Chesaning, MI Real Estate Market

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 Q4 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Chesaning, MI Housing Market Trends

With a population of 2,238, 990 total housing units (homes and apartments), and a median house value of $125,486, house prices in Chesaning are solidly below the national average.

Single-family detached homes are the single most common housing type in Chesaning, accounting for 69.80% of the village's housing units. Other types of housing that are prevalent in Chesaning include large apartment complexes or high rise apartments ( 13.50%), duplexes, homes converted to apartments or other small apartment buildings ( 12.41%), and a few row houses and other attached homes ( 3.65%).

The most prevalent building size and type in Chesaning are three and four bedroom dwellings, chiefly found in single-family detached homes. The village has a mixture of owners and renters, with 59.71% owning and 40.29% renting.

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. Chesaning's housing was primarily built during this period, from the '40s through the '60s. A full 33.67% of the village's housing hails from this era. Other housing ages represented in Chesaning include homes built between 1970-1999 ( 33.39%) and housing constructed before 1939 ( 32.30%).

Chesaning Home Appreciation Rates

Appreciation rates for homes in Chesaning have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 33.03%, which ranks in the top 50% nationwide. This equates to an annual average Chesaning house appreciation rate of 2.89%.

NeighborhoodScout's data show that during the latest twelve months, Chesaning's appreciation rate, at 5.17%, has been at or slightly above the national average. In the latest quarter, Chesaning's appreciation rate has been 2.97%, which annualizes to a rate of 12.41%.

Importantly, this makes Chesaning one of the highest appreciating communities in the nation for the latest quarter, and may signal the village's near-future real estate investment strength.

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

Average Home Values

 
info

Median Home Value:
$125,486

Chesaning, MI HOME PRICES

> $1,189,000
0.5%
0.5%
$892,001 - $1,189,000
0.0%
0.0%
$595,001 - $892,000
0.7%
0.7%
$476,001 - $595,000
0.0%
0.0%
$357,001 - $476,000
0.0%
0.0%
$238,001 - $357,000
9.1%
9.1%
$119,001 - $238,000
40.6%
40.6%
$59,001 - $119,000
40.4%
40.4%
$0 - $59,000
8.8%
8.8%
0.0% 100.0%
% OF HOMES
Value Relative To State

Low for Nation

Low for MI

Value Relative To Nation

Number Of Homes And Apartments:
990

Chesaning Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
14.76% 0.66%
2
1
* 10 is highest

Rent & Ownership

 
info

Average Market Rent:
$842 / per month

Homeownership Rate

Owners
59.7%
59.7%
Renters
40.3%
40.3%
Vacant
9.7%
9.7%
0.0% 100.0%
% OF HOMES

Housing Market Details

 
info

Age of Homes

2000 or Newer
0.6%
0.6%
1970 - 1999
33.4%
33.4%
1940 - 1969
33.7%
33.7%
1939 or Older
32.3%
32.3%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
69.8%
69.8%
Townhomes
3.6%
3.6%
Small Apt. Buildings
12.4%
12.4%
Apt. Complexes
13.5%
13.5%
Mobile Homes
0.6%
0.6%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.0%
0.0%
1 Bedroom
10.7%
10.7%
2 Bedrooms
34.8%
34.8%
3 Bedrooms
41.0%
41.0%
4 Bedrooms
9.6%
9.6%
5 or more bedrooms
4.0%
4.0%
0.0% 100.0%
% OF HOMES

Popular Neighborhoods in Chesaning

Zip Codes in Chesaning, MI