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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Selma, IN Real Estate Market

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 Q2 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Selma, IN Housing Market Trends

With a population of 743, 322 total housing units (homes and apartments), and a median house value of $150,887, house prices in Selma 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 Selma, accounting for 89.15% of the town's housing units. Other types of housing that are prevalent in Selma include large apartment complexes or high rise apartments ( 4.99%), duplexes, homes converted to apartments or other small apartment buildings ( 3.52%), and a few mobile homes or trailers ( 1.76%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Selma. Owner-occupied housing accounts for 70.12% of Selma's homes, and 72.73% have either three or four bedrooms, which is average sized relative to America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Selma's housing was primarily built during this period, from the '40s through the '60s. A full 46.04% of the town's housing hails from this era. Other housing ages represented in Selma include homes built between 1970-1999 ( 22.87%) and housing constructed before 1939 ( 21.11%). There's also some housing in Selma built between 2000 and later ( 9.97%).

Selma Home Appreciation Rates

Selma's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Selma during the period has been just 5.26%, which is lower than 70% of US communities.

Over the last year, Selma appreciation rates have trailed the rest of the nation. In the last twelve months, Selma's appreciation rate has been 0.99%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Selma were at -1.34%, which equates to an annual appreciation rate of -5.25%.

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

Relative to Indiana, our data show that Selma's latest annual appreciation rate is lower than 90% of the other cities and towns in Indiana.

Average Home Values

Median Home Value

$150,887

Selma, IN Home Prices
> $1,254,000
$940,001 - $1,254,000
$627,001 - $940,000
$501,001 - $627,000
$376,001 - $501,000
$251,001 - $376,000
$125,001 - $251,000
$63,001 - $125,000
$0 - $63,000
0.0%
0.0%
0.1%
0.1%
1.1%
1.1%
1.8%
1.8%
5.4%
5.4%
13.4%
13.4%
38.5%
38.5%
35.1%
35.1%
4.6%
4.6%
0% 100.0%
% of Homes
Very Low

for Indiana

Very Low

for nation

Number of Homes And Apartments:

322

Selma Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,408 / per month

Homeownership Rate

Owners
Renters
70.1%
70.1%
29.9%
29.9%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
5.6%
5.6%
94.4%
94.4%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
10.0%
10.0%
22.9%
22.9%
46.0%
46.0%
21.1%
21.1%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
89.1%
89.1%
0.6%
0.6%
3.5%
3.5%
5.0%
5.0%
1.8%
1.8%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.6%
0.6%
1.2%
1.2%
22.9%
22.9%
68.3%
68.3%
4.4%
4.4%
2.6%
2.6%
0% 100.0%
% of Homes