Hemlock, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Hemlock Neighborhoods Since 2000




Hemlock, 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

Hemlock Housing Market Information

With 1,426 people, 608 houses or apartments, and a median cost of homes of $135,849, 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 80.79% of the town's housing units. Other types of housing that are prevalent in Hemlock include large apartment complexes or high rise apartments ( 12.80%), mobile homes or trailers ( 5.03%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.37%).

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 72.37% of Hemlock's homes, and 66.31% have either three or four bedrooms, which is average sized relative to America.

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. Hemlock's housing was primarily built during this period, from the '40s through the '60s. A full 40.09% of the town's housing hails from this era. Other housing ages represented in Hemlock include homes built between 1970-1999 ( 28.35%) and housing constructed before 1939 ( 21.19%). There's also some housing in Hemlock built between 2000 and later ( 10.37%).

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 -1.12%, which is lower than 70% of US communities.

Over the last year, Hemlock appreciation rates have trailed the rest of the nation. In the last twelve months, Hemlock's appreciation rate has been 1.99%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Hemlock were at -2.71%, which equates to an annual appreciation rate of -10.42%.

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 80% of the other cities and towns in Michigan.

Average Home Values

 

Median Home Value:
$135,849

Hemlock, MI HOME PRICES

Value Range
> $1,050,000 0.0
$787,001 - $1,050,000 0.0
$525,001 - $787,000 0.6
$420,001 - $525,000 3.1
$315,001 - $420,000 2.0
$210,001 - $315,000 15.2
$105,001 - $210,000 43.8
$53,001 - $105,000 25.9
$0 - $53,000 9.5

Average for MI
Average for Nation

Value Relative to Nation Value Relative to State
56.7561232860659 45.9935897435897

Number Of Homes And Apartments:
608

Hemlock 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
-1.81% -0.11% 3 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$862 / per month

Homeownership Rate

Homeownership
Owners 72.37
Renters 27.63
Vacant 7.32

Housing Market Details

 

Age of Homes

AGE OF Hemlock HOMES
2000 or Newer 10.4
1970 - 1999 28.4
1940 - 1969 40.1
1939 or Older 21.2

Types of Homes

TYPE OF Hemlock HOMES
Single-Family 80.8
Townhomes 0.0
Small Apt. Buildings 1.4
Apt. Complexes 12.8
Mobile Homes 5.0
Other 0.0

Home Size

SIZE OF Hemlock HOMES
No Bedroom 0.00
1 Bedroom 3.20
2 Bedrooms 28.20
3 Bedrooms 54.42
4 Bedrooms 11.89
5 or more bedrooms 2.29

Popular Neighborhoods in Hemlock

Zip Codes in Hemlock, MI