Sunman, 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 Q4 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

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

Sunman, IN Housing Market Trends

With 1,033 people, 439 houses or apartments, and a median cost of homes of $219,258, Sunman real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Sunman, accounting for 61.65% of the town's housing units. Other types of housing that are prevalent in Sunman include mobile homes or trailers ( 18.72%), large apartment complexes or high rise apartments ( 16.51%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.65%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Sunman. Owner-occupied housing accounts for 69.63% of Sunman's homes, and 57.06% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Sunman 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 Sunman built between 1940-1969 ( 26.61%). A lesser amount of the housing stock also hails from before 1939 ( 26.06%). There's also some housing in Sunman built between 2000 and later ( 19.45%).

Vacant housing appears to be an issue in Sunman. Fully 19.45% of the housing stock is classified as vacant. Left unchecked, vacant Sunman homes and apartments can be a drag on the real estate market, holding Sunman 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.

Sunman Home Appreciation Rates

Real estate appreciation rates in Sunman's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 2.59% during the period.

NeighborhoodScout's data show that during the latest twelve months, Sunman's appreciation rate, at 6.18%, has been at or slightly above the national average. In the latest quarter, Sunman's appreciation rate has been 2.32%, which annualizes to a rate of 9.62%.

Relative to Indiana, our data show that Sunman's latest annual appreciation rate is higher than 60% of the other cities and towns in Indiana.

Average Home Values

 

Median Home Value:
$219,258

Sunman, IN HOME PRICES

> $1,202,000
0.7%
0.7%
$902,001 - $1,202,000
3.9%
3.9%
$601,001 - $902,000
0.8%
0.8%
$481,001 - $601,000
1.6%
1.6%
$361,001 - $481,000
9.0%
9.0%
$241,001 - $361,000
24.7%
24.7%
$120,001 - $241,000
42.2%
42.2%
$60,001 - $120,000
9.2%
9.2%
$0 - $60,000
7.9%
7.9%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

Very High for IN

Value Relative To Nation

Number Of Homes And Apartments:
439

Sunman Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IN*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
49.33% 1.93%
6
3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$879 / per month

Homeownership Rate

Owners
69.6%
69.6%
Renters
30.4%
30.4%
Vacant
19.4%
19.4%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
19.4%
19.4%
1970 - 1999
27.9%
27.9%
1940 - 1969
26.6%
26.6%
1939 or Older
26.1%
26.1%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
61.7%
61.7%
Townhomes
1.5%
1.5%
Small Apt. Buildings
1.7%
1.7%
Apt. Complexes
16.5%
16.5%
Mobile Homes
18.7%
18.7%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
5.3%
5.3%
1 Bedroom
11.4%
11.4%
2 Bedrooms
26.2%
26.2%
3 Bedrooms
43.5%
43.5%
4 Bedrooms
13.6%
13.6%
5 or more bedrooms
0.0%
0.0%
0.0% 100.0%
% OF HOMES