Caseville, MI Housing Market Trends
With 644 people, 381 houses or apartments, and a median cost of homes of $275,447, Caseville 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 Caseville, accounting for 80.69% of the city's housing units. Other types of housing that are prevalent in Caseville include large apartment complexes or high rise apartments ( 10.09%), mobile homes or trailers ( 6.40%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.21%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Caseville. Owner-occupied housing accounts for 72.97% of Caseville's homes, and 50.92% have either three or four bedrooms, which is average sized relative to America.
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. Caseville's housing was primarily built during this period, from the '40s through the '60s. A full 42.19% of the city's housing hails from this era. Other housing ages represented in Caseville include homes built between 1970-1999 ( 38.50%) and housing constructed between 2000 and later ( 12.55%). There's also some housing in Caseville built before 1939 ( 6.77%).
A decent proportion of the Caseville housing stock is seasonally occupied. That is, homes and condos in Caseville are occupied by people for a portion of the year - mainly for vacation purposes - and then locked up and left unoccupied for the remainder of the year as owners return to their primary residences. This characteristic of the Caseville housing market speaks to its popularity as a vacation location of choice.
Caseville Home Appreciation Rates
In the last 10 years, Caseville has experienced some of the highest home appreciation rates of any community in the nation. Caseville real estate appreciated 127.75% over the last ten years, which is an average annual home appreciation rate of 8.58%, putting Caseville in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Caseville definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Appreciation rates are so strong in Caseville that despite a nationwide downturn in the housing market, Caseville real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Caseville appreciation rates continue to be some of the highest in America, at 10.14%, which is higher than appreciation rates in 81.77% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Caseville. Caseville appreciation rates in the latest quarter were at 2.55%, which equates to an annual appreciation rate of 10.58%.
Importantly, this makes Caseville one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Michigan, our data show that Caseville's latest annual appreciation rate is higher than 70% of the other cities and towns in Michigan.
Median Home Value
$275,447
Average
for Michigan
Average
for nation
Number of Homes And Apartments:
381
MI
America
2024 Q3 - 2024 Q4
2023 Q4 - 2024 Q4
2022 Q4 - 2024 Q4
2019 Q4 - 2024 Q4
2014 Q4 - 2024 Q4
2000 Q1 - 2024 Q4
Average Market Rent:
$786 / per month