New Palestine, IN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating New Palestine Neighborhoods Since 2000




New Palestine, IN Real Estate Data


New Palestine Housing Market Information

With a population of 2,221, 872 total housing units (homes and apartments), and a median house value of $189,026, New Palestine real estate is some of the most expensive in Indiana, although New Palestine home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in New Palestine, accounting for 79.94% of the town's housing units. Other types of housing that are prevalent in New Palestine include duplexes, homes converted to apartments or other small apartment buildings ( 12.38%), row houses and other attached homes ( 5.53%), and a few large apartment complexes or high rise apartments ( 1.84%).

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 Palestine. Owner-occupied housing accounts for 78.33% of New Palestine's homes, and 69.60% have either three or four bedrooms, which is average sized relative to America.

New Palestine homes and real estate are some of the newest in America. 38.49% of New Palestine's housing was built since 2000, making the town have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the New Palestine real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 33.57%), and before 1939 ( 14.12%). There's also some housing in New Palestine built between 1940-1969 ( 13.82%).

Vacant housing appears to be an issue in New Palestine. Fully 10.75% of the housing stock is classified as vacant. Left unchecked, vacant New Palestine homes and apartments can be a drag on the real estate market, holding New Palestine 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.

New Palestine Home Appreciation Rates

Real estate appreciation rates in New Palestine's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 0.09% during the period.

Over the last year, New Palestine appreciation rates have trailed the rest of the nation. In the last twelve months, New Palestine's appreciation rate has been 3.61%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in New Palestine were at 1.66%, which equates to an annual appreciation rate of 6.79%.

Relative to Indiana, our data show that New Palestine's latest annual appreciation rate is lower than 80% of the other cities and towns in Indiana.

Average Home Values

 

Median Home Value:
$189,026

New Palestine, IN HOME PRICES

Value Range
> $1,099,000 0.8
$824,001 - $1,099,000 0.3
$549,001 - $824,000 0.8
$440,001 - $549,000 1.4
$330,001 - $440,000 5.7
$219,001 - $330,000 23.5
$110,001 - $219,000 48.0
$55,001 - $110,000 12.5
$0 - $55,000 7.1

Very High for IN
High for Nation

Value Relative to Nation Value Relative to State
36.1304678807753 9.27601809954751

Number Of Homes And Apartments:
872

Rent & Ownership

 

Average Market Rent:
$973 / per month

Homeownership Rate

Homeownership
Owners 78.33
Renters 21.67
Vacant 10.75

Housing Market Details

 

Age of Homes

AGE OF New Palestine HOMES
2000 or Newer 38.5
1970 - 1999 33.6
1940 - 1969 13.8
1939 or Older 14.1

Types of Homes

TYPE OF New Palestine HOMES
Single-Family 79.9
Townhomes 5.5
Small Apt. Buildings 12.4
Apt. Complexes 1.8
Mobile Homes 0.3
Other 0.0

Home Size

SIZE OF New Palestine HOMES
No Bedroom 0.00
1 Bedroom 4.40
2 Bedrooms 17.81
3 Bedrooms 47.49
4 Bedrooms 22.11
5 or more bedrooms 8.19

New Palestine Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IN*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
17.70% 0.96% 4 2
* 10 is highest

Popular Neighborhoods in New Palestine

Zip Codes in New Palestine, IN