Howell, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Howell, MI Real Estate Data


Howell Housing Market Information

With 9,521 people, 4,085 houses or apartments, and a median cost of homes of $167,739, Howell real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Howell, accounting for 44.82% of the city's housing units. Other types of housing that are prevalent in Howell include large apartment complexes or high rise apartments ( 36.87%), mobile homes or trailers ( 6.60%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.94%).

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

There is a lot of housing in Howell 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 Howell built before 1939 ( 25.05%). A lesser amount of the housing stock also hails from between 1940-1969 ( 18.05%). There's also some housing in Howell built between 2000 and later ( 11.71%).

Vacant housing appears to be an issue in Howell. Fully 10.08% of the housing stock is classified as vacant. Left unchecked, vacant Howell homes and apartments can be a drag on the real estate market, holding Howell 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.

Howell Home Appreciation Rates

Howell's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Howell during the period has been just -1.08%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Howell's appreciation rate, at 4.29%, has been at or slightly above the national average. In the latest quarter, Howell's appreciation rate has been 0.12%, which annualizes to a rate of 0.47%.

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

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Howell differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Howell - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Howell real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$167,739

Howell, MI HOME PRICES

Value Range
> $1,216,000 0.0
$912,001 - $1,216,000 0.0
$608,001 - $912,000 0.9
$487,001 - $608,000 0.0
$365,001 - $487,000 1.6
$243,001 - $365,000 17.3
$122,001 - $243,000 43.5
$61,001 - $122,000 22.7
$0 - $61,000 14.1

High for MI
Average for Nation

Value Relative to Nation Value Relative to State
42.2653228641744 26.4423076923077

Number Of Homes And Apartments:
4,085

Rent & Ownership

 

Average Market Rent:
$916 / per month

Homeownership Rate

Homeownership
Owners 48.72
Renters 51.28
Vacant 10.08

Housing Market Details

 

Age of Homes

AGE OF Howell HOMES
2000 or Newer 11.7
1970 - 1999 45.2
1940 - 1969 18.0
1939 or Older 25.0

Types of Homes

TYPE OF Howell HOMES
Single-Family 44.8
Townhomes 5.8
Small Apt. Buildings 5.9
Apt. Complexes 36.9
Mobile Homes 6.6
Other 0.0

Home Size

SIZE OF Howell HOMES
No Bedroom 0.66
1 Bedroom 20.60
2 Bedrooms 35.51
3 Bedrooms 30.29
4 Bedrooms 10.41
5 or more bedrooms 2.53

Howell 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
-3.25% -0.19% 3 1
* 10 is highest