East Tawas appreciation rates and housing market information

East Tawas housing market information

With a population of 2,997, 1,702 total housing units (homes and apartments), and a median house value of $115,747, house prices in East Tawas are solidly below the national average.

single-family detached homes are the single most common housing type in East Tawas, accounting for 77.85% of the city's housing units. Other types of housing that are prevalent in East Tawas include large apartment complexes or high rise apartments (15.39%), duplexes, homes converted to apartments, or other small apartment buildings (4.47%), and a few row houses and other attached homes (1.88%).

Dwellings in East Tawas tend to be quite small (one, two, or no bedrooms) and owner-occupied. In fact, 54.41% of the homes in East Tawas have two or fewer bedrooms.

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. East Tawas's housing was primarily built during this period, from the '40s through the '60s. A full 43.36% of the city's housing hails from this era. Other housing ages represented in East Tawas include homes built between 1970-1994 (33.25%), and housing constructed from 1939 and earlier (18.51%). There's also some housing in East Tawas built between 1995 and later (4.88%).

Vacant housing appears to be an issue in East Tawas. Fully 17.68% of the housing stock is classified as vacant. Left unchecked, vacant East Tawas homes and apartments can be a drag on the real estate market, holding East Tawas 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.

East Tawas home appreciation rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in East Tawas, where house values have increased just 35.56%, which is an average annual increase of 3.55%. NeighborhoodScout's data show that in the latest quarter, East Tawas house values appreciated 2.18%, which is an annualized rate of 8.72%. This rate is lower than the appreciation rate found in 10% of the cities and towns in America.

Over the last year, East Tawas appreciation rates have trailed the rest of the nation. In the last twelve months, East Tawas's appreciation rate has been -1.73%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in East Tawas were at 2.18%, which equates to an annual appreciation rate of 8.72%.

Importantly, this makes East Tawas 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 East Tawas's latest annual appreciation rate is higher than 47% of the other cities and towns in Michigan.