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
With 20,691 people, 7,869 houses or apartments, and a median cost of homes of $64,826, house prices in Adrian 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 Adrian, accounting for 55.29% of the city's housing units. Other types of housing that are prevalent in Adrian include large apartment complexes or high rise apartments ( 20.04%), duplexes, homes converted to apartments or other small apartment buildings ( 14.45%), and a few mobile homes or trailers ( 6.87%).
The most prevalent building size and type in Adrian are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 45.97% owning and 54.03% renting.
The housing in Adrian was primarily built before 1939 ( 31.92%), making the housing stock in Adrian some of the oldest overall in America, although there is a range of ages of homes in Adrian. The next most important housing age is between 1940-1969 ( 31.75%), followed by between 1970-1999 ( 30.02%). There's also some housing in Adrian built between 2000 and later ( 6.31%).
Vacant housing appears to be an issue in Adrian. Fully 10.80% of the housing stock is classified as vacant. Left unchecked, vacant Adrian homes and apartments can be a drag on the real estate market, holding Adrian 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.
Homes have actually lost value in Adrian over the last then years, as home values have seen a decline of 21.49% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Adrian home appreciation rates at 0.00%, which equates to an annual appreciation rate of 0.00%.
NeighborhoodScout's data show that during the latest twelve months, Adrian's appreciation rate, at 5.32%, has been at or slightly above the national average. In the latest quarter, Adrian's appreciation rate has been 0.00%, which annualizes to a rate of 0.00%.
Relative to Michigan, our data show that Adrian's latest annual appreciation rate is lower than 50% of the other cities and towns in Michigan.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Adrian differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Adrian - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Adrian real estate investment or home purchase decisions.
|$851,001 - $1,134,000||0.2|
|$567,001 - $851,000||0.2|
|$454,001 - $567,000||0.5|
|$340,001 - $454,000||1.4|
|$227,001 - $340,000||5.5|
|$113,001 - $227,000||22.0|
|$57,001 - $113,000||40.2|
|$0 - $57,000||29.8|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Adrian HOMES|
|2000 or Newer||6.3|
|1970 - 1999||30.0|
|1940 - 1969||31.8|
|1939 or Older||31.9|
|TYPE OF Adrian HOMES|
|Small Apt. Buildings||14.5|
|SIZE OF Adrian HOMES|
|5 or more bedrooms||3.71|