Topeka, IN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Topeka, IN Real Estate Data


Topeka Housing Market Information

With a population of 1,200, 358 total housing units (homes and apartments), and a median house value of $314,411, Topeka real estate is some of the most expensive in Indiana, although Topeka home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Topeka, accounting for 52.08% of the town's housing units. Other types of housing that are prevalent in Topeka include large apartment complexes or high rise apartments ( 18.52%), mobile homes or trailers ( 15.97%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 11.81%).

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.

There is a lot of housing in Topeka 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 Topeka built before 1939 ( 36.57%). A lesser amount of the housing stock also hails from between 1940-1969 ( 15.74%). There's also some housing in Topeka built between 2000 and later ( 9.95%).

Vacant housing appears to be an issue in Topeka. Fully 17.13% 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 40.04% over the last ten years, which is an average annual home appreciation rate of 3.42%, 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 5.97%, which is higher than appreciation rates in 73.76% 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 2.34%, which equates to an annual appreciation rate of 9.71%.

Relative to Indiana, our data show that Topeka's latest annual appreciation rate is higher than 50% of the other cities and towns in Indiana.

Average Home Values

 

Median Home Value:
$314,411

Topeka, IN HOME PRICES

Value Range
> $1,175,000 2.3
$882,001 - $1,175,000 2.5
$588,001 - $882,000 8.4
$470,001 - $588,000 2.4
$353,001 - $470,000 25.0
$235,001 - $353,000 23.9
$118,001 - $235,000 17.8
$59,001 - $118,000 10.1
$0 - $59,000 7.7

Very High for IN
Very High for Nation

Value Relative to Nation Value Relative to State
15.4945247994378 1.58371040723982

Number Of Homes And Apartments:
358

Rent & Ownership

 

Average Market Rent:
$764 / per month

Homeownership Rate

Homeownership
Owners 57.82
Renters 42.18
Vacant 17.13

Housing Market Details

 

Age of Homes

AGE OF Topeka HOMES
2000 or Newer 10.0
1970 - 1999 37.7
1940 - 1969 15.7
1939 or Older 36.6

Types of Homes

TYPE OF Topeka HOMES
Single-Family 52.1
Townhomes 1.6
Small Apt. Buildings 11.8
Apt. Complexes 18.5
Mobile Homes 16.0
Other 0.0

Home Size

SIZE OF Topeka HOMES
No Bedroom 0.00
1 Bedroom 13.89
2 Bedrooms 35.19
3 Bedrooms 38.89
4 Bedrooms 4.17
5 or more bedrooms 7.87

Topeka Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IN*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
78.63% 3.47% 10 9
* 10 is highest

Popular Neighborhoods in Topeka

Zip Codes in Topeka, IN