Topeka, 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 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 about Scout's Real Estate Data

Topeka Housing Market Information

With a population of 1,225, 362 total housing units (homes and apartments), and a median house value of $380,630, Topeka house prices are not only among the most expensive in Indiana, Topeka real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Topeka, accounting for 61.52% of the town's housing units. Other types of housing that are prevalent in Topeka include large apartment complexes or high rise apartments ( 21.32%), duplexes, homes converted to apartments or other small apartment buildings ( 11.03%), and a few mobile homes or trailers ( 4.17%).

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

The housing in Topeka was primarily built before 1939 ( 46.57%), making the housing stock in Topeka some of the oldest overall in America, although there is a range of ages of homes in Topeka. The next most important housing age is between 1970-1999 ( 30.39%), followed by between 1940-1969 ( 20.10%). There's also some housing in Topeka built between 2000 and later ( 2.94%).

Vacant housing appears to be an issue in Topeka. Fully 11.27% of the housing stock is classified as vacant. Left unchecked, vacant Topeka homes and apartments can be a drag on the real estate market, holding Topeka 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.

Topeka Home Appreciation Rates

In the last 10 years, Topeka has experienced some of the highest home appreciation rates of any community in the nation. Topeka real estate appreciated 74.11% over the last ten years, which is an average annual home appreciation rate of 5.70%, putting Topeka in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Topeka definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Topeka that despite a nationwide downturn in the housing market, Topeka real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Topeka appreciation rates continue to be some of the highest in America, at 5.10%, which is higher than appreciation rates in 73.39% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Topeka. Topeka appreciation rates in the latest quarter were at 1.53%, which equates to an annual appreciation rate of 6.25%.

Relative to Indiana, our data show that Topeka's latest annual appreciation rate is higher than 70% of the other cities and towns in Indiana.

Average Home Values

 
info

Median Home Value:
$380,630

Topeka, IN HOME PRICES

> $1,345,000
2.9%
2.9%
$1,009,001 - $1,345,000
4.1%
4.1%
$673,001 - $1,009,000
14.2%
14.2%
$538,001 - $673,000
7.9%
7.9%
$404,001 - $538,000
14.3%
14.3%
$269,001 - $404,000
21.8%
21.8%
$135,001 - $269,000
17.6%
17.6%
$68,001 - $135,000
13.8%
13.8%
$0 - $68,000
3.3%
3.3%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for IN

Value Relative To Nation

Number Of Homes And Apartments:
362

Topeka Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IN*
Compared To
America*
Latest Quarter:
2020 Q2 - 2020 Q3
Last 12 Months:
2019 Q3 - 2020 Q3
Last 2 Years:
2018 Q3 - 2020 Q3
Last 5 Years:
2015 Q3 - 2020 Q3
Last 10 Years:
2010 Q3 - 2020 Q3
Since 2000:
2000 Q1 - 2020 Q3
113.96% 3.73%
10
9
* 10 is highest

Rent & Ownership

 
info

Average Market Rent:
$883 / per month

Homeownership Rate

Owners
59.4%
59.4%
Renters
40.6%
40.6%
Vacant
11.3%
11.3%
0.0% 100.0%
% OF HOMES

Housing Market Details

 
info

Age of Homes

2000 or Newer
2.9%
2.9%
1970 - 1999
30.4%
30.4%
1940 - 1969
20.1%
20.1%
1939 or Older
46.6%
46.6%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
61.5%
61.5%
Townhomes
2.0%
2.0%
Small Apt. Buildings
11.0%
11.0%
Apt. Complexes
21.3%
21.3%
Mobile Homes
4.2%
4.2%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.0%
1.0%
1 Bedroom
10.5%
10.5%
2 Bedrooms
38.0%
38.0%
3 Bedrooms
32.1%
32.1%
4 Bedrooms
10.3%
10.3%
5 or more bedrooms
8.1%
8.1%
0.0% 100.0%
% OF HOMES

Popular Neighborhoods in Topeka

Zip Codes in Topeka, IN