Caro, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Caro Neighborhoods Since 2000




Caro, 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

Caro Housing Market Information

With 4,099 people, 1,775 houses or apartments, and a median cost of homes of $79,940, house prices in Caro 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 Caro, accounting for 66.94% of the village's housing units. Other types of housing that are prevalent in Caro include large apartment complexes or high rise apartments ( 17.03%), duplexes, homes converted to apartments or other small apartment buildings ( 10.96%), and a few mobile homes or trailers ( 4.03%).

The most prevalent building size and type in Caro are three and four bedroom dwellings, chiefly found in single-family detached homes. The village has a mixture of owners and renters, with 55.99% owning and 44.01% renting.

There is a lot of housing in Caro 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 Caro built between 1940-1969 ( 32.26%). A lesser amount of the housing stock also hails from before 1939 ( 21.20%). There's also some housing in Caro built between 2000 and later ( 10.63%).

Vacant housing appears to be an issue in Caro. Fully 15.80% of the housing stock is classified as vacant. Left unchecked, vacant Caro homes and apartments can be a drag on the real estate market, holding Caro 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.

Caro Home Appreciation Rates

Homes have actually lost value in Caro over the last then years, as home values have seen a decline of 24.76% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Caro home appreciation rates at 0.00%, which equates to an annual appreciation rate of 0.00%.

Over the last year, Caro appreciation rates have trailed the rest of the nation. In the last twelve months, Caro's appreciation rate has been -3.84%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Caro were at 0.00%, which equates to an annual appreciation rate of 0.00%.

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

Average Home Values

 

Median Home Value:
$79,940

Caro, MI HOME PRICES

Value Range
> $1,053,000 0.0
$790,001 - $1,053,000 0.9
$526,001 - $790,000 0.0
$421,001 - $526,000 0.1
$316,001 - $421,000 0.8
$210,001 - $316,000 4.5
$105,001 - $210,000 24.4
$53,001 - $105,000 47.9
$0 - $53,000 21.5

Very Low for MI
Very Low for Nation

Value Relative to Nation Value Relative to State
90.5484589241767 91.8269230769231

Number Of Homes And Apartments:
1,775

Caro 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
-17.99% -1.14% 1 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$718 / per month

Homeownership Rate

Homeownership
Owners 55.99
Renters 44.01
Vacant 15.80

Housing Market Details

 

Age of Homes

AGE OF Caro HOMES
2000 or Newer 10.6
1970 - 1999 35.9
1940 - 1969 32.3
1939 or Older 21.2

Types of Homes

TYPE OF Caro HOMES
Single-Family 66.9
Townhomes 1.0
Small Apt. Buildings 11.0
Apt. Complexes 17.0
Mobile Homes 4.0
Other 0.0

Home Size

SIZE OF Caro HOMES
No Bedroom 0.71
1 Bedroom 16.46
2 Bedrooms 28.18
3 Bedrooms 37.95
4 Bedrooms 14.09
5 or more bedrooms 2.61

Popular Neighborhoods in Caro

Zip Codes in Caro, MI