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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With 12,836 people, 1,577 houses or apartments, and a median cost of homes of $88,274, house prices in Fort Gratiot 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 Fort Gratiot, accounting for 79.28% of the town's housing units. Other types of housing that are prevalent in Fort Gratiot include mobile homes or trailers ( 10.94%), large apartment complexes or high rise apartments ( 7.36%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.20%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Fort Gratiot. Owner-occupied housing accounts for 80.59% of Fort Gratiot's homes, and 72.44% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Fort Gratiot 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 Fort Gratiot built between 1940-1969 ( 31.17%). A lesser amount of the housing stock also hails from between 2000 and later ( 15.27%). There's also some housing in Fort Gratiot built before 1939 ( 6.13%).
Vacant housing appears to be an issue in Fort Gratiot. Fully 12.93% of the housing stock is classified as vacant. Left unchecked, vacant Fort Gratiot homes and apartments can be a drag on the real estate market, holding Fort Gratiot 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.
In the last 10 years, Fort Gratiot has experienced some of the highest home appreciation rates of any community in the nation. Fort Gratiot real estate appreciated 19.12% over the last ten years, which is an average annual home appreciation rate of 1.77%, putting Fort Gratiot in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Fort Gratiot definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Over the last year, Fort Gratiot appreciation rates have trailed the rest of the nation. In the last twelve months, Fort Gratiot's appreciation rate has been 0.46%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Fort Gratiot were at -4.98%, which equates to an annual appreciation rate of -18.48%.
Notably, Fort Gratiot's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Michigan, our data show that Fort Gratiot's latest annual appreciation rate is lower than 90% of the other cities and towns in Michigan.
|$806,001 - $1,075,000||0.0|
|$537,001 - $806,000||0.3|
|$430,001 - $537,000||1.2|
|$322,001 - $430,000||0.8|
|$215,001 - $322,000||6.5|
|$108,001 - $215,000||28.9|
|$54,001 - $108,000||30.5|
|$0 - $54,000||31.8|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Fort Gratiot HOMES|
|2000 or Newer||15.3|
|1970 - 1999||47.4|
|1940 - 1969||31.2|
|1939 or Older||6.1|
|TYPE OF Fort Gratiot HOMES|
|Small Apt. Buildings||2.2|
|SIZE OF Fort Gratiot HOMES|
|5 or more bedrooms||3.99|