Harrison, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Harrison Neighborhoods Since 2000




Harrison, 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

Harrison Housing Market Information

With 2,107 people, 895 houses or apartments, and a median cost of homes of $80,208, house prices in Harrison 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, accounting for 66.43% of the city's housing units. Other types of housing that are prevalent in Harrison include large apartment complexes or high rise apartments ( 21.96%), mobile homes or trailers ( 5.45%), and a few row houses and other attached homes ( 4.65%).

People in Harrison primarily live in small (one, two or no bedroom) single-family detached homes. Harrison has a mixture of owner-occupied and renter-occupied housing.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Harrison's housing was primarily built during this period, from the '40s through the '60s. A full 39.02% of the city's housing hails from this era. Other housing ages represented in Harrison include homes built between 1970-1999 ( 36.70%) and housing constructed between 2000 and later ( 19.23%). There's also some housing in Harrison built before 1939 ( 5.05%).

Vacant housing appears to be an issue in Harrison. Fully 28.29% of the housing stock is classified as vacant. Left unchecked, vacant Harrison homes and apartments can be a drag on the real estate market, holding Harrison 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.

Harrison Home Appreciation Rates

Harrison's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Harrison during the period has been just -2.05%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Harrison's appreciation rate, at 5.12%, has been at or slightly above the national average. In the latest quarter, Harrison's appreciation rate has been 0.00%, which annualizes to a rate of 0.00%.

Relative to Michigan, our data show that Harrison's latest annual appreciation rate is lower than 50% 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 city. Individual neighborhoods within Harrison differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Harrison - 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 real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$80,208

Harrison, MI HOME PRICES

Value Range
> $1,099,000 0.0
$824,001 - $1,099,000 0.0
$549,001 - $824,000 0.0
$440,001 - $549,000 0.0
$330,001 - $440,000 1.7
$219,001 - $330,000 6.1
$110,001 - $219,000 19.0
$55,001 - $110,000 42.2
$0 - $55,000 31.0

Very Low for MI
Very Low for Nation

Value Relative to Nation Value Relative to State
90.3433727879995 91.025641025641

Number Of Homes And Apartments:
895

Harrison 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
-8.01% -0.48% 2 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$605 / per month

Homeownership Rate

Homeownership
Owners 55.13
Renters 44.87
Vacant 28.29

Housing Market Details

 

Age of Homes

AGE OF Harrison HOMES
2000 or Newer 19.2
1970 - 1999 36.7
1940 - 1969 39.0
1939 or Older 5.0

Types of Homes

TYPE OF Harrison HOMES
Single-Family 66.4
Townhomes 4.6
Small Apt. Buildings 1.5
Apt. Complexes 22.0
Mobile Homes 5.4
Other 0.0

Home Size

SIZE OF Harrison HOMES
No Bedroom 0.40
1 Bedroom 17.55
2 Bedrooms 36.30
3 Bedrooms 35.42
4 Bedrooms 9.21
5 or more bedrooms 1.12