The housing market in Somerville, IN is thriving. The median value of homes in the area is $101,700, which is significantly lower than the US median of $338,100. This difference in price makes Somerville an attractive choice for potential home buyers. Not only does it have lower prices than most other areas, but house appreciation over the last year was 16.17%, which is significantly higher than the national average of 8.27%. Overall, this makes Somerville a great option for those looking to invest in housing and secure solid returns on their investments.
The median home cost in Somerville is $101,700. Home appreciation the last 10 years has been 71.9%. Home Appreciation in Somerville is up 16.1%.
Average Age of Homes
- The median age of Somerville real estate is 57 years old
The Rental Market in Somerville
- Renters make up 9.4% of the Somerville population
- 0.0% of houses and apartments in Somerville, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.