New Haven, 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

New Haven, IN Housing Market Trends

With 15,922 people, 6,205 houses or apartments, and a median cost of homes of $142,047, house prices in New Haven are solidly below the national average.

Single-family detached homes are the single most common housing type in New Haven, accounting for 76.04% of the city's housing units. Other types of housing that are prevalent in New Haven include mobile homes or trailers ( 10.05%), large apartment complexes or high rise apartments ( 7.48%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.33%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in New Haven. Owner-occupied housing accounts for 74.81% of New Haven's homes, and 73.19% 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. New Haven's housing was primarily built during this period, from the '40s through the '60s. A full 39.18% of the city's housing hails from this era. Other housing ages represented in New Haven include homes built between 1970-1999 ( 34.71%) and housing constructed between 2000 and later ( 19.33%). There's also some housing in New Haven built before 1939 ( 6.78%).

New Haven Home Appreciation Rates

Appreciation rates for homes in New Haven have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 34.05%, which ranks in the top 50% nationwide. This equates to an annual average New Haven house appreciation rate of 2.97%.

Appreciation rates are so strong in New Haven that despite a nationwide downturn in the housing market, New Haven real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, New Haven appreciation rates continue to be some of the highest in America, at 7.41%, which is higher than appreciation rates in 91.87% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in New Haven. New Haven appreciation rates in the latest quarter were at 3.06%, which equates to an annual appreciation rate of 12.79%.

Importantly, this makes New Haven 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 New Haven'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 New Haven differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in New Haven - 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 New Haven real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$142,047

New Haven, IN HOME PRICES

> $1,203,000
0.8%
0.8%
$902,001 - $1,203,000
0.0%
0.0%
$602,001 - $902,000
0.0%
0.0%
$482,001 - $602,000
0.6%
0.6%
$361,001 - $482,000
0.4%
0.4%
$241,001 - $361,000
7.0%
7.0%
$120,001 - $241,000
40.2%
40.2%
$60,001 - $120,000
41.5%
41.5%
$0 - $60,000
9.5%
9.5%
0.0% 100.0%
% OF HOMES
Value Relative To State

Low for Nation

Average for IN

Value Relative To Nation

Number Of Homes And Apartments:
6,205

New Haven 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
40.43% 1.63%
4
2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$969 / per month

Homeownership Rate

Owners
74.8%
74.8%
Renters
25.2%
25.2%
Vacant
7.4%
7.4%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
19.3%
19.3%
1970 - 1999
34.7%
34.7%
1940 - 1969
39.2%
39.2%
1939 or Older
6.8%
6.8%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
76.0%
76.0%
Townhomes
2.0%
2.0%
Small Apt. Buildings
4.3%
4.3%
Apt. Complexes
7.5%
7.5%
Mobile Homes
10.0%
10.0%
Other
0.1%
0.1%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.6%
0.6%
1 Bedroom
5.6%
5.6%
2 Bedrooms
18.6%
18.6%
3 Bedrooms
58.5%
58.5%
4 Bedrooms
14.7%
14.7%
5 or more bedrooms
2.0%
2.0%
0.0% 100.0%
% OF HOMES