Gwinn, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Gwinn, 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

Gwinn Housing Market Information

With a population of 1,938, 837 total housing units (homes and apartments), and a median house value of $110,317, house prices in Gwinn are solidly below the national average.

Single-family detached homes are the single most common housing type in Gwinn, accounting for 65.53% of the town's housing units. Other types of housing that are prevalent in Gwinn include mobile homes or trailers ( 21.23%), duplexes, homes converted to apartments or other small apartment buildings ( 6.33%), and a few large apartment complexes or high rise apartments ( 4.28%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Gwinn. Owner-occupied housing accounts for 78.26% of Gwinn's homes, and 48.49% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Gwinn 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 Gwinn built between 1940-1969 ( 26.39%). A lesser amount of the housing stock also hails from before 1939 ( 21.32%). There's also some housing in Gwinn built between 2000 and later ( 3.70%).

Vacant housing appears to be an issue in Gwinn. Fully 18.50% of the housing stock is classified as vacant. Left unchecked, vacant Gwinn homes and apartments can be a drag on the real estate market, holding Gwinn 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.

Gwinn Home Appreciation Rates

Appreciation rates for homes in Gwinn have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 5.91%, which ranks in the top 40% nationwide. This equates to an annual average Gwinn house appreciation rate of 0.58%.

Over the last year, Gwinn appreciation rates have trailed the rest of the nation. In the last twelve months, Gwinn's appreciation rate has been 2.66%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Gwinn were at 0.00%, which equates to an annual appreciation rate of 0.00%.

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

Average Home Values

 

Median Home Value:
$110,317

Gwinn, MI HOME PRICES

Value Range
> $1,046,000 2.0
$784,001 - $1,046,000 0.0
$523,001 - $784,000 0.0
$419,001 - $523,000 0.0
$314,001 - $419,000 0.1
$209,001 - $314,000 13.0
$105,001 - $209,000 41.4
$52,001 - $105,000 31.0
$0 - $52,000 12.5

Low for MI
Low for Nation

Value Relative to Nation Value Relative to State
71.2410641040666 65.7051282051282

Number Of Homes And Apartments:
837

Gwinn 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
37.26% 1.85% 10 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$535 / per month

Homeownership Rate

Homeownership
Owners 78.26
Renters 21.74
Vacant 18.50

Housing Market Details

 

Age of Homes

AGE OF Gwinn HOMES
2000 or Newer 3.7
1970 - 1999 48.6
1940 - 1969 26.4
1939 or Older 21.3

Types of Homes

TYPE OF Gwinn HOMES
Single-Family 65.5
Townhomes 2.6
Small Apt. Buildings 6.3
Apt. Complexes 4.3
Mobile Homes 21.2
Other 0.0

Home Size

SIZE OF Gwinn HOMES
No Bedroom 1.07
1 Bedroom 11.10
2 Bedrooms 32.42
3 Bedrooms 35.05
4 Bedrooms 13.44
5 or more bedrooms 6.91

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Zip Codes in Gwinn, MI