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 3,624, 1,454 total housing units (homes and apartments), and a median house value of $207,486, house prices in Knox are solidly below the national average.
Single-family detached homes are the single most common housing type in Knox, accounting for 70.39% of the city's housing units. Other types of housing that are prevalent in Knox include large apartment complexes or high rise apartments ( 16.51%), duplexes, homes converted to apartments or other small apartment buildings ( 10.65%), and a few mobile homes or trailers ( 2.45%).
The most prevalent building size and type in Knox are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 61.39% owning and 38.61% 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. Knox's housing was primarily built during this period, from the '40s through the '60s. A full 33.61% of the city's housing hails from this era. Other housing ages represented in Knox include homes built between 1970-1999 ( 31.10%) and housing constructed before 1939 ( 22.07%). There's also some housing in Knox built between 2000 and later ( 13.22%).
Vacant housing appears to be an issue in Knox. Fully 13.04% of the housing stock is classified as vacant. Left unchecked, vacant Knox homes and apartments can be a drag on the real estate market, holding Knox 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.
In the last 10 years, Knox has experienced some of the highest home appreciation rates of any community in the nation. Knox real estate appreciated 123.32% over the last ten years, which is an average annual home appreciation rate of 8.37%, putting Knox in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Knox definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Appreciation rates are so strong in Knox that despite a nationwide downturn in the housing market, Knox real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Knox appreciation rates continue to be some of the highest in America, at 11.68%, which is higher than appreciation rates in 92.92% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Knox. Knox appreciation rates in the latest quarter were at 1.91%, which equates to an annual appreciation rate of 7.88%.
Relative to Indiana, our data show that Knox's latest annual appreciation rate is higher than 90% of the other cities and towns in Indiana.
$207,486
for Indiana
for nation
1,454
$900 / per month