Speedway IN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Speedway, 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 Q2 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Speedway Housing Market Information

With 12,159 people, 5,186 houses or apartments, and a median cost of homes of $165,971, Speedway real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Speedway, accounting for 47.14% of the town's housing units. Other types of housing that are prevalent in Speedway include large apartment complexes or high rise apartments ( 37.54%), duplexes, homes converted to apartments or other small apartment buildings ( 12.04%), and a few row houses and other attached homes ( 2.06%).

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

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. Speedway's housing was primarily built during this period, from the '40s through the '60s. A full 52.14% of the town's housing hails from this era. Other housing ages represented in Speedway include homes built between 1970-1999 ( 36.40%) and housing constructed before 1939 ( 9.51%). There's also some housing in Speedway built between 2000 and later ( 1.95%).

Vacant housing appears to be an issue in Speedway. Fully 13.64% of the housing stock is classified as vacant. Left unchecked, vacant Speedway homes and apartments can be a drag on the real estate market, holding Speedway 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.

Speedway Home Appreciation Rates

Appreciation rates for homes in Speedway have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 45.23%, which ranks in the top 30% nationwide. This equates to an annual average Speedway house appreciation rate of 3.80%.

Appreciation rates are so strong in Speedway that despite a nationwide downturn in the housing market, Speedway real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Speedway appreciation rates continue to be some of the highest in America, at 6.66%, which is higher than appreciation rates in 87.62% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Speedway. Speedway appreciation rates in the latest quarter were at 1.28%, which equates to an annual appreciation rate of 5.23%.

Relative to Indiana, our data show that Speedway's latest annual appreciation rate is higher than 80% of the other cities and towns in Indiana.

Average Home Values

 

Median Home Value:
$165,971

Speedway, IN HOME PRICES

Value Range
> $1,363,000 0.0
$1,022,001 - $1,363,000 0.2
$681,001 - $1,022,000 0.0
$545,001 - $681,000 0.0
$409,001 - $545,000 1.0
$273,001 - $409,000 4.9
$137,001 - $273,000 71.3
$68,001 - $137,000 19.2
$0 - $68,000 3.5

High for IN
Average for Nation

Value Relative to Nation Value Relative to State
53.9912408759124 34.6153846153846

Number Of Homes And Apartments:
5,186

Speedway Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IN*
Compared To
America*
Latest Quarter:
2020 Q1 - 2020 Q2
Last 12 Months:
2019 Q2 - 2020 Q2
Last 2 Years:
2018 Q2 - 2020 Q2
Last 5 Years:
2015 Q2 - 2020 Q2
Last 10 Years:
2010 Q2 - 2020 Q2
Since 2000:
2000 Q1 - 2020 Q2
45.98% 1.86%
6
3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,011 / per month

Homeownership Rate

Homeownership
Owners 46.16
Renters 53.84
Vacant 13.64

Housing Market Details

 

Age of Homes

AGE OF Speedway HOMES
2000 or Newer 1.9
1970 - 1999 36.4
1940 - 1969 52.1
1939 or Older 9.5

Types of Homes

TYPE OF Speedway HOMES
Single-Family 47.1
Townhomes 2.1
Small Apt. Buildings 12.0
Apt. Complexes 37.5
Mobile Homes 1.1
Other 0.1

Home Size

SIZE OF Speedway HOMES
No Bedroom 4.11
1 Bedroom 18.58
2 Bedrooms 36.17
3 Bedrooms 33.76
4 Bedrooms 6.36
5 or more bedrooms 1.02