Freeland, MI Real Estate Market

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 Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Freeland, MI Housing Market Trends

With a population of 7,028, 2,154 total housing units (homes and apartments), and a median house value of $201,461, Freeland 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 Freeland, accounting for 75.55% of the town's housing units. Other types of housing that are prevalent in Freeland include row houses and other attached homes ( 10.50%), mobile homes or trailers ( 5.66%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.16%).

The most prevalent building size and type in Freeland are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 60.37% owning and 39.63% renting.

There is a lot of housing in Freeland 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 Freeland built between 2000 and later ( 27.03%). A lesser amount of the housing stock also hails from between 1940-1969 ( 26.21%). There's also some housing in Freeland built before 1939 ( 4.75%).

Freeland Home Appreciation Rates

Real estate appreciation rates in Freeland's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 3.03% during the period.

NeighborhoodScout's data show that during the latest twelve months, Freeland's appreciation rate, at 8.76%, has been at or slightly above the national average. In the latest quarter, Freeland's appreciation rate has been 3.35%, which annualizes to a rate of 14.11%.

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

Average Home Values

 

Median Home Value:
$201,461

Freeland, MI HOME PRICES

> $1,197,000
0.8%
0.8%
$898,001 - $1,197,000
0.0%
0.0%
$598,001 - $898,000
1.0%
1.0%
$479,001 - $598,000
4.0%
4.0%
$359,001 - $479,000
6.6%
6.6%
$239,001 - $359,000
25.5%
25.5%
$119,001 - $239,000
38.1%
38.1%
$60,001 - $119,000
14.0%
14.0%
$0 - $60,000
10.1%
10.1%
0.0% 100.0%
% OF HOMES
Value Relative To State

Average for Nation

High for MI

Value Relative To Nation

Number Of Homes And Apartments:
2,154

Freeland Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
24.09% 1.01%
2
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,478 / per month

Homeownership Rate

Owners
60.4%
60.4%
Renters
39.6%
39.6%
Vacant
2.5%
2.5%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
27.0%
27.0%
1970 - 1999
42.0%
42.0%
1940 - 1969
26.2%
26.2%
1939 or Older
4.8%
4.8%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
75.6%
75.6%
Townhomes
10.5%
10.5%
Small Apt. Buildings
4.2%
4.2%
Apt. Complexes
4.1%
4.1%
Mobile Homes
5.7%
5.7%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.0%
0.0%
1 Bedroom
1.7%
1.7%
2 Bedrooms
17.8%
17.8%
3 Bedrooms
58.1%
58.1%
4 Bedrooms
21.1%
21.1%
5 or more bedrooms
1.4%
1.4%
0.0% 100.0%
% OF HOMES

Popular Neighborhoods in Freeland

Zip Codes in Freeland, MI