Cedar Springs, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Cedar Springs, 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

Cedar Springs Housing Market Information

With 3,624 people, 1,247 houses or apartments, and a median cost of homes of $131,170, house prices in Cedar Springs are solidly below the national average.

Single-family detached homes are the single most common housing type in Cedar Springs, accounting for 49.85% of the city's housing units. Other types of housing that are prevalent in Cedar Springs include mobile homes or trailers ( 25.94%), large apartment complexes or high rise apartments ( 12.22%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 8.55%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Cedar Springs. Owner-occupied housing accounts for 65.32% of Cedar Springs's homes, and 50.52% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Cedar Springs 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 Cedar Springs built before 1939 ( 23.16%). A lesser amount of the housing stock also hails from between 1940-1969 ( 19.12%). There's also some housing in Cedar Springs built between 2000 and later ( 10.72%).

Cedar Springs Home Appreciation Rates

Appreciation rates for homes in Cedar Springs have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 4.16%, which ranks in the top 50% nationwide. This equates to an annual average Cedar Springs house appreciation rate of 0.41%.

Appreciation rates are so strong in Cedar Springs that despite a nationwide downturn in the housing market, Cedar Springs real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Cedar Springs appreciation rates continue to be some of the highest in America, at 10.78%, which is higher than appreciation rates in 95.67% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Cedar Springs. Cedar Springs appreciation rates in the latest quarter were at 3.68%, which equates to an annual appreciation rate of 15.57%.

Importantly, this makes Cedar Springs 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 Cedar Springs's latest annual appreciation rate is higher than 90% of the other cities and towns in Michigan.

Average Home Values

 

Median Home Value:
$131,170

Cedar Springs, MI HOME PRICES

Value Range
> $1,268,000 0.4
$951,001 - $1,268,000 0.0
$634,001 - $951,000 0.6
$507,001 - $634,000 0.0
$380,001 - $507,000 0.8
$254,001 - $380,000 0.4
$126,001 - $254,000 52.0
$63,001 - $126,000 23.2
$0 - $63,000 22.7

Average for MI
Average for Nation

Value Relative to Nation Value Relative to State
59.2288761279737 48.5576923076923

Number Of Homes And Apartments:
1,247

Cedar Springs 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
20.68% 1.10% 8 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$826 / per month

Homeownership Rate

Homeownership
Owners 65.32
Renters 34.68
Vacant 6.52

Housing Market Details

 

Age of Homes

AGE OF Cedar Springs HOMES
2000 or Newer 10.7
1970 - 1999 47.0
1940 - 1969 19.1
1939 or Older 23.2

Types of Homes

TYPE OF Cedar Springs HOMES
Single-Family 49.9
Townhomes 3.4
Small Apt. Buildings 8.5
Apt. Complexes 12.2
Mobile Homes 25.9
Other 0.0

Home Size

SIZE OF Cedar Springs HOMES
No Bedroom 0.00
1 Bedroom 9.97
2 Bedrooms 35.83
3 Bedrooms 34.86
4 Bedrooms 15.67
5 or more bedrooms 3.67

Popular Neighborhoods in Cedar Springs

Zip Codes in Cedar Springs, MI