Munster, IN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Munster, 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

Munster Housing Market Information

With 22,984 people, 8,659 houses or apartments, and a median cost of homes of $221,332, Munster real estate is some of the most expensive in Indiana, although Munster home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Munster, accounting for 76.17% of the town's housing units. Other types of housing that are prevalent in Munster include large apartment complexes or high rise apartments ( 13.63%), row houses and other attached homes ( 5.63%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.57%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Munster. Owner-occupied housing accounts for 83.50% of Munster's homes, and 68.09% 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. Munster's housing was primarily built during this period, from the '40s through the '60s. A full 43.38% of the town's housing hails from this era. Other housing ages represented in Munster include homes built between 1970-1999 ( 40.99%) and housing constructed between 2000 and later ( 10.21%). There's also some housing in Munster built before 1939 ( 5.42%).

Munster Home Appreciation Rates

Real estate appreciation rates in Munster's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.06% during the period.

Over the last year, Munster appreciation rates have trailed the rest of the nation. In the last twelve months, Munster's appreciation rate has been 3.02%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Munster were at 0.43%, which equates to an annual appreciation rate of 1.74%.

Relative to Indiana, our data show that Munster's latest annual appreciation rate is lower than 50% of the other cities and towns in Indiana.

Average Home Values

 

Median Home Value:
$221,332

Munster, IN HOME PRICES

Value Range
> $1,092,000 0.3
$819,001 - $1,092,000 1.4
$546,001 - $819,000 3.8
$437,001 - $546,000 5.1
$328,001 - $437,000 10.1
$218,001 - $328,000 31.8
$109,001 - $218,000 38.4
$55,001 - $109,000 5.6
$0 - $55,000 3.7

Very High for IN
High for Nation

Value Relative to Nation Value Relative to State
27.443454822454 4.52488687782805

Number Of Homes And Apartments:
8,659

Munster 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
25.57% 1.33% 7 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,228 / per month

Homeownership Rate

Homeownership
Owners 83.50
Renters 16.50
Vacant 5.74

Housing Market Details

 

Age of Homes

AGE OF Munster HOMES
2000 or Newer 10.2
1970 - 1999 41.0
1940 - 1969 43.4
1939 or Older 5.4

Types of Homes

TYPE OF Munster HOMES
Single-Family 76.2
Townhomes 5.6
Small Apt. Buildings 4.6
Apt. Complexes 13.6
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Munster HOMES
No Bedroom 0.13
1 Bedroom 5.17
2 Bedrooms 22.46
3 Bedrooms 44.86
4 Bedrooms 23.23
5 or more bedrooms 4.15