Boyne Falls, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Boyne Falls Neighborhoods Since 2000




Boyne Falls, 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

Boyne Falls Housing Market Information

With 295 people, 123 houses or apartments, and a median cost of homes of $138,578, house prices in Boyne Falls are solidly below the national average.

Single-family detached homes are the single most common housing type in Boyne Falls, accounting for 59.20% of the village's housing units. Other types of housing that are prevalent in Boyne Falls include mobile homes or trailers ( 21.26%), duplexes, homes converted to apartments or other small apartment buildings ( 16.67%), and a few large apartment complexes or high rise apartments ( 1.72%).

Dwellings in Boyne Falls tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 54.02% of the homes in Boyne Falls have two or fewer bedrooms.

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. Boyne Falls's housing was primarily built during this period, from the '40s through the '60s. A full 38.51% of the village's housing hails from this era. Other housing ages represented in Boyne Falls include homes built between 1970-1999 ( 32.18%) and housing constructed before 1939 ( 27.01%). There's also some housing in Boyne Falls built between 2000 and later ( 2.30%).

Vacant housing appears to be an issue in Boyne Falls. Fully 29.31% of the housing stock is classified as vacant. Left unchecked, vacant Boyne Falls homes and apartments can be a drag on the real estate market, holding Boyne Falls 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.

Boyne Falls Home Appreciation Rates

Boyne Falls's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Boyne Falls during the period has been just -0.84%, which is lower than 70% of US communities.

Over the last year, Boyne Falls appreciation rates have trailed the rest of the nation. In the last twelve months, Boyne Falls's appreciation rate has been 1.46%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Boyne Falls were at 0.00%, which equates to an annual appreciation rate of 0.00%.

Relative to Michigan, our data show that Boyne Falls's latest annual appreciation rate is lower than 80% of the other cities and towns in Michigan.

Average Home Values

 

Median Home Value:
$138,578

Boyne Falls, MI HOME PRICES

Value Range
> $1,180,000 0.6
$886,001 - $1,180,000 0.0
$590,001 - $886,000 0.7
$472,001 - $590,000 1.4
$354,001 - $472,000 4.5
$236,001 - $354,000 14.7
$118,001 - $236,000 36.8
$59,001 - $118,000 24.3
$0 - $59,000 17.0

Average for MI
Average for Nation

Value Relative to Nation Value Relative to State
55.4787296378765 43.5897435897436

Number Of Homes And Apartments:
123

Boyne Falls 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
19.34% 1.03% 8 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,139 / per month

Homeownership Rate

Homeownership
Owners 81.30
Renters 18.70
Vacant 29.31

Housing Market Details

 

Age of Homes

AGE OF Boyne Falls HOMES
2000 or Newer 2.3
1970 - 1999 32.2
1940 - 1969 38.5
1939 or Older 27.0

Types of Homes

TYPE OF Boyne Falls HOMES
Single-Family 59.2
Townhomes 1.1
Small Apt. Buildings 16.7
Apt. Complexes 1.7
Mobile Homes 21.3
Other 0.0

Home Size

SIZE OF Boyne Falls HOMES
No Bedroom 0.00
1 Bedroom 10.92
2 Bedrooms 43.10
3 Bedrooms 36.21
4 Bedrooms 7.47
5 or more bedrooms 2.30

Popular Neighborhoods in Boyne Falls

Zip Codes in Boyne Falls, MI