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 Q3 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

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

Speedway Housing Market Information

With a population of 12,159, 5,192 total housing units (homes and apartments), and a median house value of $154,226, house prices in Speedway are solidly below the national average.

Single-family detached homes are the single most common housing type in Speedway, accounting for 47.72% of the town's housing units. Other types of housing that are prevalent in Speedway include large apartment complexes or high rise apartments ( 38.32%), duplexes, homes converted to apartments or other small apartment buildings ( 10.62%), and a few row houses and other attached homes ( 2.32%).

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 53.54% of the town's housing hails from this era. Other housing ages represented in Speedway include homes built between 1970-1999 ( 35.15%) and housing constructed before 1939 ( 8.09%). There's also some housing in Speedway built between 2000 and later ( 3.22%).

Vacant housing appears to be an issue in Speedway. Fully 14.65% 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 31.03%, which ranks in the top 40% nationwide. This equates to an annual average Speedway house appreciation rate of 2.74%.

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 8.01%, which is higher than appreciation rates in 94.65% 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 2.19%, which equates to an annual appreciation rate of 9.06%.

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

Average Home Values

 

Median Home Value:
$154,226

Speedway, IN HOME PRICES

Value Range
> $1,340,000 0.0
$1,005,001 - $1,340,000 0.0
$670,001 - $1,005,000 0.0
$536,001 - $670,000 0.0
$402,001 - $536,000 0.6
$268,001 - $402,000 3.0
$134,001 - $268,000 68.5
$67,001 - $134,000 23.6
$0 - $67,000 4.3

Average for IN
Average for Nation

Value Relative to Nation Value Relative to State
56.992700729927 40.7239819004525

Number Of Homes And Apartments:
5,192

Speedway Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IN*
Compared To
America*
Latest Quarter:
2019 Q2 - 2019 Q3
Last 12 Months:
2018 Q3 - 2019 Q3
Last 2 Years:
2017 Q3 - 2019 Q3
Last 5 Years:
2014 Q3 - 2019 Q3
Last 10 Years:
2009 Q3 - 2019 Q3
Since 2000:
2000 Q1 - 2019 Q3
34.85% 1.53%
4
2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,019 / per month

Homeownership Rate

Homeownership
Owners 45.67
Renters 54.33
Vacant 14.65

Housing Market Details

 

Age of Homes

AGE OF Speedway HOMES
2000 or Newer 3.2
1970 - 1999 35.1
1940 - 1969 53.5
1939 or Older 8.1

Types of Homes

TYPE OF Speedway HOMES
Single-Family 47.7
Townhomes 2.3
Small Apt. Buildings 10.6
Apt. Complexes 38.3
Mobile Homes 0.9
Other 0.1

Home Size

SIZE OF Speedway HOMES
No Bedroom 4.77
1 Bedroom 17.64
2 Bedrooms 37.23
3 Bedrooms 34.28
4 Bedrooms 5.84
5 or more bedrooms 0.25