
8.6%
8.6%
2.5%
2.5%
0% 100.0%
% of Homes