Indian River, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Indian River, MI Real Estate Data


Indian River Housing Market Information

With 1,927 people, 854 houses or apartments, and a median cost of homes of $163,851, Indian River 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 Indian River, accounting for 88.45% of the town's housing units. Other types of housing that are prevalent in Indian River include large apartment complexes or high rise apartments ( 4.84%), mobile homes or trailers ( 3.38%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.33%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Indian River. Owner-occupied housing accounts for 72.34% of Indian River's homes, and 56.18% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Indian River 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 Indian River built before 1939 ( 28.59%). A lesser amount of the housing stock also hails from between 1940-1969 ( 26.31%). There's also some housing in Indian River built between 2000 and later ( 8.63%).

A decent proportion of the Indian River housing stock is seasonally occupied. That is, homes and condos in Indian River 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 Indian River housing market speaks to its popularity as a vacation location of choice.

Indian River Home Appreciation Rates

Homes have actually lost value in Indian River over the last then years, as home values have seen a decline of 19.06% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Indian River home appreciation rates at 1.43%, which equates to an annual appreciation rate of 5.84%.

Over the last year, Indian River appreciation rates have trailed the rest of the nation. In the last twelve months, Indian River's appreciation rate has been 3.02%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Indian River were at 1.43%, which equates to an annual appreciation rate of 5.84%.

Relative to Michigan, our data show that Indian River's latest annual appreciation rate is lower than 80% of the other cities and towns in Michigan.

Average Home Values

 

Median Home Value:
$163,851

Indian River, MI HOME PRICES

Value Range
> $1,079,000 2.0
$810,001 - $1,079,000 3.3
$540,001 - $810,000 3.1
$432,001 - $540,000 4.0
$324,001 - $432,000 10.2
$216,001 - $324,000 12.1
$108,001 - $216,000 31.0
$54,001 - $108,000 23.1
$0 - $54,000 11.2

High for MI
Average for Nation

Value Relative to Nation Value Relative to State
45.3065526731862 29.4871794871795

Number Of Homes And Apartments:
854

Rent & Ownership

 

Average Market Rent:
$850 / per month

Homeownership Rate

Homeownership
Owners 72.34
Renters 27.66
Vacant 50.18

Housing Market Details

 

Age of Homes

AGE OF Indian River HOMES
2000 or Newer 8.6
1970 - 1999 36.5
1940 - 1969 26.3
1939 or Older 28.6

Types of Homes

TYPE OF Indian River HOMES
Single-Family 88.4
Townhomes 0.0
Small Apt. Buildings 3.3
Apt. Complexes 4.8
Mobile Homes 3.4
Other 0.0

Home Size

SIZE OF Indian River HOMES
No Bedroom 1.75
1 Bedroom 11.84
2 Bedrooms 25.20
3 Bedrooms 46.32
4 Bedrooms 9.86
5 or more bedrooms 5.02

Indian River 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
7.07% 0.40% 5 1
* 10 is highest

Popular Neighborhoods in Indian River

Popular Communities Near Indian River, MI

Zip Codes in Indian River, MI