Metropolitan Statistical Area (MSA):
Logansport, IN is a Metropolitan Statistical Area (MSA) comprising counties including Cass County.
There is no doubt that the housing market in the Logansport, IN metropolitan statistical area (MSA) has been on a roller coaster ride over the past few years. After reaching an all-time high in 2006, home prices began to plummet in 2007 and continued to decline through 2011. However, since 2012 there has been a gradual recovery, with prices rising each year.
One of the most notable trends in the Logansport MSA housing market is the increasing popularity of rental properties. According to data from the U.S. Census Bureau, the number of households that are renting their homes has increased from 29.9% in 2007 to 32.4% in 2016. This trend is likely being driven by a combination of factors, including the fact that many people are still hesitant to buy a home after witnessing the sharp decline in prices during the recession. Additionally, with more people moving to urban areas for work, there is simply more demand for rental units than there was previously.
Another trend that is worth noting is the changing demographics of homebuyers in the Logansport MSA. In recent years, there has been an increase in first-time buyers and buyers who are younger than 35 years old. This shift is likely due to a combination of factors such as low interest rates and an increase in available affordable housing options (due to the large number of foreclosures during and after the recession).
Overall, it seems that things are slowly but surely improving in terms of both prices and demand within the Logansport MSA housing market. While it may not be back to its pre-recession levels just yet, it appears to be well on its way towards full recovery