Fife Lake, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Fife Lake Neighborhoods Since 2000




Fife Lake, 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

Fife Lake Housing Market Information

With a population of 456, 158 total housing units (homes and apartments), and a median house value of $211,221, Fife Lake real estate is some of the most expensive in Michigan, although Fife Lake home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Fife Lake, accounting for 80.08% of the village's housing units. Other types of housing that are prevalent in Fife Lake include mobile homes or trailers ( 12.50%), duplexes, homes converted to apartments or other small apartment buildings ( 4.69%), and a few large apartment complexes or high rise apartments ( 1.56%).

Dwellings in Fife Lake tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 55.47% of the homes in Fife Lake have two or fewer bedrooms.

There is a lot of housing in Fife Lake 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 Fife Lake built before 1939 ( 31.64%). A lesser amount of the housing stock also hails from between 1940-1969 ( 24.61%). There's also some housing in Fife Lake built between 2000 and later ( 9.38%).

A decent proportion of the Fife Lake housing stock is seasonally occupied. That is, homes and condos in Fife Lake are occupied by people for a portion of the year - mainly for vacation purposes - and then locked up and left unoccupied for the remainder of the year as owners return to their primary residences. This characteristic of the Fife Lake housing market speaks to its popularity as a vacation location of choice.

Fife Lake Home Appreciation Rates

Real estate appreciation rates in Fife Lake's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.26% during the period.

NeighborhoodScout's data show that during the latest twelve months, Fife Lake's appreciation rate, at 4.30%, has been at or slightly above the national average. In the latest quarter, Fife Lake's appreciation rate has been 0.00%, which annualizes to a rate of 0.00%.

Relative to Michigan, our data show that Fife Lake's latest annual appreciation rate is lower than 60% of the other cities and towns in Michigan.

Average Home Values

 

Median Home Value:
$211,221

Fife Lake, MI HOME PRICES

Value Range
> $1,152,000 0.5
$864,001 - $1,152,000 0.4
$576,001 - $864,000 2.0
$461,001 - $576,000 2.8
$346,001 - $461,000 8.2
$230,001 - $346,000 18.7
$115,001 - $230,000 45.0
$57,001 - $115,000 17.5
$0 - $57,000 5.0

Very High for MI
High for Nation

Value Relative to Nation Value Relative to State
29.6261572717684 13.7820512820513

Number Of Homes And Apartments:
158

Fife Lake 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
21.00% 1.11% 8 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,271 / per month

Homeownership Rate

Homeownership
Owners 72.78
Renters 27.22
Vacant 38.28

Housing Market Details

 

Age of Homes

AGE OF Fife Lake HOMES
2000 or Newer 9.4
1970 - 1999 34.4
1940 - 1969 24.6
1939 or Older 31.6

Types of Homes

TYPE OF Fife Lake HOMES
Single-Family 80.1
Townhomes 1.2
Small Apt. Buildings 4.7
Apt. Complexes 1.6
Mobile Homes 12.5
Other 0.0

Home Size

SIZE OF Fife Lake HOMES
No Bedroom 1.17
1 Bedroom 9.38
2 Bedrooms 44.92
3 Bedrooms 33.59
4 Bedrooms 8.59
5 or more bedrooms 2.34

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Zip Codes in Fife Lake, MI