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 14,100 people, 4,470 houses or apartments, and a median cost of homes of $113,119, house prices in Indiana are solidly below the national average.
Single-family detached homes are the single most common housing type in Indiana, accounting for 48.46% of the borough's housing units. Other types of housing that are prevalent in Indiana include large apartment complexes or high rise apartments ( 25.29%), duplexes, homes converted to apartments or other small apartment buildings ( 23.84%), and a few row houses and other attached homes ( 1.67%).
Indiana is dominated by renter-occupied one, two, or no bedrooms apartments. 72.31% of Indiana's dwellings are rentals.
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. Indiana's housing was primarily built during this period, from the '40s through the '60s. A full 33.56% of the borough's housing hails from this era. Other housing ages represented in Indiana include homes built before 1939 ( 32.50%) and housing constructed between 1970-1999 ( 25.44%). There's also some housing in Indiana built between 2000 and later ( 8.50%).
Vacant housing appears to be an issue in Indiana. Fully 14.95% of the housing stock is classified as vacant. Left unchecked, vacant Indiana homes and apartments can be a drag on the real estate market, holding Indiana 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.
Appreciation rates for homes in Indiana have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 8.11%, which ranks in the top 40% nationwide. This equates to an annual average Indiana house appreciation rate of 0.78%.
Over the last year, Indiana appreciation rates have trailed the rest of the nation. In the last twelve months, Indiana's appreciation rate has been -2.75%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Indiana were at -1.59%, which equates to an annual appreciation rate of -6.20%.
Notably, Indiana's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Pennsylvania, our data show that Indiana's latest annual appreciation rate is lower than 90% of the other cities and towns in Pennsylvania.
One very important thing to keep in mind is that these are average appreciation rates for the borough. Individual neighborhoods within Indiana differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Indiana - 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 Indiana real estate investment or home purchase decisions.
|$754,001 - $1,006,000||0.0|
|$503,001 - $754,000||0.3|
|$403,001 - $503,000||1.6|
|$302,001 - $403,000||0.8|
|$201,001 - $302,000||11.1|
|$100,001 - $201,000||40.9|
|$50,001 - $100,000||42.1|
|$0 - $50,000||3.0|
|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 Indiana HOMES|
|2000 or Newer||8.5|
|1970 - 1999||25.4|
|1940 - 1969||33.6|
|1939 or Older||32.5|
|TYPE OF Indiana HOMES|
|Small Apt. Buildings||23.8|
|SIZE OF Indiana HOMES|
|5 or more bedrooms||4.19|