Berrien Springs, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Berrien Springs, 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

Berrien Springs Housing Market Information

With a population of 1,764, 539 total housing units (homes and apartments), and a median house value of $169,470, Berrien Springs 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 Berrien Springs, accounting for 67.70% of the village's housing units. Other types of housing that are prevalent in Berrien Springs include large apartment complexes or high rise apartments ( 20.16%), duplexes, homes converted to apartments or other small apartment buildings ( 9.84%), and a few row houses and other attached homes ( 1.80%).

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

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. Berrien Springs's housing was primarily built during this period, from the '40s through the '60s. A full 36.89% of the village's housing hails from this era. Other housing ages represented in Berrien Springs include homes built before 1939 ( 30.49%) and housing constructed between 1970-1999 ( 19.84%). There's also some housing in Berrien Springs built between 2000 and later ( 12.79%).

Vacant housing appears to be an issue in Berrien Springs. Fully 11.64% of the housing stock is classified as vacant. Left unchecked, vacant Berrien Springs homes and apartments can be a drag on the real estate market, holding Berrien Springs 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.

Berrien Springs Home Appreciation Rates

Real estate appreciation rates in Berrien Springs's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.68% during the period.

Over the last year, Berrien Springs appreciation rates have trailed the rest of the nation. In the last twelve months, Berrien Springs's appreciation rate has been -0.16%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Berrien Springs were at 0.27%, which equates to an annual appreciation rate of 1.07%.

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

Average Home Values

 

Median Home Value:
$169,470

Berrien Springs, MI HOME PRICES

Value Range
> $1,053,000 0.5
$790,001 - $1,053,000 0.0
$526,001 - $790,000 2.6
$421,001 - $526,000 4.0
$316,001 - $421,000 3.4
$210,001 - $316,000 17.3
$105,001 - $210,000 52.9
$53,001 - $105,000 15.6
$0 - $53,000 3.6

High for MI
Average for Nation

Value Relative to Nation Value Relative to State
41.8434313840384 26.1217948717949

Number Of Homes And Apartments:
539

Berrien Springs 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
15.26% 0.83% 7 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$755 / per month

Homeownership Rate

Homeownership
Owners 53.79
Renters 46.21
Vacant 11.64

Housing Market Details

 

Age of Homes

AGE OF Berrien Springs HOMES
2000 or Newer 12.8
1970 - 1999 19.8
1940 - 1969 36.9
1939 or Older 30.5

Types of Homes

TYPE OF Berrien Springs HOMES
Single-Family 67.7
Townhomes 1.8
Small Apt. Buildings 9.8
Apt. Complexes 20.2
Mobile Homes 0.2
Other 0.3

Home Size

SIZE OF Berrien Springs HOMES
No Bedroom 0.66
1 Bedroom 12.79
2 Bedrooms 38.03
3 Bedrooms 36.72
4 Bedrooms 7.54
5 or more bedrooms 4.26

Popular Neighborhoods in Berrien Springs

Zip Codes in Berrien Springs, MI