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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With 10,373 people, 4,226 houses or apartments, and a median cost of homes of $93,000, house prices in Cadillac 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 Cadillac, accounting for 62.40% of the city's housing units. Other types of housing that are prevalent in Cadillac include duplexes, homes converted to apartments or other small apartment buildings ( 11.85%), mobile homes or trailers ( 11.13%), and a few large apartment complexes or high rise apartments ( 10.62%).
The most prevalent building size and type in Cadillac are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 61.13% owning and 38.87% 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. Cadillac's housing was primarily built during this period, from the '40s through the '60s. A full 33.83% of the city's housing hails from this era. Other housing ages represented in Cadillac include homes built before 1939 ( 30.30%) and housing constructed between 1970-1999 ( 26.81%). There's also some housing in Cadillac built between 2000 and later ( 9.05%).
Vacant housing appears to be an issue in Cadillac. Fully 13.83% of the housing stock is classified as vacant. Left unchecked, vacant Cadillac homes and apartments can be a drag on the real estate market, holding Cadillac 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.
Real estate appreciation rates in Cadillac's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.55% during the period.
Appreciation rates are so strong in Cadillac that despite a nationwide downturn in the housing market, Cadillac real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Cadillac appreciation rates continue to be some of the highest in America, at 8.00%, which is higher than appreciation rates in 86.69% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Cadillac. Cadillac appreciation rates in the latest quarter were at 0.00%, which equates to an annual appreciation rate of 0.00%.
Relative to Michigan, our data show that Cadillac's latest annual appreciation rate is higher than 70% of the other cities and towns in Michigan.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Cadillac differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Cadillac - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Cadillac real estate investment or home purchase decisions.
|$867,001 - $1,156,000||0.3|
|$578,001 - $867,000||0.7|
|$463,001 - $578,000||1.1|
|$347,001 - $463,000||2.2|
|$231,001 - $347,000||3.8|
|$116,001 - $231,000||27.1|
|$58,001 - $116,000||46.2|
|$0 - $58,000||18.5|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Cadillac HOMES|
|2000 or Newer||9.1|
|1970 - 1999||26.8|
|1940 - 1969||33.8|
|1939 or Older||30.3|
|TYPE OF Cadillac HOMES|
|Small Apt. Buildings||11.8|
|SIZE OF Cadillac HOMES|
|5 or more bedrooms||2.90|