Harrison Township, 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

Harrison Township, MI Housing Market Trends

With 27,059 people, 2,209 houses or apartments, and a median cost of homes of $86,191, house prices in Harrison Township 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 Harrison Township, accounting for 55.92% of the town's housing units. Other types of housing that are prevalent in Harrison Township include large apartment complexes or high rise apartments ( 25.02%), row houses and other attached homes ( 10.49%), and a few mobile homes or trailers ( 5.08%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Harrison Township. Owner-occupied housing accounts for 68.49% of Harrison Township's homes, and 50.48% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Harrison Township 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 Harrison Township built between 1940-1969 ( 26.93%). A lesser amount of the housing stock also hails from between 2000 and later ( 11.53%). There's also some housing in Harrison Township built before 1939 ( 3.97%).

Harrison Township Home Appreciation Rates

In the last 10 years, Harrison Township has experienced some of the highest home appreciation rates of any community in the nation. Harrison Township real estate appreciated 73.88% over the last ten years, which is an average annual home appreciation rate of 5.69%, putting Harrison Township in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Harrison Township definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Harrison Township that despite a nationwide downturn in the housing market, Harrison Township real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Harrison Township appreciation rates continue to be some of the highest in America, at 10.75%, which is higher than appreciation rates in 73.95% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Harrison Township. Harrison Township appreciation rates in the latest quarter were at 2.66%, which equates to an annual appreciation rate of 11.07%.

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

One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Harrison Township differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Harrison Township - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Harrison Township real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$86,191

Harrison Township, MI HOME PRICES

> $1,306,000
0.7%
0.7%
$979,001 - $1,306,000
0.0%
0.0%
$653,001 - $979,000
1.0%
1.0%
$522,001 - $653,000
4.6%
4.6%
$392,001 - $522,000
1.4%
1.4%
$261,001 - $392,000
1.0%
1.0%
$131,001 - $261,000
26.6%
26.6%
$65,001 - $131,000
22.5%
22.5%
$0 - $65,000
42.2%
42.2%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very Low for Nation

Very Low for MI

Value Relative To Nation

Number Of Homes And Apartments:
2,209

Harrison Township 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
157.00% 4.49%
10
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$929 / per month

Homeownership Rate

Owners
68.5%
68.5%
Renters
31.5%
31.5%
Vacant
8.9%
8.9%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
11.5%
11.5%
1970 - 1999
57.6%
57.6%
1940 - 1969
26.9%
26.9%
1939 or Older
4.0%
4.0%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
55.9%
55.9%
Townhomes
10.5%
10.5%
Small Apt. Buildings
3.0%
3.0%
Apt. Complexes
25.0%
25.0%
Mobile Homes
5.1%
5.1%
Other
0.5%
0.5%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
6.6%
6.6%
1 Bedroom
10.4%
10.4%
2 Bedrooms
30.5%
30.5%
3 Bedrooms
38.9%
38.9%
4 Bedrooms
11.5%
11.5%
5 or more bedrooms
2.0%
2.0%
0.0% 100.0%
% OF HOMES