Fennville, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Fennville, MI Real Estate Data


Fennville Housing Market Information

With 1,400 people, 584 houses or apartments, and a median cost of homes of $144,322, Fennville real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Fennville, accounting for 49.47% of the city's housing units. Other types of housing that are prevalent in Fennville include mobile homes or trailers ( 25.04%), large apartment complexes or high rise apartments ( 15.63%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 9.56%).

The most prevalent building size and type in Fennville are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 54.97% owning and 45.03% renting.

There is a lot of housing in Fennville 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 Fennville built before 1939 ( 19.58%). A lesser amount of the housing stock also hails from between 1940-1969 ( 17.15%). There's also some housing in Fennville built between 2000 and later ( 15.93%).

Vacant housing appears to be an issue in Fennville. Fully 11.38% of the housing stock is classified as vacant. Left unchecked, vacant Fennville homes and apartments can be a drag on the real estate market, holding Fennville 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.

Fennville Home Appreciation Rates

Fennville's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Fennville during the period has been just -0.98%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Fennville's appreciation rate, at 4.58%, has been at or slightly above the national average. In the latest quarter, Fennville's appreciation rate has been 1.43%, which annualizes to a rate of 5.84%.

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

Average Home Values

 

Median Home Value:
$144,322

Fennville, MI HOME PRICES

Value Range
> $1,143,000 0.0
$857,001 - $1,143,000 0.0
$571,001 - $857,000 1.1
$457,001 - $571,000 1.1
$343,001 - $457,000 5.7
$228,001 - $343,000 14.6
$114,001 - $228,000 33.3
$57,001 - $114,000 25.2
$0 - $57,000 18.9

Average for MI
Average for Nation

Value Relative to Nation Value Relative to State
53.4988581132517 40.5448717948718

Number Of Homes And Apartments:
584

Rent & Ownership

 

Average Market Rent:
$743 / per month

Homeownership Rate

Homeownership
Owners 54.97
Renters 45.03
Vacant 11.38

Housing Market Details

 

Age of Homes

AGE OF Fennville HOMES
2000 or Newer 15.9
1970 - 1999 47.3
1940 - 1969 17.1
1939 or Older 19.6

Types of Homes

TYPE OF Fennville HOMES
Single-Family 49.5
Townhomes 0.3
Small Apt. Buildings 9.6
Apt. Complexes 15.6
Mobile Homes 25.0
Other 0.0

Home Size

SIZE OF Fennville HOMES
No Bedroom 1.06
1 Bedroom 8.35
2 Bedrooms 31.41
3 Bedrooms 44.16
4 Bedrooms 15.02
5 or more bedrooms 0.00

Fennville 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
6.99% 0.40% 5 1
* 10 is highest

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Zip Codes in Fennville, MI