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 125,449, 54,278 total housing units (homes and apartments), and a median house value of $180,336, house prices in Topeka are solidly below the national average.
Single-family detached homes are the single most common housing type in Topeka, accounting for 65.54% of the city's housing units. Other types of housing that are prevalent in Topeka include large apartment complexes or high rise apartments ( 18.21%), duplexes, homes converted to apartments or other small apartment buildings ( 7.28%), and a few row houses and other attached homes ( 5.63%).
The most prevalent building size and type in Topeka are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 56.66% owning and 43.34% renting.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Topeka's housing was primarily built during this period, from the '40s through the '60s. A full 36.98% of the city's housing hails from this era. Other housing ages represented in Topeka include homes built between 1970-1999 ( 35.83%) and housing constructed before 1939 ( 17.40%). There's also some housing in Topeka built between 2000 and later ( 9.79%).
Topeka's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Topeka during the period has been just 5.60%, which is lower than 70% of US communities.
Over the last year, Topeka appreciation rates have trailed the rest of the nation. In the last twelve months, Topeka's appreciation rate has been 2.61%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Topeka were at 3.75%, which equates to an annual appreciation rate of 15.87%.
Importantly, this makes Topeka one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Kansas, our data show that Topeka's latest annual appreciation rate is lower than 90% of the other cities and towns in Kansas.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Topeka differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Topeka - 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 Topeka real estate investment or home purchase decisions.
$180,336
for Kansas
for nation
54,278
$1,333 / per month