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Real Estate Prices & Overview

Balsam median real estate price is $185,105, which is more expensive than 33.5% of the neighborhoods in Michigan and 20.0% of the neighborhoods in the U.S.

The average rental price in Balsam is currently $985, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 95.9% of Michigan neighborhoods.

Balsam is a remote neighborhood (based on population density) located in Crystal Falls, Michigan.

Balsam real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) single-family homes and mobile homes. Most of the residential real estate is owner occupied. Many of the residences in the Balsam neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.

Vacant apartments or homes are a major fact of life in Balsam. The current real estate vacancy rate here is 48.8%. This is higher than the rate of vacancies in 98.6% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (42.9%). This can occur in vacation areas, and occasionally it is also found in neighborhoods that are primarily filled with college students, as some apartments could be vacant when school is not in session. If you live here year round, you may find that a number of buildings in your neighborhood are actually empty.

Notable & Unique Neighborhood Characteristics

The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.

Real Estate

This neighborhood has wide open spaces, few people, and lots of space to stretch out. If you like locations that fit that description, you may like this neighborhood. Based on NeighborhoodScout's exclusive analysis, with only 6 people per square mile living here, this neighborhood is less crowded than 98.1% of America. One of the notable things about Balsam is that it is one of the quietest neighborhoods in America, according to NeighborhoodScout's exclusive analysis and quantitative rating of quietness. When you are here, you will find it to be very quiet. If quiet and peaceful are your cup of tea, you may have found a great place for you.

In addition, despite all of the residential real estate here in the Balsam neighborhood, NeighborhoodScout has discovered that much of it is vacant. In resort or second-home vacation areas, this naturally occurs because homes and apartments are seasonally occupied, and empty for a portion of the year. In non-vacation or resort areas, however, this can be an indicator of property abandonment or a weak real estate market. The vacancy rate here is 48.8%, which is higher than 98.6% of all U.S. neighborhoods.

People

If you're planning where to retire, the Balsam neighborhood in Crystal Falls is a great option to consider. According to NeighborhoodScout's exclusive retirement dream area analysis, it's peaceful and quiet, has above average safety ratings compared to other neighborhoods in MI, offers a wide range of housing options, and has already attracted an enviable mix of college educated seniors. This neighborhood ranks as better for retirement living than 89.5% of the neighborhoods in Michigan. If you are considering retiring to Michigan, this is a good neighborhood to look at.

Diversity

Did you know that the Balsam neighborhood has more Finnish and Danish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 10.9% of this neighborhood's residents have Finnish ancestry and 2.4% have Danish ancestry.

Balsam is also pretty special linguistically. Significantly, 11.2% of its residents five years old and above primarily speak Polish at home. While this may seem like a small percentage, it is higher than 98.5% of the neighborhoods in America.

The Neighbors

How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.

The neighbors in the Balsam neighborhood in Crystal Falls are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 78.3% of U.S. neighborhoods. With 17.5% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 64.6% of U.S. neighborhoods.

What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.

In the Balsam neighborhood, 37.7% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 25.6% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (19.2%), and 15.3% in sales and service jobs, from major sales accounts, to working in fast food restaurants.

Languages

The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Balsam neighborhood is English, spoken by 97.6% of households. Other important languages spoken here include Italian and Polish.

Ethnicity / Ancestry

Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.

In the Balsam neighborhood in Crystal Falls, MI, residents most commonly identify their ethnicity or ancestry as German (14.5%). There are also a number of people of Italian ancestry (13.2%), and residents who report Irish roots (11.6%), and some of the residents are also of Finnish ancestry (10.9%), along with some Polish ancestry residents (10.0%), among others.

Getting to Work

How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in Balsam neighborhood spend under 15 minutes commuting one-way to work (46.9% of working residents), one of the shortest commutes across America.

Here most residents (84.4%) drive alone in a private automobile to get to work. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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