The housing market in Elma, IA is showing impressive growth. The median value of homes in Elma is currently $152,500, which is significantly lower than the US median value of $338,100. However, the 1 year house appreciation rate for Elma is 11.21%, which is higher than the US average of 8.27%. This suggests that Elma's housing market is growing faster than the national average and could be a great option for potential homebuyers who are seeking more affordable options.
The median home cost in Elma is $152,500. Home appreciation the last 10 years has been 51.2%. Home Appreciation in Elma is up 13.3%.
Average Age of Homes
- The median age of Elma real estate is 78 years old
The Rental Market in Elma
- Renters make up 26.4% of the Elma population
- 3.3% of houses and apartments in Elma, 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.