Alma, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Alma Neighborhoods Since 2000




Alma, 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

Alma Housing Market Information

With 9,193 people, 3,423 houses or apartments, and a median cost of homes of $101,143, house prices in Alma are solidly below the national average.

Single-family detached homes are the single most common housing type in Alma, accounting for 63.52% of the city's housing units. Other types of housing that are prevalent in Alma include large apartment complexes or high rise apartments ( 17.62%), duplexes, homes converted to apartments or other small apartment buildings ( 12.74%), and a few row houses and other attached homes ( 3.08%).

The most prevalent building size and type in Alma are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 47.07% owning and 52.93% 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. Alma's housing was primarily built during this period, from the '40s through the '60s. A full 36.11% of the city's housing hails from this era. Other housing ages represented in Alma include homes built before 1939 ( 28.70%) and housing constructed between 1970-1999 ( 27.58%). There's also some housing in Alma built between 2000 and later ( 7.62%).

Alma Home Appreciation Rates

Real estate appreciation rates in Alma's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.56% during the period.

NeighborhoodScout's data show that during the latest twelve months, Alma's appreciation rate, at 4.48%, has been at or slightly above the national average. In the latest quarter, Alma's appreciation rate has been 0.00%, which annualizes to a rate of 0.00%.

Relative to Michigan, our data show that Alma's latest annual appreciation rate is lower than 60% of the other cities and towns in Michigan.

Average Home Values

 

Median Home Value:
$101,143

Alma, MI HOME PRICES

Value Range
> $1,133,000 0.0
$850,001 - $1,133,000 0.0
$567,001 - $850,000 0.0
$453,001 - $567,000 0.0
$340,001 - $453,000 2.2
$226,001 - $340,000 4.0
$113,001 - $226,000 20.9
$57,001 - $113,000 55.5
$0 - $57,000 17.4

Low for MI
Low for Nation

Value Relative to Nation Value Relative to State
76.8897222547756 75.0

Number Of Homes And Apartments:
3,423

Alma 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
7.99% 0.45% 5 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$880 / per month

Homeownership Rate

Homeownership
Owners 47.07
Renters 52.93
Vacant 8.18

Housing Market Details

 

Age of Homes

AGE OF Alma HOMES
2000 or Newer 7.6
1970 - 1999 27.6
1940 - 1969 36.1
1939 or Older 28.7

Types of Homes

TYPE OF Alma HOMES
Single-Family 63.5
Townhomes 3.1
Small Apt. Buildings 12.7
Apt. Complexes 17.6
Mobile Homes 3.0
Other 0.0

Home Size

SIZE OF Alma HOMES
No Bedroom 2.68
1 Bedroom 12.88
2 Bedrooms 29.37
3 Bedrooms 38.12
4 Bedrooms 13.71
5 or more bedrooms 3.25