Topeka, IN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

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

Topeka Housing Market Information

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.

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 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.

Average Home Values

 

Median Home Value:
$310,543

Topeka, IN HOME PRICES

Value Range
> $1,140,000 4.8
$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

Very High for IN
Very High for Nation

Value Relative to Nation Value Relative to State
15.369741005508 1.58371040723982

Number Of Homes And Apartments:
364

Topeka Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IN*
Compared To
America*
Latest Quarter:
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
Since 2000:
2000 Q1 - 2017 Q1
69.48% 3.11% 10 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$664 / per month

Homeownership Rate

Homeownership
Owners 55.49
Renters 44.51
Vacant 11.44

Housing Market Details

 

Age of Homes

AGE OF Topeka HOMES
2000 or Newer 7.5
1970 - 1999 34.5
1940 - 1969 14.1
1939 or Older 43.8

Types of Homes

TYPE OF Topeka HOMES
Single-Family 54.7
Townhomes 3.4
Small Apt. Buildings 11.7
Apt. Complexes 19.0
Mobile Homes 11.2
Other 0.0

Home Size

SIZE OF Topeka HOMES
No Bedroom 0.73
1 Bedroom 14.36
2 Bedrooms 31.14
3 Bedrooms 36.25
4 Bedrooms 5.60
5 or more bedrooms 11.92

Popular Neighborhoods in Topeka

Zip Codes in Topeka, IN