Houghton Lake, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Houghton Lake, 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

Houghton Lake Housing Market Information

With a population of 3,343, 1,591 total housing units (homes and apartments), and a median house value of $98,627, house prices in Houghton Lake are solidly below the national average.

Single-family detached homes are the single most common housing type in Houghton Lake, accounting for 86.91% of the town's housing units. Other types of housing that are prevalent in Houghton Lake include mobile homes or trailers ( 6.88%), large apartment complexes or high rise apartments ( 3.29%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.75%).

Dwellings in Houghton Lake tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 56.18% of the homes in Houghton Lake have two or fewer bedrooms.

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. Houghton Lake's housing was primarily built during this period, from the '40s through the '60s. A full 45.97% of the town's housing hails from this era. Other housing ages represented in Houghton Lake include homes built between 1970-1999 ( 39.61%) and housing constructed before 1939 ( 9.62%). There's also some housing in Houghton Lake built between 2000 and later ( 4.79%).

A decent proportion of the Houghton Lake housing stock is seasonally occupied. That is, homes and condos in Houghton Lake are occupied by people for a portion of the year - mainly for vacation purposes - and then locked up and left unoccupied for the remainder of the year as owners return to their primary residences. This characteristic of the Houghton Lake housing market speaks to its popularity as a vacation location of choice.

Houghton Lake Home Appreciation Rates

Houghton Lake's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Houghton Lake during the period has been just -1.72%, which is lower than 80% of US communities.

Over the last year, Houghton Lake appreciation rates have trailed the rest of the nation. In the last twelve months, Houghton Lake's appreciation rate has been 2.78%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Houghton Lake were at 0.00%, which equates to an annual appreciation rate of 0.00%.

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

Average Home Values

 

Median Home Value:
$98,627

Houghton Lake, MI HOME PRICES

Value Range
> $1,126,000 0.2
$845,001 - $1,126,000 0.0
$563,001 - $845,000 1.1
$450,001 - $563,000 0.8
$337,001 - $450,000 6.4
$225,001 - $337,000 5.8
$112,001 - $225,000 28.3
$56,001 - $112,000 36.7
$0 - $56,000 20.8

Low for MI
Low for Nation

Value Relative to Nation Value Relative to State
78.5128325325208 76.4423076923077

Number Of Homes And Apartments:
1,591

Houghton Lake 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
2.90% 0.17% 4 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$701 / per month

Homeownership Rate

Homeownership
Owners 71.65
Renters 28.35
Vacant 51.11

Housing Market Details

 

Age of Homes

AGE OF Houghton Lake HOMES
2000 or Newer 4.8
1970 - 1999 39.6
1940 - 1969 46.0
1939 or Older 9.6

Types of Homes

TYPE OF Houghton Lake HOMES
Single-Family 86.9
Townhomes 1.2
Small Apt. Buildings 1.8
Apt. Complexes 3.3
Mobile Homes 6.9
Other 0.0

Home Size

SIZE OF Houghton Lake HOMES
No Bedroom 0.65
1 Bedroom 10.69
2 Bedrooms 44.84
3 Bedrooms 32.79
4 Bedrooms 8.45
5 or more bedrooms 2.58

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Zip Codes in Houghton Lake, MI