Hastings, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Hastings, MI Real Estate Data


Hastings Housing Market Information

With 7,284 people, 3,042 houses or apartments, and a median cost of homes of $102,568, 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

Hastings's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Hastings during the period has been just -1.20%, which is lower than 70% of US communities.

Over the last year, Hastings appreciation rates have trailed the rest of the nation. In the last twelve months, Hastings's appreciation rate has been 2.90%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Hastings were at -1.88%, which equates to an annual appreciation rate of -7.30%.

Notably, Hastings's appreciation rate in the latest quarter is one of the lowest in America.

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

Average Home Values

 

Median Home Value:
$102,568

Hastings, MI HOME PRICES

Value Range
> $1,121,000 0.0
$841,001 - $1,121,000 0.1
$561,001 - $841,000 1.5
$449,001 - $561,000 0.7
$337,001 - $449,000 1.9
$224,001 - $337,000 6.4
$112,001 - $224,000 37.3
$56,001 - $112,000 34.9
$0 - $56,000 17.0

Low for MI
Low for Nation

Value Relative to Nation Value Relative to State
75.7939763272003 72.7564102564102

Number Of Homes And Apartments:
3,042

Rent & Ownership

 

Average Market Rent:
$900 / 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

Hastings Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
2.08% 0.12% 4 1
* 10 is highest

Popular Neighborhoods in Hastings

Zip Codes in Hastings, MI