Corunna, 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 Q1 2021. 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

Corunna, MI Housing Market Trends

With 3,344 people, 1,370 houses or apartments, and a median cost of homes of $117,394, house prices in Corunna are solidly below the national average.

Single-family detached homes are the single most common housing type in Corunna, accounting for 58.71% of the city's housing units. Other types of housing that are prevalent in Corunna include large apartment complexes or high rise apartments ( 35.82%), duplexes, homes converted to apartments or other small apartment buildings ( 5.47%).

People in Corunna primarily live in small (one, two or no bedroom) single-family detached homes. Corunna has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Corunna 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 Corunna built between 1940-1969 ( 31.89%). A lesser amount of the housing stock also hails from before 1939 ( 14.08%). There's also some housing in Corunna built between 2000 and later ( 8.54%).

Corunna Home Appreciation Rates

Appreciation rates for homes in Corunna have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 44.75%, which ranks in the top 40% nationwide. This equates to an annual average Corunna house appreciation rate of 3.77%.

Over the last year, Corunna appreciation rates have trailed the rest of the nation. In the last twelve months, Corunna's appreciation rate has been 5.31%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Corunna were at 1.84%, which equates to an annual appreciation rate of 7.55%.

Relative to Michigan, our data show that Corunna's latest annual appreciation rate is lower than 70% of the other cities and towns in Michigan.

Average Home Values

 

Median Home Value:
$117,394

Corunna, MI HOME PRICES

> $1,161,000
0.0%
0.0%
$871,001 - $1,161,000
0.0%
0.0%
$581,001 - $871,000
0.4%
0.4%
$465,001 - $581,000
0.0%
0.0%
$349,001 - $465,000
1.3%
1.3%
$232,001 - $349,000
8.1%
8.1%
$116,001 - $232,000
39.8%
39.8%
$58,001 - $116,000
42.5%
42.5%
$0 - $58,000
8.0%
8.0%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very Low for Nation

Low for MI

Value Relative To Nation

Number Of Homes And Apartments:
1,370

Corunna Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
2020 Q4 - 2021 Q1
Last 12 Months:
2020 Q1 - 2021 Q1
Last 2 Years:
2019 Q1 - 2021 Q1
Last 5 Years:
2016 Q1 - 2021 Q1
Last 10 Years:
2011 Q1 - 2021 Q1
Since 2000:
2000 Q1 - 2021 Q1
17.34% 0.76%
2
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,066 / per month

Homeownership Rate

Owners
48.0%
48.0%
Renters
52.0%
52.0%
Vacant
8.6%
8.6%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
8.5%
8.5%
1970 - 1999
45.5%
45.5%
1940 - 1969
31.9%
31.9%
1939 or Older
14.1%
14.1%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
58.7%
58.7%
Townhomes
0.0%
0.0%
Small Apt. Buildings
5.5%
5.5%
Apt. Complexes
35.8%
35.8%
Mobile Homes
0.0%
0.0%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.0%
0.0%
1 Bedroom
11.1%
11.1%
2 Bedrooms
40.8%
40.8%
3 Bedrooms
35.3%
35.3%
4 Bedrooms
12.7%
12.7%
5 or more bedrooms
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Popular Neighborhoods in Corunna

Zip Codes in Corunna, MI