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 3,601 people, 1,374 houses or apartments, and a median cost of homes of $176,569, house prices in Paoli are solidly below the national average.
Single-family detached homes are the single most common housing type in Paoli, accounting for 68.16% of the town's housing units. Other types of housing that are prevalent in Paoli include mobile homes or trailers ( 16.13%), duplexes, homes converted to apartments or other small apartment buildings ( 7.49%), and a few large apartment complexes or high rise apartments ( 7.37%).
The most prevalent building size and type in Paoli are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 58.04% owning and 41.96% renting.
There is a lot of housing in Paoli 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 Paoli built between 1940-1969 ( 27.43%). A lesser amount of the housing stock also hails from before 1939 ( 24.35%). There's also some housing in Paoli built between 2000 and later ( 10.82%).
Vacant housing appears to be an issue in Paoli. Fully 16.98% of the housing stock is classified as vacant. Left unchecked, vacant Paoli homes and apartments can be a drag on the real estate market, holding Paoli 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.
Appreciation rates for homes in Paoli have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 108.15%, which ranks in the top 30% nationwide. This equates to an annual average Paoli house appreciation rate of 7.61%.
NeighborhoodScout's data show that during the latest twelve months, Paoli's appreciation rate, at 6.26%, has been at or slightly above the national average. In the latest quarter, Paoli's appreciation rate has been 1.91%, which annualizes to a rate of 7.88%.
Relative to Indiana, our data show that Paoli's latest annual appreciation rate is higher than 50% of the other cities and towns in Indiana.
$176,569
for Indiana
for nation
1,374
$1,144 / per month