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 53,801 people, 21,375 houses or apartments, and a median cost of homes of $166,145, house prices in Elkhart are some of the most affordable in Indiana as well as the nation.
Single-family detached homes are the single most common housing type in Elkhart, accounting for 53.22% of the city's housing units. Other types of housing that are prevalent in Elkhart include large apartment complexes or high rise apartments ( 24.87%), duplexes, homes converted to apartments or other small apartment buildings ( 11.45%), and a few mobile homes or trailers ( 8.60%).
People in Elkhart primarily live in small (one, two or no bedroom) single-family detached homes. Elkhart has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Elkhart built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Elkhart built between 1940-1969 ( 31.38%). A lesser amount of the housing stock also hails from before 1939 ( 23.58%). There's also some housing in Elkhart built between 2000 and later ( 8.11%).
Vacant housing appears to be an issue in Elkhart. Fully 13.19% of the housing stock is classified as vacant. Left unchecked, vacant Elkhart homes and apartments can be a drag on the real estate market, holding Elkhart 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 Elkhart have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 101.37%, which ranks in the top 40% nationwide. This equates to an annual average Elkhart house appreciation rate of 7.25%.
Over the last year, Elkhart appreciation rates have trailed the rest of the nation. In the last twelve months, Elkhart's appreciation rate has been 2.36%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Elkhart were at 1.28%, which equates to an annual appreciation rate of 5.22%.
Relative to Indiana, our data show that Elkhart's latest annual appreciation rate is lower than 80% 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 Elkhart differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Elkhart - 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 Elkhart real estate investment or home purchase decisions.
$166,145
for Indiana
for nation
21,375
$1,351 / per month