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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With 6,619 people, 2,692 houses or apartments, and a median cost of homes of $110,880, house prices in North Vernon are solidly below the national average.
Single-family detached homes are the single most common housing type in North Vernon, accounting for 68.27% of the city's housing units. Other types of housing that are prevalent in North Vernon include duplexes, homes converted to apartments or other small apartment buildings ( 12.29%), large apartment complexes or high rise apartments ( 9.13%), and a few mobile homes or trailers ( 7.10%).
The most prevalent building size and type in North Vernon are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 53.19% owning and 46.81% renting.
There is a lot of housing in North Vernon 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 North Vernon built between 1940-1969 ( 25.40%). A lesser amount of the housing stock also hails from before 1939 ( 20.97%). There's also some housing in North Vernon built between 2000 and later ( 11.46%).
Vacant housing appears to be an issue in North Vernon. Fully 14.32% of the housing stock is classified as vacant. Left unchecked, vacant North Vernon homes and apartments can be a drag on the real estate market, holding North Vernon 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.
Appreciation rates for homes in North Vernon have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 4.31%, which ranks in the top 50% nationwide. This equates to an annual average North Vernon house appreciation rate of 0.42%.
NeighborhoodScout's data show that during the latest twelve months, North Vernon's appreciation rate, at 3.29%, has been at or slightly above the national average. In the latest quarter, North Vernon's appreciation rate has been -1.14%, which annualizes to a rate of -4.49%.
Notably, North Vernon's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Indiana, our data show that North Vernon's latest annual appreciation rate is lower than 50% of the other cities and towns in Indiana.
|$808,001 - $1,077,000||0.0|
|$539,001 - $808,000||0.6|
|$431,001 - $539,000||0.7|
|$323,001 - $431,000||0.7|
|$215,001 - $323,000||6.8|
|$108,001 - $215,000||27.3|
|$54,001 - $108,000||49.0|
|$0 - $54,000||14.8|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF North Vernon HOMES|
|2000 or Newer||11.5|
|1970 - 1999||42.2|
|1940 - 1969||25.4|
|1939 or Older||21.0|
|TYPE OF North Vernon HOMES|
|Small Apt. Buildings||12.3|
|SIZE OF North Vernon HOMES|
|5 or more bedrooms||3.25|