Nappanee, IN


Highest Appreciating Nappanee Neighborhoods Since 2000

Nappanee, 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

Nappanee Housing Market Information

With 6,787 people, 2,458 houses or apartments, and a median cost of homes of $147,356, Nappanee real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Nappanee, accounting for 66.55% of the city's housing units. Other types of housing that are prevalent in Nappanee include duplexes, homes converted to apartments or other small apartment buildings ( 13.71%), large apartment complexes or high rise apartments ( 10.51%), and a few mobile homes or trailers ( 5.11%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Nappanee. Owner-occupied housing accounts for 68.18% of Nappanee's homes, and 59.80% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Nappanee built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Nappanee built between 1940-1969 ( 22.09%). A lesser amount of the housing stock also hails from before 1939 ( 18.11%). There's also some housing in Nappanee built between 2000 and later ( 15.77%).

Vacant housing appears to be an issue in Nappanee. Fully 12.71% of the housing stock is classified as vacant. Left unchecked, vacant Nappanee homes and apartments can be a drag on the real estate market, holding Nappanee 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.

Nappanee Home Appreciation Rates

Appreciation rates for homes in Nappanee have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 1.96%, which ranks in the top 50% nationwide. This equates to an annual average Nappanee house appreciation rate of 0.19%.

Appreciation rates are so strong in Nappanee that despite a nationwide downturn in the housing market, Nappanee real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Nappanee appreciation rates continue to be some of the highest in America, at 6.81%, which is higher than appreciation rates in 80.02% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Nappanee. Nappanee appreciation rates in the latest quarter were at 0.90%, which equates to an annual appreciation rate of 3.64%.

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

Average Home Values


Median Home Value:


Value Range
> $1,126,000 1.1
$845,001 - $1,126,000 0.1
$563,001 - $845,000 2.9
$451,001 - $563,000 0.4
$338,001 - $451,000 4.4
$225,001 - $338,000 8.9
$112,001 - $225,000 60.6
$57,001 - $112,000 19.0
$0 - $57,000 2.7

High for IN
Average for Nation

Value Relative to Nation Value Relative to State
51.1367631548107 30.0904977375566

Number Of Homes And Apartments:

Nappanee Appreciation Rates

Time Period Total Appreciation Avg. Annual Rate Compared To
Compared To
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
23.56% 1.23% 7 2
* 10 is highest

Rent & Ownership


Average Market Rent:
$535 / per month

Homeownership Rate

Owners 68.18
Renters 31.82
Vacant 12.71

Housing Market Details


Age of Homes

2000 or Newer 15.8
1970 - 1999 44.0
1940 - 1969 22.1
1939 or Older 18.1

Types of Homes

Single-Family 66.5
Townhomes 4.1
Small Apt. Buildings 13.7
Apt. Complexes 10.5
Mobile Homes 5.1
Other 0.0

Home Size

No Bedroom 2.31
1 Bedroom 12.07
2 Bedrooms 24.89
3 Bedrooms 43.08
4 Bedrooms 16.73
5 or more bedrooms 0.92

Popular Neighborhoods in Nappanee

Zip Codes in Nappanee, IN