Allegan, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Allegan, MI Real Estate Data

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Allegan Housing Market Information

With a population of 5,071, 2,071 total housing units (homes and apartments), and a median house value of $116,890, house prices in Allegan are solidly below the national average.

Single-family detached homes are the single most common housing type in Allegan, accounting for 62.66% of the city's housing units. Other types of housing that are prevalent in Allegan include large apartment complexes or high rise apartments ( 28.46%), duplexes, homes converted to apartments or other small apartment buildings ( 8.03%).

People in Allegan primarily live in small (one, two or no bedroom) single-family detached homes. Allegan has a mixture of owner-occupied and renter-occupied housing.

The housing in Allegan was primarily built before 1939 ( 44.39%), making the housing stock in Allegan some of the oldest overall in America, although there is a range of ages of homes in Allegan. The next most important housing age is between 1940-1969 ( 20.15%), followed by between 1970-1999 ( 19.88%). There's also some housing in Allegan built between 2000 and later ( 15.57%).

Allegan Home Appreciation Rates

Real estate appreciation rates in Allegan's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.34% during the period.

Appreciation rates are so strong in Allegan that despite a nationwide downturn in the housing market, Allegan real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Allegan appreciation rates continue to be some of the highest in America, at 6.14%, which is higher than appreciation rates in 75.19% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Allegan. Allegan appreciation rates in the latest quarter were at 0.00%, which equates to an annual appreciation rate of 0.00%.

Relative to Michigan, our data show that Allegan's latest annual appreciation rate is higher than 50% of the other cities and towns in Michigan.

Average Home Values

 

Median Home Value:
$116,890

Allegan, MI HOME PRICES

Value Range
> $1,204,000 0.7
$903,001 - $1,204,000 0.0
$602,001 - $903,000 0.1
$482,001 - $602,000 0.1
$361,001 - $482,000 3.0
$241,001 - $361,000 3.4
$120,001 - $241,000 40.9
$60,001 - $120,000 42.8
$0 - $60,000 9.1

Low for MI
Low for Nation

Value Relative to Nation Value Relative to State
67.209656627212 61.5384615384615

Number Of Homes And Apartments:
2,071

Allegan Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
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
Since 2000:
2000 Q1 - 2017 Q1
7.76% 0.43% 5 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$971 / per month

Homeownership Rate

Homeownership
Owners 50.01
Renters 49.99
Vacant 7.05

Housing Market Details

 

Age of Homes

AGE OF Allegan HOMES
2000 or Newer 15.6
1970 - 1999 19.9
1940 - 1969 20.2
1939 or Older 44.4

Types of Homes

TYPE OF Allegan HOMES
Single-Family 62.7
Townhomes 0.9
Small Apt. Buildings 8.0
Apt. Complexes 28.5
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Allegan HOMES
No Bedroom 1.89
1 Bedroom 12.57
2 Bedrooms 36.36
3 Bedrooms 32.05
4 Bedrooms 13.06
5 or more bedrooms 4.08

Popular Neighborhoods in Allegan

Zip Codes in Allegan, MI