North Vernon, IN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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North Vernon, 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

North Vernon Housing Market Information

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.

North Vernon Home Appreciation Rates

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.

Average Home Values

 

Median Home Value:
$110,880

North Vernon, IN HOME PRICES

Value Range
> $1,077,000 0.0
$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

Low for IN
Low for Nation

Value Relative to Nation Value Relative to State
70.8250322278214 64.4796380090498

Number Of Homes And Apartments:
2,692

North Vernon 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
19.12% 1.02% 5 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$806 / per month

Homeownership Rate

Homeownership
Owners 53.19
Renters 46.81
Vacant 14.32

Housing Market Details

 

Age of Homes

AGE OF North Vernon HOMES
2000 or Newer 11.5
1970 - 1999 42.2
1940 - 1969 25.4
1939 or Older 21.0

Types of Homes

TYPE OF North Vernon HOMES
Single-Family 68.3
Townhomes 3.2
Small Apt. Buildings 12.3
Apt. Complexes 9.1
Mobile Homes 7.1
Other 0.0

Home Size

SIZE OF North Vernon HOMES
No Bedroom 1.69
1 Bedroom 17.54
2 Bedrooms 27.08
3 Bedrooms 43.54
4 Bedrooms 6.91
5 or more bedrooms 3.25

Popular Neighborhoods in North Vernon

Zip Codes in North Vernon, IN