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 23,664, 9,296 total housing units (homes and apartments), and a median house value of $391,860, Munster real estate is some of the most expensive in Indiana, although Munster home values aren't among America's most expensive.
Single-family detached homes are the single most common housing type in Munster, accounting for 76.85% of the town's housing units. Other types of housing that are prevalent in Munster include large apartment complexes or high rise apartments ( 11.77%), row houses and other attached homes ( 6.97%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.39%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Munster. Owner-occupied housing accounts for 85.22% of Munster's homes, and 70.15% have either three or four bedrooms, which is average sized relative to America.
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. Munster's housing was primarily built during this period, from the '40s through the '60s. A full 43.62% of the town's housing hails from this era. Other housing ages represented in Munster include homes built between 1970-1999 ( 40.58%) and housing constructed between 2000 and later ( 13.13%). There's also some housing in Munster built before 1939 ( 2.68%).
Real estate appreciation rates in Munster's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.80% during the period.
Appreciation rates are so strong in Munster that despite a nationwide downturn in the housing market, Munster real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Munster appreciation rates continue to be some of the highest in America, at 8.56%, which is higher than appreciation rates in 76.39% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Munster. Munster appreciation rates in the latest quarter were at 2.79%, which equates to an annual appreciation rate of 11.63%.
Relative to Indiana, our data show that Munster's latest annual appreciation rate is higher 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 town. Individual neighborhoods within Munster differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Munster - 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 Munster real estate investment or home purchase decisions.
$391,860
for Indiana
for nation
9,296
$2,104 / per month