Indian River, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Indian River Neighborhoods Since 2000




Indian River, 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

Indian River Housing Market Information

With 1,927 people, 880 houses or apartments, and a median cost of homes of $238,117, Indian River real estate is some of the most expensive in Michigan, although Indian River home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Indian River, accounting for 84.66% of the town's housing units. Other types of housing that are prevalent in Indian River include large apartment complexes or high rise apartments ( 7.61%), duplexes, homes converted to apartments or other small apartment buildings ( 4.51%), and a few mobile homes or trailers ( 3.22%).

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 68.52% of Indian River's homes, and 58.02% 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 ( 31.09%). A lesser amount of the housing stock also hails from between 1940-1969 ( 22.95%). There's also some housing in Indian River built between 2000 and later ( 4.98%).

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

Indian River's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Indian River during the period has been just -1.56%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Indian River's appreciation rate, at 4.54%, has been at or slightly above the national average. In the latest quarter, Indian River's appreciation rate has been 0.00%, which annualizes to a rate of 0.00%.

Relative to Michigan, our data show that Indian River's latest annual appreciation rate is lower than 60% of the other cities and towns in Michigan.

Average Home Values

 

Median Home Value:
$238,117

Indian River, MI HOME PRICES

Value Range
> $1,104,000 2.2
$828,001 - $1,104,000 2.6
$552,001 - $828,000 2.9
$442,001 - $552,000 6.2
$331,001 - $442,000 9.6
$221,001 - $331,000 12.1
$110,001 - $221,000 29.9
$55,001 - $110,000 24.1
$0 - $55,000 10.5

Very High for MI
High for Nation

Value Relative to Nation Value Relative to State
24.4462674323216 8.97435897435897

Number Of Homes And Apartments:
880

Indian River 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
10.46% 0.58% 6 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$645 / per month

Homeownership Rate

Homeownership
Owners 68.52
Renters 31.48
Vacant 48.48

Housing Market Details

 

Age of Homes

AGE OF Indian River HOMES
2000 or Newer 5.0
1970 - 1999 41.0
1940 - 1969 23.0
1939 or Older 31.1

Types of Homes

TYPE OF Indian River HOMES
Single-Family 84.7
Townhomes 0.0
Small Apt. Buildings 4.5
Apt. Complexes 7.6
Mobile Homes 3.2
Other 0.0

Home Size

SIZE OF Indian River HOMES
No Bedroom 3.22
1 Bedroom 14.52
2 Bedrooms 20.02
3 Bedrooms 46.84
4 Bedrooms 11.18
5 or more bedrooms 4.22

Popular Neighborhoods in Indian River

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Zip Codes in Indian River, MI