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 58,335, 23,088 total housing units (homes and apartments), and a median house value of $116,421, house prices in Terre Haute are some of the most affordable in Indiana as well as the nation.
Single-family detached homes are the single most common housing type in Terre Haute, accounting for 67.42% of the city's housing units. Other types of housing that are prevalent in Terre Haute include large apartment complexes or high rise apartments ( 16.64%), duplexes, homes converted to apartments or other small apartment buildings ( 12.69%), and a few row houses and other attached homes ( 2.40%).
People in Terre Haute primarily live in small (one, two or no bedroom) single-family detached homes. Terre Haute has a mixture of owner-occupied and renter-occupied housing.
The housing in Terre Haute was primarily built before 1939 ( 31.67%), making the housing stock in Terre Haute some of the oldest overall in America, although there is a range of ages of homes in Terre Haute. The next most important housing age is between 1940-1969 ( 28.71%), followed by between 1970-1999 ( 25.68%). There's also some housing in Terre Haute built between 2000 and later ( 13.94%).
Vacant housing appears to be an issue in Terre Haute. Fully 12.05% of the housing stock is classified as vacant. Left unchecked, vacant Terre Haute homes and apartments can be a drag on the real estate market, holding Terre Haute 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.
Terre Haute's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Terre Haute during the period has been just 5.15%, which is lower than 70% of US communities.
NeighborhoodScout's data show that during the latest twelve months, Terre Haute's appreciation rate, at 4.82%, has been at or slightly above the national average. In the latest quarter, Terre Haute's appreciation rate has been 0.22%, which annualizes to a rate of 0.89%.
Relative to Indiana, our data show that Terre Haute's latest annual appreciation rate is lower than 60% 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 Terre Haute differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Terre Haute - 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 Terre Haute real estate investment or home purchase decisions.
$116,421
for Indiana
for nation
23,088
$1,385 / per month