Adrian, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Adrian Neighborhoods Since 2000




Adrian, MI Real Estate Data


Adrian Housing Market Information

With 20,691 people, 7,840 houses or apartments, and a median cost of homes of $90,586, 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 54.78% of the city's housing units. Other types of housing that are prevalent in Adrian include large apartment complexes or high rise apartments ( 20.55%), duplexes, homes converted to apartments or other small apartment buildings ( 14.34%), and a few mobile homes or trailers ( 7.48%).

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 47.42% owning and 52.58% renting.

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. Adrian's housing was primarily built during this period, from the '40s through the '60s. A full 33.31% of the city's housing hails from this era. Other housing ages represented in Adrian include homes built before 1939 ( 30.71%) and housing constructed between 1970-1999 ( 29.71%). There's also some housing in Adrian built between 2000 and later ( 6.26%).

Vacant housing appears to be an issue in Adrian. Fully 11.25% 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.

Adrian Home Appreciation Rates

Homes have actually lost value in Adrian over the last then years, as home values have seen a decline of 24.00% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Adrian home appreciation rates at 1.43%, which equates to an annual appreciation rate of 5.84%.

Over the last year, Adrian appreciation rates have trailed the rest of the nation. In the last twelve months, Adrian's appreciation rate has been 3.39%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Adrian were at 1.43%, which equates to an annual appreciation rate of 5.84%.

Relative to Michigan, our data show that Adrian's latest annual appreciation rate is lower than 80% 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.

Average Home Values

 

Median Home Value:
$90,586

Adrian, MI HOME PRICES

Value Range
> $1,145,000 0.3
$859,001 - $1,145,000 0.2
$573,001 - $859,000 0.0
$458,001 - $573,000 0.4
$344,001 - $458,000 1.4
$229,001 - $344,000 5.2
$114,001 - $229,000 21.3
$57,001 - $114,000 41.6
$0 - $57,000 29.6

Very Low for MI
Very Low for Nation

Value Relative to Nation Value Relative to State
84.9856532177783 87.5

Number Of Homes And Apartments:
7,840

Rent & Ownership

 

Average Market Rent:
$914 / per month

Homeownership Rate

Homeownership
Owners 47.42
Renters 52.58
Vacant 11.25

Housing Market Details

 

Age of Homes

AGE OF Adrian HOMES
2000 or Newer 6.3
1970 - 1999 29.7
1940 - 1969 33.3
1939 or Older 30.7

Types of Homes

TYPE OF Adrian HOMES
Single-Family 54.8
Townhomes 2.9
Small Apt. Buildings 14.3
Apt. Complexes 20.5
Mobile Homes 7.5
Other 0.0

Home Size

SIZE OF Adrian HOMES
No Bedroom 3.97
1 Bedroom 14.15
2 Bedrooms 27.39
3 Bedrooms 37.42
4 Bedrooms 13.06
5 or more bedrooms 4.00

Adrian Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
-16.46% -1.05% 1 1
* 10 is highest