Imlay City, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Imlay City Neighborhoods Since 2000




Imlay City, 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

Imlay City Housing Market Information

With 3,573 people, 1,427 houses or apartments, and a median cost of homes of $77,746, house prices in Imlay City 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 Imlay City, accounting for 45.21% of the city's housing units. Other types of housing that are prevalent in Imlay City include large apartment complexes or high rise apartments ( 28.81%), mobile homes or trailers ( 16.33%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.40%).

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

There is a lot of housing in Imlay City 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 Imlay City built before 1939 ( 26.82%). A lesser amount of the housing stock also hails from between 1940-1969 ( 18.97%). There's also some housing in Imlay City built between 2000 and later ( 2.64%).

Imlay City Home Appreciation Rates

Homes have actually lost value in Imlay City over the last then years, as home values have seen a decline of 26.93% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Imlay City home appreciation rates at 1.86%, which equates to an annual appreciation rate of 7.66%.

Appreciation rates are so strong in Imlay City that despite a nationwide downturn in the housing market, Imlay City real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Imlay City appreciation rates continue to be some of the highest in America, at 9.24%, which is higher than appreciation rates in 91.50% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Imlay City. Imlay City appreciation rates in the latest quarter were at 1.86%, which equates to an annual appreciation rate of 7.66%.

Importantly, this makes Imlay City 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 Imlay City's latest annual appreciation rate is higher than 80% of the other cities and towns in Michigan.

Average Home Values

 

Median Home Value:
$77,746

Imlay City, MI HOME PRICES

Value Range
> $1,207,000 0.0
$905,001 - $1,207,000 0.0
$604,001 - $905,000 0.0
$483,001 - $604,000 0.0
$362,001 - $483,000 0.0
$242,001 - $362,000 1.8
$121,001 - $242,000 27.9
$60,001 - $121,000 38.4
$0 - $60,000 31.9

Very Low for MI
Very Low for Nation

Value Relative to Nation Value Relative to State
91.8199929684753 92.3076923076923

Number Of Homes And Apartments:
1,427

Imlay City 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
-19.38% -1.24% 1 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$922 / per month

Homeownership Rate

Homeownership
Owners 51.03
Renters 48.97
Vacant 8.23

Housing Market Details

 

Age of Homes

AGE OF Imlay City HOMES
2000 or Newer 2.6
1970 - 1999 51.6
1940 - 1969 19.0
1939 or Older 26.8

Types of Homes

TYPE OF Imlay City HOMES
Single-Family 45.2
Townhomes 2.3
Small Apt. Buildings 7.4
Apt. Complexes 28.8
Mobile Homes 16.3
Other 0.0

Home Size

SIZE OF Imlay City HOMES
No Bedroom 1.41
1 Bedroom 24.63
2 Bedrooms 31.00
3 Bedrooms 30.93
4 Bedrooms 9.00
5 or more bedrooms 3.02

Popular Neighborhoods in Imlay City

Zip Codes in Imlay City, MI