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 a population of 2,347, 972 total housing units (homes and apartments), and a median house value of $93,178, house prices in Petersburg are some of the most affordable in Indiana as well as the nation.
Single-family detached homes are the single most common housing type in Petersburg, accounting for 66.64% of the city's housing units. Other types of housing that are prevalent in Petersburg include mobile homes or trailers ( 13.62%), large apartment complexes or high rise apartments ( 10.64%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.75%).
People in Petersburg primarily live in small (one, two or no bedroom) single-family detached homes. Petersburg has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Petersburg 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 Petersburg built between 1940-1969 ( 27.41%). A lesser amount of the housing stock also hails from before 1939 ( 21.19%). There's also some housing in Petersburg built between 2000 and later ( 2.34%).
Vacant housing appears to be an issue in Petersburg. Fully 12.35% of the housing stock is classified as vacant. Left unchecked, vacant Petersburg homes and apartments can be a drag on the real estate market, holding Petersburg 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 Petersburg have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 12.46%, which ranks in the top 30% nationwide. This equates to an annual average Petersburg house appreciation rate of 1.18%.
Appreciation rates are so strong in Petersburg that despite a nationwide downturn in the housing market, Petersburg real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Petersburg appreciation rates continue to be some of the highest in America, at 7.86%, which is higher than appreciation rates in 86.03% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Petersburg. Petersburg appreciation rates in the latest quarter were at -1.14%, which equates to an annual appreciation rate of -4.49%.
Notably, Petersburg's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Indiana, our data show that Petersburg's latest annual appreciation rate is higher than 90% of the other cities and towns in Indiana.
|$794,001 - $1,059,000||0.0|
|$529,001 - $794,000||0.0|
|$424,001 - $529,000||0.1|
|$318,001 - $424,000||0.6|
|$212,001 - $318,000||6.3|
|$106,001 - $212,000||29.7|
|$53,001 - $106,000||41.4|
|$0 - $53,000||21.9|
|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 Petersburg HOMES|
|2000 or Newer||2.3|
|1970 - 1999||49.1|
|1940 - 1969||27.4|
|1939 or Older||21.2|
|TYPE OF Petersburg HOMES|
|Small Apt. Buildings||7.8|
|SIZE OF Petersburg HOMES|
|5 or more bedrooms||2.71|