Garnett, KS
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Garnett, KS 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

Garnett Housing Market Information

With a population of 3,258, 1,427 total housing units (homes and apartments), and a median house value of $96,875, house prices in Garnett are solidly below the national average.

Single-family detached homes are the single most common housing type in Garnett, accounting for 78.62% of the city's housing units. Other types of housing that are prevalent in Garnett include duplexes, homes converted to apartments or other small apartment buildings ( 8.81%), mobile homes or trailers ( 6.72%), and a few large apartment complexes or high rise apartments ( 5.85%).

The most prevalent building size and type in Garnett are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 57.90% owning and 42.10% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Garnett's housing was primarily built during this period, from the '40s through the '60s. A full 37.09% of the city's housing hails from this era. Other housing ages represented in Garnett include homes built before 1939 ( 27.85%) and housing constructed between 1970-1999 ( 27.11%). There's also some housing in Garnett built between 2000 and later ( 7.95%).

Vacant housing appears to be an issue in Garnett. Fully 12.08% of the housing stock is classified as vacant. Left unchecked, vacant Garnett homes and apartments can be a drag on the real estate market, holding Garnett 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.

Garnett Home Appreciation Rates

Real estate appreciation rates in Garnett's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.17% during the period.

NeighborhoodScout's data show that during the latest twelve months, Garnett's appreciation rate, at 3.75%, has been at or slightly above the national average. In the latest quarter, Garnett's appreciation rate has been 1.04%, which annualizes to a rate of 4.23%.

Relative to Kansas, our data show that Garnett's latest annual appreciation rate is lower than 60% of the other cities and towns in Kansas.

Average Home Values

 

Median Home Value:
$96,875

Garnett, KS HOME PRICES

Value Range
> $1,055,000 0.0
$792,001 - $1,055,000 0.0
$528,001 - $792,000 0.0
$422,001 - $528,000 0.0
$317,001 - $422,000 2.2
$211,001 - $317,000 13.3
$105,001 - $211,000 28.3
$53,001 - $105,000 38.3
$0 - $53,000 17.9

Average for KS
Low for Nation

Value Relative to Nation Value Relative to State
79.6085784600961 56.3829787234043

Number Of Homes And Apartments:
1,427

Garnett Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
KS*
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
20.53% 1.09% 1 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$821 / per month

Homeownership Rate

Homeownership
Owners 57.90
Renters 42.10
Vacant 12.08

Housing Market Details

 

Age of Homes

AGE OF Garnett HOMES
2000 or Newer 7.9
1970 - 1999 27.1
1940 - 1969 37.1
1939 or Older 27.8

Types of Homes

TYPE OF Garnett HOMES
Single-Family 78.6
Townhomes 0.0
Small Apt. Buildings 8.8
Apt. Complexes 5.9
Mobile Homes 6.7
Other 0.0

Home Size

SIZE OF Garnett HOMES
No Bedroom 0.00
1 Bedroom 12.20
2 Bedrooms 32.04
3 Bedrooms 39.37
4 Bedrooms 10.91
5 or more bedrooms 5.48

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Zip Codes in Garnett, KS