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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.



Nappanee, 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 Q2 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

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

Nappanee, IN Housing Market Trends

With 6,899 people, 2,763 houses or apartments, and a median cost of homes of $276,371, Nappanee real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Nappanee, accounting for 60.74% of the city's housing units. Other types of housing that are prevalent in Nappanee include mobile homes or trailers ( 14.83%), duplexes, homes converted to apartments or other small apartment buildings ( 10.82%), and a few large apartment complexes or high rise apartments ( 9.23%).

The most prevalent building size and type in Nappanee are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 60.12% owning and 39.88% renting.

There is a lot of housing in Nappanee 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 Nappanee built between 2000 and later ( 29.15%). A lesser amount of the housing stock also hails from between 1940-1969 ( 22.84%). There's also some housing in Nappanee built before 1939 ( 16.59%).

Nappanee Home Appreciation Rates

Appreciation rates for homes in Nappanee have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 92.92%, which ranks in the top 50% nationwide. This equates to an annual average Nappanee house appreciation rate of 6.79%.

NeighborhoodScout's data show that during the latest twelve months, Nappanee's appreciation rate, at 6.45%, has been at or slightly above the national average. In the latest quarter, Nappanee's appreciation rate has been 1.31%, which annualizes to a rate of 5.35%.

Relative to Indiana, our data show that Nappanee's latest annual appreciation rate is higher than 50% of the other cities and towns in Indiana.

Average Home Values

Median Home Value

$276,371

Nappanee, IN Home Prices
> $1,486,000
$1,115,001 - $1,486,000
$743,001 - $1,115,000
$595,001 - $743,000
$446,001 - $595,000
$297,001 - $446,000
$149,001 - $297,000
$74,001 - $149,000
$0 - $74,000
0.2%
0.2%
0.3%
0.3%
1.1%
1.1%
6.5%
6.5%
4.4%
4.4%
34.8%
34.8%
40.3%
40.3%
8.2%
8.2%
4.1%
4.1%
0% 100.0%
% of Homes
High

for Indiana

Average

for nation

Number of Homes And Apartments:

2,763

Nappanee Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,237 / per month

Homeownership Rate

Owners
Renters
60.1%
60.1%
39.9%
39.9%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
6.2%
6.2%
93.8%
93.8%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
29.1%
29.1%
31.4%
31.4%
22.8%
22.8%
16.6%
16.6%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
60.7%
60.7%
4.4%
4.4%
10.8%
10.8%
9.2%
9.2%
14.8%
14.8%
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
0.8%
0.8%
8.5%
8.5%
20.4%
20.4%
49.9%
49.9%
8.6%
8.6%
11.8%
11.8%
0% 100.0%
% of Homes

Popular Neighborhoods in Nappanee

Zip Codes in Nappanee, IN