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 about Scout's Real Estate Data
With 740 people, 357 houses or apartments, and a median cost of homes of $139,642, 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 87.25% of the town's housing units. Other types of housing that are prevalent in Selma include large apartment complexes or high rise apartments ( 6.00%), duplexes, homes converted to apartments or other small apartment buildings ( 4.25%), and a few mobile homes or trailers ( 2.00%).
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 67.49% of Selma's homes, and 69.50% 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 50.00% of the town's housing hails from this era. Other housing ages represented in Selma include homes built before 1939 ( 25.00%) and housing constructed between 1970-1999 ( 16.75%). There's also some housing in Selma built between 2000 and later ( 8.25%).
Vacant housing appears to be an issue in Selma. Fully 10.75% of the housing stock is classified as vacant. Left unchecked, vacant Selma homes and apartments can be a drag on the real estate market, holding Selma 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.
Real estate appreciation rates in Selma's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.12% during the period.
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 9.35%, 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 0.12%, which equates to an annual appreciation rate of 0.47%.
Relative to Indiana, our data show that Selma's latest annual appreciation rate is lower than 80% of the other cities and towns in Indiana.
$1,328 / per month