Dowagiac, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Dowagiac, 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

Dowagiac Housing Market Information

With 5,851 people, 2,187 houses or apartments, and a median cost of homes of $125,160, house prices in Dowagiac are solidly below the national average.

Single-family detached homes are the single most common housing type in Dowagiac, accounting for 68.10% of the city's housing units. Other types of housing that are prevalent in Dowagiac include large apartment complexes or high rise apartments ( 18.79%), duplexes, homes converted to apartments or other small apartment buildings ( 12.04%).

The most prevalent building size and type in Dowagiac are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 57.86% owning and 42.14% 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. Dowagiac's housing was primarily built during this period, from the '40s through the '60s. A full 39.64% of the city's housing hails from this era. Other housing ages represented in Dowagiac include homes built before 1939 ( 30.44%) and housing constructed between 1970-1999 ( 25.50%). There's also some housing in Dowagiac built between 2000 and later ( 4.42%).

Vacant housing appears to be an issue in Dowagiac. Fully 13.66% of the housing stock is classified as vacant. Left unchecked, vacant Dowagiac homes and apartments can be a drag on the real estate market, holding Dowagiac real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Dowagiac Home Appreciation Rates

Dowagiac's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Dowagiac during the period has been just -0.92%, which is lower than 70% of US communities.

Over the last year, Dowagiac appreciation rates have trailed the rest of the nation. In the last twelve months, Dowagiac's appreciation rate has been 1.01%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Dowagiac were at 1.40%, which equates to an annual appreciation rate of 5.73%.

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

Average Home Values

 

Median Home Value:
$125,160

Dowagiac, MI HOME PRICES

Value Range
> $1,077,000 0.6
$807,001 - $1,077,000 0.0
$538,001 - $807,000 1.7
$431,001 - $538,000 1.1
$323,001 - $431,000 2.5
$215,001 - $323,000 9.9
$108,001 - $215,000 32.8
$54,001 - $108,000 33.6
$0 - $54,000 17.9

Average for MI
Low for Nation

Value Relative to Nation Value Relative to State
62.5102543068089 54.6474358974359

Number Of Homes And Apartments:
2,187

Dowagiac 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
18.45% 0.99% 8 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$983 / per month

Homeownership Rate

Homeownership
Owners 57.86
Renters 42.14
Vacant 13.66

Housing Market Details

 

Age of Homes

AGE OF Dowagiac HOMES
2000 or Newer 4.4
1970 - 1999 25.5
1940 - 1969 39.6
1939 or Older 30.4

Types of Homes

TYPE OF Dowagiac HOMES
Single-Family 68.1
Townhomes 0.7
Small Apt. Buildings 12.0
Apt. Complexes 18.8
Mobile Homes 0.4
Other 0.0

Home Size

SIZE OF Dowagiac HOMES
No Bedroom 3.16
1 Bedroom 5.92
2 Bedrooms 38.29
3 Bedrooms 32.85
4 Bedrooms 15.71
5 or more bedrooms 4.07