Attica, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Attica, 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

Attica Housing Market Information

With 990 people, 254 houses or apartments, and a median cost of homes of $162,226, Attica real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Attica, accounting for 95.87% of the town's housing units. Other types of housing that are prevalent in Attica include duplexes, homes converted to apartments or other small apartment buildings ( 2.33%), mobile homes or trailers ( 1.81%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Attica. Owner-occupied housing accounts for 92.06% of Attica's homes, and 55.56% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Attica 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 Attica built between 1940-1969 ( 25.84%). A lesser amount of the housing stock also hails from between 2000 and later ( 20.67%). There's also some housing in Attica built before 1939 ( 8.79%).

Vacant housing appears to be an issue in Attica. Fully 34.37% of the housing stock is classified as vacant. Left unchecked, vacant Attica homes and apartments can be a drag on the real estate market, holding Attica 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.

Attica Home Appreciation Rates

Attica's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Attica during the period has been just -1.28%, which is lower than 70% of US communities.

Appreciation rates are so strong in Attica that despite a nationwide downturn in the housing market, Attica real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Attica appreciation rates continue to be some of the highest in America, at 12.72%, which is higher than appreciation rates in 98.20% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Attica. Attica appreciation rates in the latest quarter were at 1.86%, which equates to an annual appreciation rate of 7.66%.

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

Relative to Michigan, our data show that Attica's latest annual appreciation rate is higher than 90% of the other cities and towns in Michigan.

Average Home Values

 

Median Home Value:
$162,226

Attica, MI HOME PRICES

Value Range
> $1,203,000 0.0
$903,001 - $1,203,000 0.0
$602,001 - $903,000 0.0
$481,001 - $602,000 0.0
$361,001 - $481,000 5.1
$241,001 - $361,000 17.5
$120,001 - $241,000 48.9
$60,001 - $120,000 17.8
$0 - $60,000 10.7

High for MI
Average for Nation

Value Relative to Nation Value Relative to State
44.7204968944099 30.6089743589744

Number Of Homes And Apartments:
254

Attica 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
-5.74% -0.34% 2 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,053 / per month

Homeownership Rate

Homeownership
Owners 92.06
Renters 7.94
Vacant 34.37

Housing Market Details

 

Age of Homes

AGE OF Attica HOMES
2000 or Newer 20.7
1970 - 1999 44.7
1940 - 1969 25.8
1939 or Older 8.8

Types of Homes

TYPE OF Attica HOMES
Single-Family 95.9
Townhomes 0.0
Small Apt. Buildings 2.3
Apt. Complexes 0.0
Mobile Homes 1.8
Other 0.0

Home Size

SIZE OF Attica HOMES
No Bedroom 0.00
1 Bedroom 9.56
2 Bedrooms 33.07
3 Bedrooms 51.94
4 Bedrooms 3.62
5 or more bedrooms 1.81

Popular Neighborhoods in Attica

Zip Codes in Attica, MI