Escanaba, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Escanaba Neighborhoods Since 2000




Escanaba, 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

Escanaba Housing Market Information

With 12,334 people, 5,693 houses or apartments, and a median cost of homes of $89,647, house prices in Escanaba 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 Escanaba, accounting for 64.75% of the city's housing units. Other types of housing that are prevalent in Escanaba include duplexes, homes converted to apartments or other small apartment buildings ( 14.47%), large apartment complexes or high rise apartments ( 13.41%), and a few mobile homes or trailers ( 4.87%).

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

The housing in Escanaba was primarily built before 1939 ( 45.54%), making the housing stock in Escanaba some of the oldest overall in America, although there is a range of ages of homes in Escanaba. The next most important housing age is between 1940-1969 ( 32.56%), followed by between 1970-1999 ( 17.97%). There's also some housing in Escanaba built between 2000 and later ( 3.93%).

Vacant housing appears to be an issue in Escanaba. Fully 11.13% of the housing stock is classified as vacant. Left unchecked, vacant Escanaba homes and apartments can be a drag on the real estate market, holding Escanaba 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.

Escanaba Home Appreciation Rates

Real estate appreciation rates in Escanaba's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.23% during the period.

NeighborhoodScout's data show that during the latest twelve months, Escanaba's appreciation rate, at 3.39%, has been at or slightly above the national average. In the latest quarter, Escanaba's appreciation rate has been 0.00%, which annualizes to a rate of 0.00%.

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

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Escanaba differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Escanaba - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Escanaba real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$89,647

Escanaba, MI HOME PRICES

Value Range
> $1,076,000 0.2
$807,001 - $1,076,000 0.0
$538,001 - $807,000 0.1
$430,001 - $538,000 0.3
$323,001 - $430,000 1.4
$215,001 - $323,000 4.6
$108,001 - $215,000 27.9
$54,001 - $108,000 48.7
$0 - $54,000 16.9

Very Low for MI
Very Low for Nation

Value Relative to Nation Value Relative to State
84.2552443454823 84.6153846153846

Number Of Homes And Apartments:
5,693

Escanaba 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
10.11% 0.56% 6 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$732 / per month

Homeownership Rate

Homeownership
Owners 60.10
Renters 39.90
Vacant 11.13

Housing Market Details

 

Age of Homes

AGE OF Escanaba HOMES
2000 or Newer 3.9
1970 - 1999 18.0
1940 - 1969 32.6
1939 or Older 45.5

Types of Homes

TYPE OF Escanaba HOMES
Single-Family 64.8
Townhomes 2.5
Small Apt. Buildings 14.5
Apt. Complexes 13.4
Mobile Homes 4.9
Other 0.0

Home Size

SIZE OF Escanaba HOMES
No Bedroom 1.92
1 Bedroom 14.94
2 Bedrooms 32.69
3 Bedrooms 36.47
4 Bedrooms 11.41
5 or more bedrooms 2.58