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 about Scout's Real Estate Data
With 54,605 people, 17,888 houses or apartments, and a median cost of homes of $515,288, Westfield real estate is some of the most expensive in Indiana, although Westfield home values aren't among America's most expensive.
Single-family detached homes are the single most common housing type in Westfield, accounting for 79.07% of the city's housing units. Other types of housing that are prevalent in Westfield include large apartment complexes or high rise apartments ( 8.95%), row houses and other attached homes ( 5.53%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.75%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Westfield. Owner-occupied housing accounts for 79.45% of Westfield's homes, and 67.00% have either three or four bedrooms, which is average sized relative to America.
Westfield homes and real estate are some of the newest in America. 65.88% of Westfield's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Westfield real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 29.01%), and between 1940-1969 ( 4.39%).
In the last 10 years, Westfield has experienced some of the highest home appreciation rates of any community in the nation. Westfield real estate appreciated 120.94% over the last ten years, which is an average annual home appreciation rate of 8.25%, putting Westfield in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Westfield 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 Westfield that despite a nationwide downturn in the housing market, Westfield real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Westfield appreciation rates continue to be some of the highest in America, at 13.17%, which is higher than appreciation rates in 80.05% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Westfield. Westfield appreciation rates in the latest quarter were at 4.17%, which equates to an annual appreciation rate of 17.75%.
Relative to Indiana, our data show that Westfield's latest annual appreciation rate is higher than 70% of the other cities and towns in Indiana.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Westfield differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Westfield - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Westfield real estate investment or home purchase decisions.
$515,288
for Indiana
for nation
17,888
$2,497 / per month