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 10,134 people, 4,442 houses or apartments, and a median cost of homes of $151,435, house prices in Fort Madison are some of the most affordable in Iowa as well as the nation.
Single-family detached homes are the single most common housing type in Fort Madison, accounting for 75.63% of the city's housing units. Other types of housing that are prevalent in Fort Madison include large apartment complexes or high rise apartments ( 11.02%), duplexes, homes converted to apartments or other small apartment buildings ( 8.71%), and a few row houses and other attached homes ( 2.90%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Fort Madison. Owner-occupied housing accounts for 66.74% of Fort Madison's homes, and 48.35% have either three or four bedrooms, which is average sized relative to America.
The housing in Fort Madison was primarily built before 1939 ( 44.29%), making the housing stock in Fort Madison some of the oldest overall in America, although there is a range of ages of homes in Fort Madison. The next most important housing age is between 1940-1969 ( 30.75%), followed by between 1970-1999 ( 20.45%). There's also some housing in Fort Madison built between 2000 and later ( 4.51%).
Vacant housing appears to be an issue in Fort Madison. Fully 12.90% of the housing stock is classified as vacant. Left unchecked, vacant Fort Madison homes and apartments can be a drag on the real estate market, holding Fort Madison 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.
Real estate appreciation rates in Fort Madison's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.77% during the period.
NeighborhoodScout's data show that during the latest twelve months, Fort Madison's appreciation rate, at 6.83%, has been at or slightly above the national average. In the latest quarter, Fort Madison's appreciation rate has been 2.03%, which annualizes to a rate of 8.38%.
Relative to Iowa, our data show that Fort Madison's latest annual appreciation rate is higher than 50% of the other cities and towns in Iowa.
$151,435
for Iowa
for nation
4,442
$1,213 / per month