East Jordan, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating East Jordan Neighborhoods Since 2000




East Jordan, 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

East Jordan Housing Market Information

With 2,371 people, 959 houses or apartments, and a median cost of homes of $88,621, house prices in East Jordan are some of the most affordable in Michigan as well as the nation.

Single-family detached homes are the single most common housing type in East Jordan, accounting for 66.89% of the city's housing units. Other types of housing that are prevalent in East Jordan include large apartment complexes or high rise apartments ( 17.27%), mobile homes or trailers ( 9.39%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.70%).

Dwellings in East Jordan tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 50.54% of the homes in East Jordan have two or fewer bedrooms.

There is a lot of housing in East Jordan 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 East Jordan built between 1940-1969 ( 29.25%). A lesser amount of the housing stock also hails from before 1939 ( 22.46%). There's also some housing in East Jordan built between 2000 and later ( 8.05%).

Vacant housing appears to be an issue in East Jordan. Fully 19.61% of the housing stock is classified as vacant. Left unchecked, vacant East Jordan homes and apartments can be a drag on the real estate market, holding East Jordan 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.

East Jordan Home Appreciation Rates

Homes have actually lost value in East Jordan over the last then years, as home values have seen a decline of 19.54% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows East Jordan home appreciation rates at 0.00%, which equates to an annual appreciation rate of 0.00%.

NeighborhoodScout's data show that during the latest twelve months, East Jordan's appreciation rate, at 5.30%, has been at or slightly above the national average. In the latest quarter, East Jordan's appreciation rate has been 0.00%, which annualizes to a rate of 0.00%.

Relative to Michigan, our data show that East Jordan's latest annual appreciation rate is lower than 50% of the other cities and towns in Michigan.

Average Home Values

 

Median Home Value:
$88,621

East Jordan, MI HOME PRICES

Value Range
> $1,135,000 2.4
$850,001 - $1,135,000 0.0
$567,001 - $850,000 3.2
$453,001 - $567,000 2.0
$340,001 - $453,000 0.5
$227,001 - $340,000 5.6
$114,001 - $227,000 24.4
$57,001 - $114,000 36.1
$0 - $57,000 26.0

Very Low for MI
Very Low for Nation

Value Relative to Nation Value Relative to State
84.9935544357201 86.0576923076923

Number Of Homes And Apartments:
959

East Jordan 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
2.79% 0.16% 4 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$807 / per month

Homeownership Rate

Homeownership
Owners 67.80
Renters 32.20
Vacant 19.61

Housing Market Details

 

Age of Homes

AGE OF East Jordan HOMES
2000 or Newer 8.0
1970 - 1999 40.2
1940 - 1969 29.3
1939 or Older 22.5

Types of Homes

TYPE OF East Jordan HOMES
Single-Family 66.9
Townhomes 0.8
Small Apt. Buildings 5.7
Apt. Complexes 17.3
Mobile Homes 9.4
Other 0.0

Home Size

SIZE OF East Jordan HOMES
No Bedroom 0.84
1 Bedroom 12.07
2 Bedrooms 37.64
3 Bedrooms 38.06
4 Bedrooms 8.30
5 or more bedrooms 3.10