Charlevoix, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Charlevoix, 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

Charlevoix Housing Market Information

With a population of 2,540, 1,333 total housing units (homes and apartments), and a median house value of $194,575, Charlevoix real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Charlevoix, accounting for 62.21% of the city's housing units. Other types of housing that are prevalent in Charlevoix include large apartment complexes or high rise apartments ( 21.50%), duplexes, homes converted to apartments or other small apartment buildings ( 12.44%), and a few mobile homes or trailers ( 1.97%).

The most prevalent building size and type in Charlevoix are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 48.68% owning and 51.32% renting.

The housing in Charlevoix was primarily built before 1939 ( 35.96%), making the housing stock in Charlevoix some of the oldest overall in America, although there is a range of ages of homes in Charlevoix. The next most important housing age is between 1970-1999 ( 31.66%), followed by between 1940-1969 ( 26.94%). There's also some housing in Charlevoix built between 2000 and later ( 5.44%).

A decent proportion of the Charlevoix housing stock is seasonally occupied. That is, homes and condos in Charlevoix 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 Charlevoix housing market speaks to its popularity as a vacation location of choice.

Charlevoix Home Appreciation Rates

Charlevoix's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Charlevoix during the period has been just -1.20%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Charlevoix's appreciation rate, at 4.04%, has been at or slightly above the national average. In the latest quarter, Charlevoix's appreciation rate has been 0.00%, which annualizes to a rate of 0.00%.

Relative to Michigan, our data show that Charlevoix's latest annual appreciation rate is lower than 60% of the other cities and towns in Michigan.

Average Home Values

 

Median Home Value:
$194,575

Charlevoix, MI HOME PRICES

Value Range
> $1,126,000 1.4
$844,001 - $1,126,000 2.5
$563,001 - $844,000 1.4
$451,001 - $563,000 4.5
$338,001 - $451,000 8.3
$225,001 - $338,000 21.2
$113,001 - $225,000 41.1
$56,001 - $113,000 14.1
$0 - $56,000 5.6

Very High for MI
High for Nation

Value Relative to Nation Value Relative to State
33.5784600960975 16.3461538461538

Number Of Homes And Apartments:
1,333

Charlevoix 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
8.07% 0.45% 5 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$811 / per month

Homeownership Rate

Homeownership
Owners 48.68
Renters 51.32
Vacant 39.02

Housing Market Details

 

Age of Homes

AGE OF Charlevoix HOMES
2000 or Newer 5.4
1970 - 1999 31.7
1940 - 1969 26.9
1939 or Older 36.0

Types of Homes

TYPE OF Charlevoix HOMES
Single-Family 62.2
Townhomes 1.9
Small Apt. Buildings 12.4
Apt. Complexes 21.5
Mobile Homes 2.0
Other 0.0

Home Size

SIZE OF Charlevoix HOMES
No Bedroom 1.56
1 Bedroom 15.42
2 Bedrooms 21.87
3 Bedrooms 35.68
4 Bedrooms 17.20
5 or more bedrooms 8.28

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Zip Codes in Charlevoix, MI