New Palestine, IN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating New Palestine Neighborhoods Since 2000




New Palestine, 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

New Palestine Housing Market Information

With 2,221 people, 797 houses or apartments, and a median cost of homes of $187,973, 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 76.14% 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 ( 15.65%), row houses and other attached homes ( 5.33%), and a few large apartment complexes or high rise apartments ( 2.55%).

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 78.29% of New Palestine's homes, and 71.81% 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. 37.85% 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 ( 33.07%), and between 1940-1969 ( 14.76%). There's also some housing in New Palestine built before 1939 ( 14.32%).

Vacant housing appears to be an issue in New Palestine. Fully 11.54% 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

Appreciation rates for homes in New Palestine have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 1.84%, which ranks in the top 50% nationwide. This equates to an annual average New Palestine house appreciation rate of 0.18%.

NeighborhoodScout's data show that during the latest twelve months, New Palestine's appreciation rate, at 3.52%, has been at or slightly above the national average. In the latest quarter, New Palestine's appreciation rate has been -0.60%, which annualizes to a rate of -2.40%.

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

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

Average Home Values

 

Median Home Value:
$187,973

New Palestine, IN HOME PRICES

Value Range
> $1,098,000 0.8
$823,001 - $1,098,000 0.2
$549,001 - $823,000 0.3
$439,001 - $549,000 2.3
$329,001 - $439,000 6.4
$219,001 - $329,000 24.0
$110,001 - $219,000 45.8
$55,001 - $110,000 13.2
$0 - $55,000 7.0

Very High for IN
High for Nation

Value Relative to Nation Value Relative to State
35.4623227469823 9.50226244343891

Number Of Homes And Apartments:
797

New Palestine 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
19.04% 1.02% 5 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,096 / per month

Homeownership Rate

Homeownership
Owners 78.29
Renters 21.71
Vacant 11.54

Housing Market Details

 

Age of Homes

AGE OF New Palestine HOMES
2000 or Newer 37.8
1970 - 1999 33.1
1940 - 1969 14.8
1939 or Older 14.3

Types of Homes

TYPE OF New Palestine HOMES
Single-Family 76.1
Townhomes 5.3
Small Apt. Buildings 15.6
Apt. Complexes 2.6
Mobile Homes 0.3
Other 0.0

Home Size

SIZE OF New Palestine HOMES
No Bedroom 0.67
1 Bedroom 5.99
2 Bedrooms 17.54
3 Bedrooms 47.72
4 Bedrooms 24.08
5 or more bedrooms 4.00

Popular Neighborhoods in New Palestine

Zip Codes in New Palestine, IN