Hillsdale, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Hillsdale, MI Real Estate Data


Hillsdale Housing Market Information

With a population of 8,163, 2,906 total housing units (homes and apartments), and a median house value of $97,386, house prices in Hillsdale 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 Hillsdale, accounting for 57.17% of the city's housing units. Other types of housing that are prevalent in Hillsdale include large apartment complexes or high rise apartments ( 25.81%), duplexes, homes converted to apartments or other small apartment buildings ( 13.51%), and a few mobile homes or trailers ( 2.07%).

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

The housing in Hillsdale was primarily built before 1939 ( 42.37%), making the housing stock in Hillsdale some of the oldest overall in America, although there is a range of ages of homes in Hillsdale. The next most important housing age is between 1940-1969 ( 27.79%), followed by between 1970-1999 ( 25.69%). There's also some housing in Hillsdale built between 2000 and later ( 4.15%).

Vacant housing appears to be an issue in Hillsdale. Fully 11.35% of the housing stock is classified as vacant. Left unchecked, vacant Hillsdale homes and apartments can be a drag on the real estate market, holding Hillsdale 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.

Hillsdale Home Appreciation Rates

Hillsdale's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Hillsdale during the period has been just -1.28%, which is lower than 80% of US communities.

Over the last year, Hillsdale appreciation rates have trailed the rest of the nation. In the last twelve months, Hillsdale's appreciation rate has been 3.62%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Hillsdale were at 1.43%, which equates to an annual appreciation rate of 5.84%.

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

Average Home Values

 

Median Home Value:
$97,386

Hillsdale, MI HOME PRICES

Value Range
> $1,141,000 0.4
$856,001 - $1,141,000 0.6
$571,001 - $856,000 0.1
$457,001 - $571,000 0.1
$343,001 - $457,000 2.6
$228,001 - $343,000 4.3
$114,001 - $228,000 25.2
$57,001 - $114,000 49.4
$0 - $57,000 17.4

Low for MI
Very Low for Nation

Value Relative to Nation Value Relative to State
80.4649528605727 80.1282051282051

Number Of Homes And Apartments:
2,906

Rent & Ownership

 

Average Market Rent:
$866 / per month

Homeownership Rate

Homeownership
Owners 43.18
Renters 56.82
Vacant 11.35

Housing Market Details

 

Age of Homes

AGE OF Hillsdale HOMES
2000 or Newer 4.1
1970 - 1999 25.7
1940 - 1969 27.8
1939 or Older 42.4

Types of Homes

TYPE OF Hillsdale HOMES
Single-Family 57.2
Townhomes 1.4
Small Apt. Buildings 13.5
Apt. Complexes 25.8
Mobile Homes 2.1
Other 0.0

Home Size

SIZE OF Hillsdale HOMES
No Bedroom 1.59
1 Bedroom 20.13
2 Bedrooms 28.37
3 Bedrooms 30.93
4 Bedrooms 13.79
5 or more bedrooms 5.19

Hillsdale Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
-2.53% -0.15% 3 1
* 10 is highest

Popular Neighborhoods in Hillsdale

Zip Codes in Hillsdale, MI