Almont, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Almont, 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

Almont Housing Market Information

With 2,723 people, 1,036 houses or apartments, and a median cost of homes of $120,356, house prices in Almont are solidly below the national average.

Single-family detached homes are the single most common housing type in Almont, accounting for 69.15% of the village's housing units. Other types of housing that are prevalent in Almont include mobile homes or trailers ( 15.10%), duplexes, homes converted to apartments or other small apartment buildings ( 7.73%), and a few large apartment complexes or high rise apartments ( 4.37%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Almont. Owner-occupied housing accounts for 82.05% of Almont's homes, and 57.05% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Almont built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Almont built before 1939 ( 27.93%). A lesser amount of the housing stock also hails from between 1940-1969 ( 13.19%). There's also some housing in Almont built between 2000 and later ( 9.83%).

Almont Home Appreciation Rates

Almont's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Almont during the period has been just -1.34%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Almont's appreciation rate, at 5.03%, has been at or slightly above the national average. In the latest quarter, Almont's appreciation rate has been 1.86%, which annualizes to a rate of 7.66%.

Importantly, this makes Almont one of the highest appreciating communities in the nation for the latest quarter, and may signal the village's near-future real estate investment strength.

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

Average Home Values

 

Median Home Value:
$120,356

Almont, MI HOME PRICES

Value Range
> $1,232,000 0.5
$924,001 - $1,232,000 0.0
$616,001 - $924,000 0.5
$493,001 - $616,000 0.0
$370,001 - $493,000 0.7
$247,001 - $370,000 5.7
$123,001 - $247,000 47.9
$62,001 - $123,000 17.9
$0 - $62,000 26.7

Average for MI
Low for Nation

Value Relative to Nation Value Relative to State
65.1880932848939 58.6538461538462

Number Of Homes And Apartments:
1,036

Almont 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
-6.36% -0.38% 2 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$802 / per month

Homeownership Rate

Homeownership
Owners 82.05
Renters 17.95
Vacant 5.73

Housing Market Details

 

Age of Homes

AGE OF Almont HOMES
2000 or Newer 9.8
1970 - 1999 49.0
1940 - 1969 13.2
1939 or Older 27.9

Types of Homes

TYPE OF Almont HOMES
Single-Family 69.2
Townhomes 3.6
Small Apt. Buildings 7.7
Apt. Complexes 4.4
Mobile Homes 15.1
Other 0.0

Home Size

SIZE OF Almont HOMES
No Bedroom 0.00
1 Bedroom 6.82
2 Bedrooms 31.03
3 Bedrooms 45.13
4 Bedrooms 11.92
5 or more bedrooms 5.10

Popular Neighborhoods in Almont

Zip Codes in Almont, MI