Grass Lake, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Grass 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

Grass Lake Housing Market Information

With a population of 1,166, 510 total housing units (homes and apartments), and a median house value of $220,924, Grass Lake real estate is some of the most expensive in Michigan, although Grass Lake home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Grass Lake, accounting for 79.20% of the village's housing units. Other types of housing that are prevalent in Grass Lake include duplexes, homes converted to apartments or other small apartment buildings ( 14.29%), large apartment complexes or high rise apartments ( 5.97%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Grass Lake. Owner-occupied housing accounts for 70.39% of Grass Lake's homes, and 63.83% have either three or four bedrooms, which is average sized relative to America.

The housing in Grass Lake was primarily built before 1939 ( 44.48%), making the housing stock in Grass Lake some of the oldest overall in America, although there is a range of ages of homes in Grass Lake. The next most important housing age is between 1940-1969 ( 22.42%), followed by between 1970-1999 ( 18.26%). There's also some housing in Grass Lake built between 2000 and later ( 14.83%).

Grass Lake Home Appreciation Rates

Grass Lake's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Grass Lake during the period has been just -0.87%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Grass Lake's appreciation rate, at 5.43%, has been at or slightly above the national average. In the latest quarter, Grass Lake's appreciation rate has been 0.82%, which annualizes to a rate of 3.31%.

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

Average Home Values

 

Median Home Value:
$220,924

Grass Lake, MI HOME PRICES

Value Range
> $1,208,000 1.2
$906,001 - $1,208,000 1.8
$604,001 - $906,000 0.0
$483,001 - $604,000 1.0
$362,001 - $483,000 7.1
$242,001 - $362,000 33.0
$121,001 - $242,000 38.4
$60,001 - $121,000 13.6
$0 - $60,000 4.0

Very High for MI
High for Nation

Value Relative to Nation Value Relative to State
27.5518574944334 11.5384615384615

Number Of Homes And Apartments:
510

Grass 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
0.64% 0.04% 4 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$936 / per month

Homeownership Rate

Homeownership
Owners 70.39
Renters 29.61
Vacant 7.78

Housing Market Details

 

Age of Homes

AGE OF Grass Lake HOMES
2000 or Newer 14.8
1970 - 1999 18.3
1940 - 1969 22.4
1939 or Older 44.5

Types of Homes

TYPE OF Grass Lake HOMES
Single-Family 79.2
Townhomes 0.5
Small Apt. Buildings 14.3
Apt. Complexes 6.0
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Grass Lake HOMES
No Bedroom 1.27
1 Bedroom 9.22
2 Bedrooms 22.06
3 Bedrooms 45.21
4 Bedrooms 18.63
5 or more bedrooms 3.62