Howell, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Howell Neighborhoods Since 2000




Howell, 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

Howell Housing Market Information

With a population of 9,521, 4,085 total housing units (homes and apartments), and a median house value of $171,006, 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 -0.82%, which is lower than 70% of US communities.

Appreciation rates are so strong in Howell that despite a nationwide downturn in the housing market, Howell real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Howell appreciation rates continue to be some of the highest in America, at 6.89%, which is higher than appreciation rates in 80.61% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Howell. Howell appreciation rates in the latest quarter were at 1.86%, which equates to an annual appreciation rate of 7.66%.

Importantly, this makes Howell one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Michigan, our data show that Howell's latest annual appreciation rate is higher than 60% 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:
$171,006

Howell, MI HOME PRICES

Value Range
> $1,241,000 0.0
$931,001 - $1,241,000 0.0
$620,001 - $931,000 0.9
$497,001 - $620,000 0.0
$372,001 - $497,000 1.6
$248,001 - $372,000 17.3
$124,001 - $248,000 43.5
$62,001 - $124,000 22.7
$0 - $62,000 14.1

High for MI
Average for Nation

Value Relative to Nation Value Relative to State
41.2750498066331 25.4807692307692

Number Of Homes And Apartments:
4,085

Howell 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
-0.96% -0.06% 3 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$982 / 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