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 4,609, 2,170 total housing units (homes and apartments), and a median house value of $126,577, house prices in Michigan Center are some of the most affordable in Michigan as well as the nation.
Single-family detached homes are the single most common housing type in Michigan Center, accounting for 95.10% of the town's housing units. Other types of housing that are prevalent in Michigan Center include duplexes, homes converted to apartments or other small apartment buildings ( 3.23%), large apartment complexes or high rise apartments ( 1.38%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Michigan Center. Owner-occupied housing accounts for 82.30% of Michigan Center's homes, and 52.16% have either three or four bedrooms, which is average sized relative to America.
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. Michigan Center's housing was primarily built during this period, from the '40s through the '60s. A full 43.78% of the town's housing hails from this era. Other housing ages represented in Michigan Center include homes built before 1939 ( 27.69%) and housing constructed between 1970-1999 ( 18.06%). There's also some housing in Michigan Center built between 2000 and later ( 10.47%).
Appreciation rates for homes in Michigan Center have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 91.72%, which ranks in the top 50% nationwide. This equates to an annual average Michigan Center house appreciation rate of 6.73%.
Over the last year, Michigan Center appreciation rates have trailed the rest of the nation. In the last twelve months, Michigan Center's appreciation rate has been 1.60%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Michigan Center were at 3.84%, which equates to an annual appreciation rate of 16.27%.
Importantly, this makes Michigan Center one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.
Relative to Michigan, our data show that Michigan Center's latest annual appreciation rate is lower than 90% of the other cities and towns in Michigan.
$126,577
for Michigan
for nation
2,170
$1,995 / per month