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 about Scout's Real Estate Data
With a population of 1,105, 498 total housing units (homes and apartments), and a median house value of $317,209, Grass Lake real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Grass Lake, accounting for 80.31% 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 ( 13.32%), row houses and other attached homes ( 3.67%), and a few large apartment complexes or high rise apartments ( 2.32%).
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 78.92% of Grass Lake's homes, and 52.32% have either three or four bedrooms, which is average sized relative to America.
The housing in Grass Lake was primarily built before 1939 ( 41.89%), 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 1970-1999 ( 24.52%), followed by between 1940-1969 ( 20.27%). There's also some housing in Grass Lake built between 2000 and later ( 13.32%).
Appreciation rates for homes in Grass Lake have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 86.38%, which ranks in the top 50% nationwide. This equates to an annual average Grass Lake house appreciation rate of 6.42%.
Over the last year, Grass Lake appreciation rates have trailed the rest of the nation. In the last twelve months, Grass Lake's appreciation rate has been 4.22%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Grass Lake were at 2.42%, which equates to an annual appreciation rate of 10.02%.
Importantly, this makes Grass Lake one of the highest appreciating communities in the nation for the latest quarter, and may signal the village's near-future real estate investment strength.
Relative to Michigan, our data show that Grass Lake's latest annual appreciation rate is lower than 90% of the other cities and towns in Michigan.
$317,209
for Michigan
for nation
498
$1,680 / per month