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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With 1,200 people, 364 houses or apartments, and a median cost of homes of $310,543, 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 54.74% of the town's housing units. Other types of housing that are prevalent in Topeka include large apartment complexes or high rise apartments ( 18.98%), duplexes, homes converted to apartments or other small apartment buildings ( 11.68%), and a few mobile homes or trailers ( 11.19%).
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 ( 43.80%), 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 ( 34.55%), followed by between 1940-1969 ( 14.11%). There's also some housing in Topeka built between 2000 and later ( 7.54%).
Vacant housing appears to be an issue in Topeka. Fully 11.44% 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.
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 41.73% over the last ten years, which is an average annual home appreciation rate of 3.55%, 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.
NeighborhoodScout's data show that during the latest twelve months, Topeka's appreciation rate, at 4.53%, has been at or slightly above the national average. In the latest quarter, Topeka's appreciation rate has been -1.14%, which annualizes to a rate of -4.49%.
Notably, Topeka's appreciation rate in the latest quarter is one of the lowest in America.
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.
|$856,001 - $1,140,000||2.3|
|$571,001 - $856,000||7.6|
|$456,001 - $571,000||5.1|
|$342,001 - $456,000||20.8|
|$228,001 - $342,000||24.0|
|$114,001 - $228,000||17.4|
|$57,001 - $114,000||11.2|
|$0 - $57,000||6.8|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Topeka HOMES|
|2000 or Newer||7.5|
|1970 - 1999||34.5|
|1940 - 1969||14.1|
|1939 or Older||43.8|
|TYPE OF Topeka HOMES|
|Small Apt. Buildings||11.7|
|SIZE OF Topeka HOMES|
|5 or more bedrooms||11.92|