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 a population of 101,964, 37,888 total housing units (homes and apartments), and a median house value of $568,877, Carmel house prices are not only among the most expensive in Indiana, Carmel real estate also is some of the most expensive in all of America.
Single-family detached homes are the single most common housing type in Carmel, accounting for 70.84% of the city's housing units. Other types of housing that are prevalent in Carmel include large apartment complexes or high rise apartments ( 19.90%), row houses and other attached homes ( 5.25%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.78%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Carmel. Owner-occupied housing accounts for 74.29% of Carmel's homes, and 58.21% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Carmel 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 Carmel built between 2000 and later ( 41.64%). A lesser amount of the housing stock also hails from between 1940-1969 ( 10.48%).
Appreciation rates for homes in Carmel have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 100.22%, which ranks in the top 40% nationwide. This equates to an annual average Carmel house appreciation rate of 7.19%.
NeighborhoodScout's data show that during the latest twelve months, Carmel's appreciation rate, at 5.99%, has been at or slightly above the national average. In the latest quarter, Carmel's appreciation rate has been -0.17%, which annualizes to a rate of -0.68%.
Notably, Carmel's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Indiana, our data show that Carmel's latest annual appreciation rate is lower than 50% 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 Carmel differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Carmel - 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 Carmel real estate investment or home purchase decisions.
$568,877
for Indiana
for nation
37,888
$2,641 / per month