Princeton, IN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Princeton, IN Real Estate Data


Princeton Housing Market Information

With a population of 8,626, 3,331 total housing units (homes and apartments), and a median house value of $101,845, house prices in Princeton are solidly below the national average.

Single-family detached homes are the single most common housing type in Princeton, accounting for 66.50% of the city's housing units. Other types of housing that are prevalent in Princeton include large apartment complexes or high rise apartments ( 14.56%), mobile homes or trailers ( 8.98%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 8.06%).

People in Princeton primarily live in small (one, two or no bedroom) single-family detached homes. Princeton has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Princeton 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 Princeton built between 1940-1969 ( 29.08%). A lesser amount of the housing stock also hails from before 1939 ( 28.21%). There's also some housing in Princeton built between 2000 and later ( 7.24%).

Vacant housing appears to be an issue in Princeton. Fully 14.74% of the housing stock is classified as vacant. Left unchecked, vacant Princeton homes and apartments can be a drag on the real estate market, holding Princeton 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.

Princeton Home Appreciation Rates

Appreciation rates for homes in Princeton have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 5.94%, which ranks in the top 50% nationwide. This equates to an annual average Princeton house appreciation rate of 0.58%.

Appreciation rates are so strong in Princeton that despite a nationwide downturn in the housing market, Princeton real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Princeton appreciation rates continue to be some of the highest in America, at 6.09%, which is higher than appreciation rates in 75.34% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Princeton. Princeton appreciation rates in the latest quarter were at 2.34%, which equates to an annual appreciation rate of 9.71%.

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

Average Home Values

 

Median Home Value:
$101,845

Princeton, IN HOME PRICES

Value Range
> $1,094,000 0.0
$821,001 - $1,094,000 0.0
$547,001 - $821,000 1.0
$438,001 - $547,000 0.1
$329,001 - $438,000 0.0
$219,001 - $329,000 4.6
$110,001 - $219,000 35.6
$55,001 - $110,000 42.1
$0 - $55,000 16.5

Low for IN
Low for Nation

Value Relative to Nation Value Relative to State
77.6717221994495 78.0542986425339

Number Of Homes And Apartments:
3,331

Rent & Ownership

 

Average Market Rent:
$740 / per month

Homeownership Rate

Homeownership
Owners 62.49
Renters 37.51
Vacant 14.74

Housing Market Details

 

Age of Homes

AGE OF Princeton HOMES
2000 or Newer 7.2
1970 - 1999 35.5
1940 - 1969 29.1
1939 or Older 28.2

Types of Homes

TYPE OF Princeton HOMES
Single-Family 66.5
Townhomes 1.9
Small Apt. Buildings 8.1
Apt. Complexes 14.6
Mobile Homes 9.0
Other 0.0

Home Size

SIZE OF Princeton HOMES
No Bedroom 3.56
1 Bedroom 11.01
2 Bedrooms 40.98
3 Bedrooms 34.96
4 Bedrooms 9.06
5 or more bedrooms 0.44

Princeton Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IN*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
33.49% 1.71% 9 4
* 10 is highest

Popular Neighborhoods in Princeton

Zip Codes in Princeton, IN