Essexville, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Essexville Neighborhoods Since 2000




Essexville, 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

Essexville Housing Market Information

With a population of 3,396, 1,403 total housing units (homes and apartments), and a median house value of $92,122, house prices in Essexville 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 Essexville, accounting for 97.64% of the city's housing units. Other types of housing that are prevalent in Essexville include duplexes, homes converted to apartments or other small apartment buildings ( 1.14%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Essexville. Owner-occupied housing accounts for 89.68% of Essexville's homes, and 75.15% have either three or four bedrooms, which is average sized relative to America.

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. Essexville's housing was primarily built during this period, from the '40s through the '60s. A full 69.02% of the city's housing hails from this era. Other housing ages represented in Essexville include homes built before 1939 ( 20.07%) and housing constructed between 1970-1999 ( 8.96%). There's also some housing in Essexville built between 2000 and later ( 1.95%).

Essexville Home Appreciation Rates

Homes have actually lost value in Essexville over the last then years, as home values have seen a decline of 25.58% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Essexville home appreciation rates at -1.22%, which equates to an annual appreciation rate of -4.80%.

Over the last year, Essexville appreciation rates have trailed the rest of the nation. In the last twelve months, Essexville's appreciation rate has been -0.45%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Essexville were at -1.22%, which equates to an annual appreciation rate of -4.80%.

Notably, Essexville's appreciation rate in the latest quarter is one of the lowest in America.

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

Average Home Values

 

Median Home Value:
$92,122

Essexville, MI HOME PRICES

Value Range
> $1,016,000 0.0
$762,001 - $1,016,000 0.0
$508,001 - $762,000 0.0
$406,001 - $508,000 0.0
$305,001 - $406,000 0.0
$203,001 - $305,000 5.0
$101,001 - $203,000 34.1
$51,001 - $101,000 51.9
$0 - $51,000 9.0

Very Low for MI
Very Low for Nation

Value Relative to Nation Value Relative to State
82.6438532755186 83.1730769230769

Number Of Homes And Apartments:
1,403

Essexville 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
-14.89% -0.93% 1 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,040 / per month

Homeownership Rate

Homeownership
Owners 89.68
Renters 10.32
Vacant 5.52

Housing Market Details

 

Age of Homes

AGE OF Essexville HOMES
2000 or Newer 2.0
1970 - 1999 9.0
1940 - 1969 69.0
1939 or Older 20.1

Types of Homes

TYPE OF Essexville HOMES
Single-Family 97.6
Townhomes 0.5
Small Apt. Buildings 1.1
Apt. Complexes 0.7
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Essexville HOMES
No Bedroom 0.00
1 Bedroom 1.82
2 Bedrooms 21.89
3 Bedrooms 53.94
4 Bedrooms 21.21
5 or more bedrooms 1.14

Zip Codes in Essexville, MI