East Jordan, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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East Jordan, MI Real Estate Data


East Jordan Housing Market Information

With 2,371 people, 899 houses or apartments, and a median cost of homes of $86,830, 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 68.07% of the city's housing units. Other types of housing that are prevalent in East Jordan include large apartment complexes or high rise apartments ( 15.62%), mobile homes or trailers ( 8.67%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.87%).

Dwellings in East Jordan tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 50.99% 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 ( 34.59%). A lesser amount of the housing stock also hails from before 1939 ( 21.37%). There's also some housing in East Jordan built between 2000 and later ( 7.73%).

Vacant housing appears to be an issue in East Jordan. Fully 22.83% 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 27.47% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows East Jordan home appreciation rates at 1.43%, which equates to an annual appreciation rate of 5.84%.

Over the last year, East Jordan appreciation rates have trailed the rest of the nation. In the last twelve months, East Jordan's appreciation rate has been 2.35%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in East Jordan were at 1.43%, which equates to an annual appreciation rate of 5.84%.

Relative to Michigan, our data show that East Jordan's latest annual appreciation rate is lower than 90% of the other cities and towns in Michigan.

Average Home Values

 

Median Home Value:
$86,830

East Jordan, MI HOME PRICES

Value Range
> $1,090,000 0.0
$818,001 - $1,090,000 0.0
$545,001 - $818,000 2.3
$436,001 - $545,000 1.8
$327,001 - $436,000 0.7
$218,001 - $327,000 5.6
$109,001 - $218,000 28.1
$54,001 - $109,000 29.5
$0 - $54,000 31.9

Very Low for MI
Very Low for Nation

Value Relative to Nation Value Relative to State
87.2518592258593 90.224358974359

Number Of Homes And Apartments:
899

Rent & Ownership

 

Average Market Rent:
$714 / per month

Homeownership Rate

Homeownership
Owners 72.50
Renters 27.50
Vacant 22.83

Housing Market Details

 

Age of Homes

AGE OF East Jordan HOMES
2000 or Newer 7.7
1970 - 1999 36.3
1940 - 1969 34.6
1939 or Older 21.4

Types of Homes

TYPE OF East Jordan HOMES
Single-Family 68.1
Townhomes 0.8
Small Apt. Buildings 6.9
Apt. Complexes 15.6
Mobile Homes 8.7
Other 0.0

Home Size

SIZE OF East Jordan HOMES
No Bedroom 0.77
1 Bedroom 9.87
2 Bedrooms 40.34
3 Bedrooms 37.68
4 Bedrooms 8.76
5 or more bedrooms 2.58

East Jordan Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
-4.32% -0.26% 2 1
* 10 is highest