Munster, 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

Munster, IN Housing Market Trends

With 22,476 people, 8,635 houses or apartments, and a median cost of homes of $247,059, 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 77.94% of the town's housing units. Other types of housing that are prevalent in Munster include large apartment complexes or high rise apartments ( 11.27%), row houses and other attached homes ( 7.58%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.91%).

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 86.60% of Munster's homes, and 69.94% 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 42.91% 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 ( 11.39%). There's also some housing in Munster built before 1939 ( 4.71%).

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 2.41% 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 2.66%, 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 1.27%, which equates to an annual appreciation rate of 5.17%.

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

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

Average Home Values

 
info

Median Home Value:
$247,059

Munster, IN HOME PRICES

> $1,127,000
0.7%
0.7%
$845,001 - $1,127,000
0.8%
0.8%
$563,001 - $845,000
5.8%
5.8%
$451,001 - $563,000
7.0%
7.0%
$338,001 - $451,000
11.8%
11.8%
$225,001 - $338,000
37.4%
37.4%
$113,001 - $225,000
31.1%
31.1%
$56,001 - $113,000
3.8%
3.8%
$0 - $56,000
1.7%
1.7%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

Very High for IN

Value Relative To Nation

Number Of Homes And Apartments:
8,635

Munster 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
44.96% 1.78%
5
2
* 10 is highest

Rent & Ownership

 
info

Average Market Rent:
$1,494 / per month

Homeownership Rate

Owners
86.6%
86.6%
Renters
13.4%
13.4%
Vacant
6.0%
6.0%
0.0% 100.0%
% OF HOMES

Housing Market Details

 
info

Age of Homes

2000 or Newer
11.4%
11.4%
1970 - 1999
41.0%
41.0%
1940 - 1969
42.9%
42.9%
1939 or Older
4.7%
4.7%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
77.9%
77.9%
Townhomes
7.6%
7.6%
Small Apt. Buildings
2.9%
2.9%
Apt. Complexes
11.3%
11.3%
Mobile Homes
0.3%
0.3%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.7%
0.7%
1 Bedroom
2.4%
2.4%
2 Bedrooms
21.1%
21.1%
3 Bedrooms
45.6%
45.6%
4 Bedrooms
24.3%
24.3%
5 or more bedrooms
5.7%
5.7%
0.0% 100.0%
% OF HOMES