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 2,733 people, 1,106 houses or apartments, and a median cost of homes of $223,288, house prices in Lagrange are solidly below the national average.
Single-family detached homes are the single most common housing type in Lagrange, accounting for 51.85% of the town's housing units. Other types of housing that are prevalent in Lagrange include large apartment complexes or high rise apartments ( 20.61%), duplexes, homes converted to apartments or other small apartment buildings ( 15.14%), and a few mobile homes or trailers ( 10.79%).
People in Lagrange primarily live in small (one, two or no bedroom) single-family detached homes. Lagrange has a mixture of owner-occupied and renter-occupied housing.
The housing in Lagrange was primarily built before 1939 ( 42.59%), making the housing stock in Lagrange some of the oldest overall in America, although there is a range of ages of homes in Lagrange. The next most important housing age is between 1970-1999 ( 39.61%), followed by between 1940-1969 ( 14.90%). There's also some housing in Lagrange built between 2000 and later ( 2.90%).
Vacant housing appears to be an issue in Lagrange. Fully 10.95% of the housing stock is classified as vacant. Left unchecked, vacant Lagrange homes and apartments can be a drag on the real estate market, holding Lagrange 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 Lagrange have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 94.00%, which ranks in the top 50% nationwide. This equates to an annual average Lagrange house appreciation rate of 6.85%.
Over the last year, Lagrange appreciation rates have trailed the rest of the nation. In the last twelve months, Lagrange's appreciation rate has been 4.74%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Lagrange were at 1.91%, which equates to an annual appreciation rate of 7.88%.
Relative to Indiana, our data show that Lagrange's latest annual appreciation rate is lower than 60% of the other cities and towns in Indiana.
$223,288
for Indiana
for nation
1,106
$1,037 / per month