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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Hemlock, 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 Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Hemlock, MI Housing Market Trends

With a population of 1,408, 513 total housing units (homes and apartments), and a median house value of $227,170, house prices in Hemlock are solidly below the national average.

Single-family detached homes are the single most common housing type in Hemlock, accounting for 81.29% of the town's housing units. Other types of housing that are prevalent in Hemlock include large apartment complexes or high rise apartments ( 13.45%), duplexes, homes converted to apartments or other small apartment buildings ( 2.73%), and a few row houses and other attached homes ( 2.53%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Hemlock. Owner-occupied housing accounts for 77.78% of Hemlock's homes, and 73.88% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Hemlock 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 Hemlock built between 1940-1969 ( 31.58%). A lesser amount of the housing stock also hails from between 2000 and later ( 20.08%). There's also some housing in Hemlock built before 1939 ( 13.84%).

Hemlock Home Appreciation Rates

Hemlock's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Hemlock during the period has been just 4.73%, which is lower than 80% of US communities.

Appreciation rates are so strong in Hemlock that despite a nationwide downturn in the housing market, Hemlock real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Hemlock appreciation rates continue to be some of the highest in America, at 7.20%, which is higher than appreciation rates in 75.85% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Hemlock. Hemlock appreciation rates in the latest quarter were at -2.44%, which equates to an annual appreciation rate of -9.42%.

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

Relative to Michigan, our data show that Hemlock's latest annual appreciation rate is lower than 50% of the other cities and towns in Michigan.

Average Home Values

Median Home Value

$227,170

Hemlock, MI Home Prices
> $1,239,000
$930,001 - $1,239,000
$620,001 - $930,000
$496,001 - $620,000
$372,001 - $496,000
$248,001 - $372,000
$124,001 - $248,000
$62,001 - $124,000
$0 - $62,000
0.0%
0.0%
0.0%
0.0%
1.5%
1.5%
4.4%
4.4%
6.0%
6.0%
31.8%
31.8%
43.6%
43.6%
10.2%
10.2%
2.6%
2.6%
0% 100.0%
% of Homes
Average

for Michigan

Average

for nation

Number of Homes And Apartments:

513

Hemlock Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,220 / per month

Homeownership Rate

Owners
Renters
77.8%
77.8%
22.2%
22.2%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
0.0%
0.0%
100.0%
100.0%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
20.1%
20.1%
34.5%
34.5%
31.6%
31.6%
13.8%
13.8%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
81.3%
81.3%
2.5%
2.5%
2.7%
2.7%
13.5%
13.5%
0.0%
0.0%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.0%
0.0%
4.1%
4.1%
18.9%
18.9%
60.6%
60.6%
13.3%
13.3%
3.1%
3.1%
0% 100.0%
% of Homes

Popular Neighborhoods in Hemlock

Zip Codes in Hemlock, MI