Roanoke, IN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Roanoke, 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

Roanoke Housing Market Information

With a population of 1,701, 667 total housing units (homes and apartments), and a median house value of $177,805, Roanoke real estate is some of the most expensive in Indiana, although Roanoke home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Roanoke, accounting for 82.49% of the town's housing units. Other types of housing that are prevalent in Roanoke include mobile homes or trailers ( 7.52%), large apartment complexes or high rise apartments ( 5.84%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.63%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Roanoke. Owner-occupied housing accounts for 80.89% of Roanoke's homes, and 70.30% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Roanoke 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 Roanoke built between 2000 and later ( 26.85%). A lesser amount of the housing stock also hails from before 1939 ( 21.27%). There's also some housing in Roanoke built between 1940-1969 ( 11.15%).

Vacant housing appears to be an issue in Roanoke. Fully 13.49% of the housing stock is classified as vacant. Left unchecked, vacant Roanoke homes and apartments can be a drag on the real estate market, holding Roanoke 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.

Roanoke Home Appreciation Rates

Appreciation rates for homes in Roanoke have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 11.71%, which ranks in the top 30% nationwide. This equates to an annual average Roanoke house appreciation rate of 1.11%.

NeighborhoodScout's data show that during the latest twelve months, Roanoke's appreciation rate, at 3.30%, has been at or slightly above the national average. In the latest quarter, Roanoke's appreciation rate has been -1.14%, which annualizes to a rate of -4.49%.

Notably, Roanoke's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Indiana, our data show that Roanoke's latest annual appreciation rate is higher than 50% of the other cities and towns in Indiana.

Average Home Values

 

Median Home Value:
$177,805

Roanoke, IN HOME PRICES

Value Range
> $1,109,000 0.9
$831,001 - $1,109,000 0.0
$555,001 - $831,000 0.8
$443,001 - $555,000 1.8
$333,001 - $443,000 5.3
$222,001 - $333,000 21.9
$111,001 - $222,000 45.2
$55,001 - $111,000 19.5
$0 - $55,000 4.5

Very High for IN
High for Nation

Value Relative to Nation Value Relative to State
38.8667526075237 13.1221719457014

Number Of Homes And Apartments:
667

Roanoke 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
22.20% 1.17% 6 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$891 / per month

Homeownership Rate

Homeownership
Owners 80.89
Renters 19.11
Vacant 13.49

Housing Market Details

 

Age of Homes

AGE OF Roanoke HOMES
2000 or Newer 26.8
1970 - 1999 40.7
1940 - 1969 11.2
1939 or Older 21.3

Types of Homes

TYPE OF Roanoke HOMES
Single-Family 82.5
Townhomes 0.5
Small Apt. Buildings 3.6
Apt. Complexes 5.8
Mobile Homes 7.5
Other 0.0

Home Size

SIZE OF Roanoke HOMES
No Bedroom 0.26
1 Bedroom 5.45
2 Bedrooms 18.68
3 Bedrooms 55.77
4 Bedrooms 14.53
5 or more bedrooms 5.32

Popular Neighborhoods in Roanoke

Zip Codes in Roanoke, IN