Ironwood, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Ironwood Neighborhoods Since 2000




Ironwood, 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

Ironwood Housing Market Information

With 5,002 people, 2,490 houses or apartments, and a median cost of homes of $68,514, house prices in Ironwood 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 Ironwood, accounting for 84.42% of the city's housing units. Other types of housing that are prevalent in Ironwood include duplexes, homes converted to apartments or other small apartment buildings ( 7.86%), large apartment complexes or high rise apartments ( 6.82%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Ironwood. Owner-occupied housing accounts for 67.14% of Ironwood's homes, and 52.63% have either three or four bedrooms, which is average sized relative to America.

The housing in Ironwood was primarily built before 1939 ( 63.60%), making the housing stock in Ironwood some of the oldest overall in America, although there is a range of ages of homes in Ironwood. The next most important housing age is between 1940-1969 ( 25.78%), followed by between 1970-1999 ( 8.86%). There's also some housing in Ironwood built between 2000 and later ( 1.75%).

Vacant housing appears to be an issue in Ironwood. Fully 19.16% of the housing stock is classified as vacant. Left unchecked, vacant Ironwood homes and apartments can be a drag on the real estate market, holding Ironwood 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.

Ironwood Home Appreciation Rates

Real estate appreciation rates in Ironwood's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.64% during the period.

Over the last year, Ironwood appreciation rates have trailed the rest of the nation. In the last twelve months, Ironwood's appreciation rate has been 1.58%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Ironwood were at 0.00%, which equates to an annual appreciation rate of 0.00%.

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

Average Home Values

 

Median Home Value:
$68,514

Ironwood, MI HOME PRICES

Value Range
> $1,041,000 0.0
$781,001 - $1,041,000 0.0
$521,001 - $781,000 0.7
$417,001 - $521,000 0.0
$313,001 - $417,000 0.4
$208,001 - $313,000 2.8
$104,001 - $208,000 11.5
$52,001 - $104,000 38.2
$0 - $52,000 46.4

Very Low for MI
Very Low for Nation

Value Relative to Nation Value Relative to State
95.8455408414391 95.5128205128205

Number Of Homes And Apartments:
2,490

Ironwood 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
12.98% 0.71% 6 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$734 / per month

Homeownership Rate

Homeownership
Owners 67.14
Renters 32.86
Vacant 19.16

Housing Market Details

 

Age of Homes

AGE OF Ironwood HOMES
2000 or Newer 1.8
1970 - 1999 8.9
1940 - 1969 25.8
1939 or Older 63.6

Types of Homes

TYPE OF Ironwood HOMES
Single-Family 84.4
Townhomes 0.0
Small Apt. Buildings 7.9
Apt. Complexes 6.8
Mobile Homes 0.9
Other 0.0

Home Size

SIZE OF Ironwood HOMES
No Bedroom 0.29
1 Bedroom 10.91
2 Bedrooms 33.12
3 Bedrooms 39.38
4 Bedrooms 13.25
5 or more bedrooms 3.05

Popular Communities Near Ironwood, MI

Zip Codes in Ironwood, MI