Lowell, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Lowell Neighborhoods Since 2000




Lowell, 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

Lowell Housing Market Information

With a population of 3,906, 1,428 total housing units (homes and apartments), and a median house value of $138,148, house prices in Lowell are solidly below the national average.

Single-family detached homes are the single most common housing type in Lowell, accounting for 64.09% of the city's housing units. Other types of housing that are prevalent in Lowell include large apartment complexes or high rise apartments ( 16.22%), duplexes, homes converted to apartments or other small apartment buildings ( 10.33%), and a few mobile homes or trailers ( 4.71%).

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 61.05% owning and 38.95% renting.

There is a lot of housing in Lowell 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 Lowell built between 1940-1969 ( 28.71%). A lesser amount of the housing stock also hails from before 1939 ( 25.70%). There's also some housing in Lowell built between 2000 and later ( 12.82%).

Lowell Home Appreciation Rates

Real estate appreciation rates in Lowell's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.33% during the period.

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 7.76%, which is higher than appreciation rates in 85.56% 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 3.68%, which equates to an annual appreciation rate of 15.57%.

Importantly, this makes Lowell 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 Lowell's latest annual appreciation rate is higher than 70% of the other cities and towns in Michigan.

Average Home Values

 

Median Home Value:
$138,148

Lowell, MI HOME PRICES

Value Range
> $1,245,000 0.5
$933,001 - $1,245,000 0.0
$623,001 - $933,000 0.0
$498,001 - $623,000 0.0
$374,001 - $498,000 2.0
$249,001 - $374,000 9.4
$125,001 - $249,000 45.4
$62,001 - $125,000 36.6
$0 - $62,000 6.1

Average for MI
Average for Nation

Value Relative to Nation Value Relative to State
55.6779561701629 44.2307692307692

Number Of Homes And Apartments:
1,428

Lowell 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
11.95% 0.66% 6 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$939 / per month

Homeownership Rate

Homeownership
Owners 61.05
Renters 38.95
Vacant 6.61

Housing Market Details

 

Age of Homes

AGE OF Lowell HOMES
2000 or Newer 12.8
1970 - 1999 32.8
1940 - 1969 28.7
1939 or Older 25.7

Types of Homes

TYPE OF Lowell HOMES
Single-Family 64.1
Townhomes 4.6
Small Apt. Buildings 10.3
Apt. Complexes 16.2
Mobile Homes 4.7
Other 0.0

Home Size

SIZE OF Lowell HOMES
No Bedroom 0.00
1 Bedroom 11.71
2 Bedrooms 33.36
3 Bedrooms 38.91
4 Bedrooms 13.28
5 or more bedrooms 2.75

Popular Neighborhoods in Lowell

Zip Codes in Lowell, MI