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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Mitchell, IN Real Estate Market

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 Q4 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2023 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Mitchell, IN Housing Market Trends

With a population of 3,942, 1,522 total housing units (homes and apartments), and a median house value of $128,438, house prices in Mitchell 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 Mitchell, accounting for 65.89% of the city's housing units. Other types of housing that are prevalent in Mitchell include mobile homes or trailers ( 17.32%), large apartment complexes or high rise apartments ( 11.01%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.77%).

The most prevalent building size and type in Mitchell are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 59.45% owning and 40.55% renting.

There is a lot of housing in Mitchell 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 Mitchell built between 1940-1969 ( 21.85%). A lesser amount of the housing stock also hails from before 1939 ( 20.83%). There's also some housing in Mitchell built between 2000 and later ( 15.77%).

Mitchell Home Appreciation Rates

Appreciation rates for homes in Mitchell have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 96.79%, which ranks in the top 50% nationwide. This equates to an annual average Mitchell house appreciation rate of 7.00%.

Appreciation rates are so strong in Mitchell that despite a nationwide downturn in the housing market, Mitchell real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Mitchell appreciation rates continue to be some of the highest in America, at 9.88%, which is higher than appreciation rates in 78.68% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Mitchell. Mitchell appreciation rates in the latest quarter were at 2.24%, which equates to an annual appreciation rate of 9.28%.

Relative to Indiana, our data show that Mitchell's latest annual appreciation rate is higher than 70% of the other cities and towns in Indiana.

Average Home Values

Median Home Value

$128,438

Mitchell, IN Home Prices
> $1,286,000
$965,001 - $1,286,000
$643,001 - $965,000
$514,001 - $643,000
$386,001 - $514,000
$257,001 - $386,000
$129,001 - $257,000
$65,001 - $129,000
$0 - $65,000
0.0%
0.0%
0.1%
0.1%
0.8%
0.8%
0.5%
0.5%
5.0%
5.0%
9.2%
9.2%
38.5%
38.5%
35.9%
35.9%
9.9%
9.9%
0% 100.0%
% of Homes
Very Low

for Indiana

Very Low

for nation

Number of Homes And Apartments:

1,522

Mitchell Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,075 / per month

Homeownership Rate

Owners
Renters
59.4%
59.4%
40.6%
40.6%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
9.4%
9.4%
90.6%
90.6%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
15.8%
15.8%
41.5%
41.5%
21.8%
21.8%
20.8%
20.8%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
65.9%
65.9%
0.0%
0.0%
5.8%
5.8%
11.0%
11.0%
17.3%
17.3%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.0%
0.0%
8.8%
8.8%
28.5%
28.5%
50.2%
50.2%
11.4%
11.4%
1.2%
1.2%
0% 100.0%
% of Homes

Zip Codes in Mitchell, IN