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 1,794 people, 732 houses or apartments, and a median cost of homes of $226,631, house prices in Lawton are solidly below the national average.
Single-family detached homes are the single most common housing type in Lawton, accounting for 72.67% of the village's housing units. Other types of housing that are prevalent in Lawton include large apartment complexes or high rise apartments ( 20.21%), duplexes, homes converted to apartments or other small apartment buildings ( 5.05%), and a few mobile homes or trailers ( 1.68%).
The most prevalent building size and type in Lawton are three and four bedroom dwellings, chiefly found in single-family detached homes. The village has a mixture of owners and renters, with 60.94% owning and 39.06% renting.
There is a lot of housing in Lawton 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 Lawton built before 1939 ( 25.78%). A lesser amount of the housing stock also hails from between 1940-1969 ( 23.70%). There's also some housing in Lawton built between 2000 and later ( 10.10%).
Appreciation rates for homes in Lawton have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 97.34%, which ranks in the top 40% nationwide. This equates to an annual average Lawton house appreciation rate of 7.03%.
Appreciation rates are so strong in Lawton that despite a nationwide downturn in the housing market, Lawton real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Lawton appreciation rates continue to be some of the highest in America, at 10.42%, which is higher than appreciation rates in 89.10% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Lawton. Lawton appreciation rates in the latest quarter were at 0.88%, which equates to an annual appreciation rate of 3.56%.
Relative to Michigan, our data show that Lawton's latest annual appreciation rate is higher than 90% of the other cities and towns in Michigan.
$226,631
for Michigan
for nation
732
$1,429 / per month