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 3,664 people, 1,537 houses or apartments, and a median cost of homes of $309,540, Cedar Springs real estate and house prices are near the national average for all cities and towns.
Single-family detached homes are the single most common housing type in Cedar Springs, accounting for 54.11% of the city's housing units. Other types of housing that are prevalent in Cedar Springs include duplexes, homes converted to apartments or other small apartment buildings ( 17.19%), mobile homes or trailers ( 14.53%), and a few large apartment complexes or high rise apartments ( 11.56%).
The most prevalent building size and type in Cedar Springs are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 55.78% owning and 44.22% renting.
There is a lot of housing in Cedar Springs 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 Cedar Springs built between 1940-1969 ( 28.57%). A lesser amount of the housing stock also hails from before 1939 ( 20.72%). There's also some housing in Cedar Springs built between 2000 and later ( 14.22%).
In the last 10 years, Cedar Springs has experienced some of the highest home appreciation rates of any community in the nation. Cedar Springs real estate appreciated 139.98% over the last ten years, which is an average annual home appreciation rate of 9.15%, putting Cedar Springs in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Cedar Springs definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
NeighborhoodScout's data show that during the latest twelve months, Cedar Springs's appreciation rate, at 6.20%, has been at or slightly above the national average. In the latest quarter, Cedar Springs's appreciation rate has been 3.40%, which annualizes to a rate of 14.32%.
Importantly, this makes Cedar Springs 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 Michigan, our data show that Cedar Springs's latest annual appreciation rate is lower than 50% of the other cities and towns in Michigan.
$309,540
for Michigan
for nation
1,537
$1,748 / per month