Carleton, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Carleton Neighborhoods Since 2000




Carleton, 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

Carleton Housing Market Information

With 2,338 people, 962 houses or apartments, and a median cost of homes of $218,609, Carleton real estate is some of the most expensive in Michigan, although Carleton home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Carleton, accounting for 46.37% of the village's housing units. Other types of housing that are prevalent in Carleton include mobile homes or trailers ( 39.11%), large apartment complexes or high rise apartments ( 11.34%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.72%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Carleton. Owner-occupied housing accounts for 81.39% of Carleton's homes, and 66.88% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Carleton 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 Carleton built between 2000 and later ( 19.24%). A lesser amount of the housing stock also hails from between 1940-1969 ( 16.79%). There's also some housing in Carleton built before 1939 ( 11.43%).

Vacant housing appears to be an issue in Carleton. Fully 12.70% of the housing stock is classified as vacant. Left unchecked, vacant Carleton homes and apartments can be a drag on the real estate market, holding Carleton 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.

Carleton Home Appreciation Rates

Real estate appreciation rates in Carleton's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 0.00% during the period.

Appreciation rates are so strong in Carleton that despite a nationwide downturn in the housing market, Carleton real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Carleton appreciation rates continue to be some of the highest in America, at 9.68%, which is higher than appreciation rates in 92.87% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Carleton. Carleton appreciation rates in the latest quarter were at 0.67%, which equates to an annual appreciation rate of 2.71%.

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

Average Home Values

 

Median Home Value:
$218,609

Carleton, MI HOME PRICES

Value Range
> $1,286,000 2.1
$965,001 - $1,286,000 0.0
$643,001 - $965,000 2.8
$514,001 - $643,000 1.5
$386,001 - $514,000 6.8
$257,001 - $386,000 29.4
$129,001 - $257,000 31.2
$64,001 - $129,000 10.4
$0 - $64,000 15.9

Very High for MI
High for Nation

Value Relative to Nation Value Relative to State
27.956170162897 11.8589743589744

Number Of Homes And Apartments:
962

Carleton 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
6.11% 0.34% 5 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$868 / per month

Homeownership Rate

Homeownership
Owners 81.39
Renters 18.61
Vacant 12.70

Housing Market Details

 

Age of Homes

AGE OF Carleton HOMES
2000 or Newer 19.2
1970 - 1999 52.5
1940 - 1969 16.8
1939 or Older 11.4

Types of Homes

TYPE OF Carleton HOMES
Single-Family 46.4
Townhomes 0.5
Small Apt. Buildings 2.7
Apt. Complexes 11.3
Mobile Homes 39.1
Other 0.0

Home Size

SIZE OF Carleton HOMES
No Bedroom 1.63
1 Bedroom 6.44
2 Bedrooms 23.77
3 Bedrooms 59.80
4 Bedrooms 7.08
5 or more bedrooms 1.27