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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Lowell, MI Real Estate Market

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 Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Lowell, MI Housing Market Trends

With 4,121 people, 1,683 houses or apartments, and a median cost of homes of $297,949, Lowell 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 Lowell, accounting for 66.86% of the city's housing units. Other types of housing that are prevalent in Lowell include large apartment complexes or high rise apartments ( 18.10%), mobile homes or trailers ( 8.00%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.09%).

The most prevalent building size and type in Lowell are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 63.38% owning and 36.62% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Lowell's housing was primarily built during this period, from the '40s through the '60s. A full 38.25% of the city's housing hails from this era. Other housing ages represented in Lowell include homes built between 1970-1999 ( 26.96%) and housing constructed before 1939 ( 20.37%). There's also some housing in Lowell built between 2000 and later ( 14.42%).

Lowell Home Appreciation Rates

In the last 10 years, Lowell has experienced some of the highest home appreciation rates of any community in the nation. Lowell real estate appreciated 119.34% over the last ten years, which is an average annual home appreciation rate of 8.17%, putting Lowell in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Lowell definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Lowell that despite a nationwide downturn in the housing market, Lowell real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Lowell appreciation rates continue to be some of the highest in America, at 6.66%, which is higher than appreciation rates in 70.52% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Lowell. Lowell appreciation rates in the latest quarter were at -1.60%, which equates to an annual appreciation rate of -6.24%.

Notably, Lowell's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Michigan, our data show that Lowell's latest annual appreciation rate is lower than 50% of the other cities and towns in Michigan.

Average Home Values

Median Home Value

$297,949

Lowell, MI Home Prices
> $1,331,000
$998,001 - $1,331,000
$665,001 - $998,000
$532,001 - $665,000
$399,001 - $532,000
$266,001 - $399,000
$133,001 - $266,000
$67,001 - $133,000
$0 - $67,000
0.0%
0.0%
0.0%
0.0%
1.6%
1.6%
2.8%
2.8%
14.2%
14.2%
38.2%
38.2%
33.8%
33.8%
0.0%
0.0%
9.5%
9.5%
0% 100.0%
% of Homes
High

for Michigan

Average

for nation

Number of Homes And Apartments:

1,683

Lowell Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,306 / per month

Homeownership Rate

Owners
Renters
63.4%
63.4%
36.6%
36.6%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
4.5%
4.5%
95.5%
95.5%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
14.4%
14.4%
27.0%
27.0%
38.3%
38.3%
20.4%
20.4%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
66.9%
66.9%
3.0%
3.0%
4.1%
4.1%
18.1%
18.1%
8.0%
8.0%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.6%
0.6%
11.5%
11.5%
30.6%
30.6%
42.1%
42.1%
13.8%
13.8%
1.4%
1.4%
0% 100.0%
% of Homes

Popular Neighborhoods in Lowell

Zip Codes in Lowell, MI