Hastings, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Hastings, 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

Hastings Housing Market Information

With 7,284 people, 3,042 houses or apartments, and a median cost of homes of $106,503, house prices in Hastings are solidly below the national average.

Single-family detached homes are the single most common housing type in Hastings, accounting for 68.98% of the city's housing units. Other types of housing that are prevalent in Hastings include duplexes, homes converted to apartments or other small apartment buildings ( 13.40%), large apartment complexes or high rise apartments ( 11.99%), and a few row houses and other attached homes ( 3.58%).

The most prevalent building size and type in Hastings are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 64.03% owning and 35.97% renting.

There is a lot of housing in Hastings 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 Hastings built before 1939 ( 30.60%). A lesser amount of the housing stock also hails from between 1940-1969 ( 22.92%). There's also some housing in Hastings built between 2000 and later ( 15.51%).

Hastings Home Appreciation Rates

Real estate appreciation rates in Hastings's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.68% during the period.

Appreciation rates are so strong in Hastings that despite a nationwide downturn in the housing market, Hastings real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Hastings appreciation rates continue to be some of the highest in America, at 6.33%, which is higher than appreciation rates in 76.71% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Hastings. Hastings appreciation rates in the latest quarter were at 3.68%, which equates to an annual appreciation rate of 15.57%.

Importantly, this makes Hastings one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Michigan, our data show that Hastings's latest annual appreciation rate is higher than 60% of the other cities and towns in Michigan.

Average Home Values

 

Median Home Value:
$106,503

Hastings, MI HOME PRICES

Value Range
> $1,164,000 0.3
$873,001 - $1,164,000 0.1
$582,001 - $873,000 1.5
$466,001 - $582,000 0.7
$349,001 - $466,000 1.9
$233,001 - $349,000 6.4
$117,001 - $233,000 37.3
$58,001 - $117,000 34.9
$0 - $58,000 17.0

Low for MI
Low for Nation

Value Relative to Nation Value Relative to State
73.3681003164186 70.5128205128205

Number Of Homes And Apartments:
3,042

Hastings 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
6.16% 0.35% 5 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$987 / per month

Homeownership Rate

Homeownership
Owners 64.03
Renters 35.97
Vacant 8.37

Housing Market Details

 

Age of Homes

AGE OF Hastings HOMES
2000 or Newer 15.5
1970 - 1999 31.0
1940 - 1969 22.9
1939 or Older 30.6

Types of Homes

TYPE OF Hastings HOMES
Single-Family 69.0
Townhomes 3.6
Small Apt. Buildings 13.4
Apt. Complexes 12.0
Mobile Homes 2.0
Other 0.0

Home Size

SIZE OF Hastings HOMES
No Bedroom 4.07
1 Bedroom 11.60
2 Bedrooms 26.81
3 Bedrooms 40.27
4 Bedrooms 12.47
5 or more bedrooms 4.79

Popular Neighborhoods in Hastings

Zip Codes in Hastings, MI