North Vernon, IN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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North Vernon, IN Real Estate Data


North Vernon Housing Market Information

With a population of 6,619, 2,692 total housing units (homes and apartments), and a median house value of $112,102, 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 4.69%, which ranks in the top 50% nationwide. This equates to an annual average North Vernon house appreciation rate of 0.46%.

Over the last year, North Vernon appreciation rates have trailed the rest of the nation. In the last twelve months, North Vernon's appreciation rate has been 2.31%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in North Vernon were at 1.04%, which equates to an annual appreciation rate of 4.23%.

Relative to Indiana, our data show that North Vernon's latest annual appreciation rate is lower than 60% of the other cities and towns in Indiana.

Average Home Values

 

Median Home Value:
$112,102

North Vernon, IN HOME PRICES

Value Range
> $1,089,000 0.0
$817,001 - $1,089,000 0.0
$545,001 - $817,000 0.6
$436,001 - $545,000 0.7
$327,001 - $436,000 0.7
$218,001 - $327,000 6.8
$109,001 - $218,000 27.3
$54,001 - $109,000 49.0
$0 - $54,000 14.8

Low for IN
Low for Nation

Value Relative to Nation Value Relative to State
69.9460916442049 64.2533936651584

Number Of Homes And Apartments:
2,692

Rent & Ownership

 

Average Market Rent:
$778 / 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

North Vernon Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IN*
Compared To
America*
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
21.08% 1.12% 5 2
* 10 is highest

Popular Neighborhoods in North Vernon

Zip Codes in North Vernon, IN