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 6,596 people, 2,598 houses or apartments, and a median cost of homes of $220,410, house prices in Garrett are solidly below the national average.
Single-family detached homes are the single most common housing type in Garrett, accounting for 80.40% of the city's housing units. Other types of housing that are prevalent in Garrett include duplexes, homes converted to apartments or other small apartment buildings ( 8.97%), large apartment complexes or high rise apartments ( 5.24%), and a few mobile homes or trailers ( 4.36%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Garrett. Owner-occupied housing accounts for 80.87% of Garrett's homes, and 69.03% have either three or four bedrooms, which is average sized relative to America.
The housing in Garrett was primarily built before 1939 ( 37.38%), making the housing stock in Garrett some of the oldest overall in America, although there is a range of ages of homes in Garrett. The next most important housing age is between 1970-1999 ( 30.86%), followed by between 2000 and later ( 15.91%). There's also some housing in Garrett built between 1940-1969 ( 15.84%).
Appreciation rates for homes in Garrett have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 114.70%, which ranks in the top 30% nationwide. This equates to an annual average Garrett house appreciation rate of 7.94%.
Over the last year, Garrett appreciation rates have trailed the rest of the nation. In the last twelve months, Garrett's appreciation rate has been 6.22%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Garrett were at 3.03%, which equates to an annual appreciation rate of 12.69%.
Relative to Indiana, our data show that Garrett's latest annual appreciation rate is lower than 80% of the other cities and towns in Indiana.
$220,410
for Indiana
for nation
2,598
$1,252 / per month