Bad Axe, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Bad Axe, 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

Bad Axe Housing Market Information

With 3,011 people, 1,299 houses or apartments, and a median cost of homes of $92,761, house prices in Bad Axe 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 Bad Axe, accounting for 74.87% of the city's housing units. Other types of housing that are prevalent in Bad Axe include large apartment complexes or high rise apartments ( 16.04%), duplexes, homes converted to apartments or other small apartment buildings ( 3.41%), and a few mobile homes or trailers ( 2.87%).

The most prevalent building size and type in Bad Axe are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 55.50% owning and 44.50% 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. Bad Axe's housing was primarily built during this period, from the '40s through the '60s. A full 34.09% of the city's housing hails from this era. Other housing ages represented in Bad Axe include homes built between 1970-1999 ( 30.55%) and housing constructed before 1939 ( 30.48%). There's also some housing in Bad Axe built between 2000 and later ( 4.88%).

Vacant housing appears to be an issue in Bad Axe. Fully 13.17% of the housing stock is classified as vacant. Left unchecked, vacant Bad Axe homes and apartments can be a drag on the real estate market, holding Bad Axe 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.

Bad Axe Home Appreciation Rates

Bad Axe's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Bad Axe during the period has been just -1.46%, which is lower than 80% of US communities.

Over the last year, Bad Axe appreciation rates have trailed the rest of the nation. In the last twelve months, Bad Axe's appreciation rate has been 3.06%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Bad Axe were at 0.00%, which equates to an annual appreciation rate of 0.00%.

Relative to Michigan, our data show that Bad Axe's latest annual appreciation rate is lower than 70% of the other cities and towns in Michigan.

Average Home Values

 

Median Home Value:
$92,761

Bad Axe, MI HOME PRICES

Value Range
> $1,079,000 0.3
$809,001 - $1,079,000 0.9
$540,001 - $809,000 1.1
$431,001 - $540,000 0.0
$324,001 - $431,000 0.0
$216,001 - $324,000 1.6
$108,001 - $216,000 33.4
$54,001 - $108,000 44.8
$0 - $54,000 18.0

Very Low for MI
Very Low for Nation

Value Relative to Nation Value Relative to State
82.1926637759287 82.051282051282

Number Of Homes And Apartments:
1,299

Bad Axe 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
-5.92% -0.35% 2 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$769 / per month

Homeownership Rate

Homeownership
Owners 55.50
Renters 44.50
Vacant 13.17

Housing Market Details

 

Age of Homes

AGE OF Bad Axe HOMES
2000 or Newer 4.9
1970 - 1999 30.5
1940 - 1969 34.1
1939 or Older 30.5

Types of Homes

TYPE OF Bad Axe HOMES
Single-Family 74.9
Townhomes 2.8
Small Apt. Buildings 3.4
Apt. Complexes 16.0
Mobile Homes 2.9
Other 0.0

Home Size

SIZE OF Bad Axe HOMES
No Bedroom 2.81
1 Bedroom 12.30
2 Bedrooms 25.94
3 Bedrooms 45.52
4 Bedrooms 11.23
5 or more bedrooms 2.21

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Zip Codes in Bad Axe, MI