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 6,562 people, 2,939 houses or apartments, and a median cost of homes of $200,651, house prices in North Vernon are solidly below the national average.
Single-family detached homes are the single most common housing type in North Vernon, accounting for 67.68% of the city's housing units. Other types of housing that are prevalent in North Vernon include large apartment complexes or high rise apartments ( 12.69%), duplexes, homes converted to apartments or other small apartment buildings ( 11.28%), and a few mobile homes or trailers ( 5.01%).
The most prevalent building size and type in North Vernon are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 55.54% owning and 44.46% renting.
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. North Vernon's housing was primarily built during this period, from the '40s through the '60s. A full 38.42% of the city's housing hails from this era. Other housing ages represented in North Vernon include homes built between 1970-1999 ( 38.07%) and housing constructed before 1939 ( 16.51%). There's also some housing in North Vernon built between 2000 and later ( 7.00%).
Appreciation rates for homes in North Vernon have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 101.62%, which ranks in the top 40% nationwide. This equates to an annual average North Vernon house appreciation rate of 7.26%.
Over the last year, North Vernon appreciation rates have trailed the rest of the nation. In the last twelve months, North Vernon's appreciation rate has been 5.25%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in North Vernon were at 1.91%, which equates to an annual appreciation rate of 7.88%.
Relative to Indiana, our data show that North Vernon's latest annual appreciation rate is lower than 60% of the other cities and towns in Indiana.
$200,651
for Indiana
for nation
2,939
$1,128 / per month