Manistee, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Manistee, 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

Manistee Housing Market Information

With 6,084 people, 2,807 houses or apartments, and a median cost of homes of $142,050, Manistee 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 Manistee, accounting for 65.15% of the city's housing units. Other types of housing that are prevalent in Manistee include duplexes, homes converted to apartments or other small apartment buildings ( 17.41%), large apartment complexes or high rise apartments ( 11.45%), and a few row houses and other attached homes ( 4.15%).

The most prevalent building size and type in Manistee are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 60.72% owning and 39.28% renting.

The housing in Manistee was primarily built before 1939 ( 43.31%), making the housing stock in Manistee some of the oldest overall in America, although there is a range of ages of homes in Manistee. The next most important housing age is between 1970-1999 ( 24.27%), followed by between 1940-1969 ( 23.76%). There's also some housing in Manistee built between 2000 and later ( 8.65%).

Vacant housing appears to be an issue in Manistee. Fully 23.87% of the housing stock is classified as vacant. Left unchecked, vacant Manistee homes and apartments can be a drag on the real estate market, holding Manistee 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.

Manistee Home Appreciation Rates

Manistee's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Manistee during the period has been just -0.92%, which is lower than 70% of US communities.

Over the last year, Manistee appreciation rates have trailed the rest of the nation. In the last twelve months, Manistee's appreciation rate has been 2.85%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Manistee were at 0.00%, which equates to an annual appreciation rate of 0.00%.

Relative to Michigan, our data show that Manistee's latest annual appreciation rate is lower than 70% of the other cities and towns in Michigan.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Manistee differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Manistee - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Manistee real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$142,050

Manistee, MI HOME PRICES

Value Range
> $1,124,000 0.7
$843,001 - $1,124,000 0.8
$562,001 - $843,000 1.1
$449,001 - $562,000 1.1
$337,001 - $449,000 1.9
$225,001 - $337,000 9.3
$112,001 - $225,000 35.2
$56,001 - $112,000 37.5
$0 - $56,000 12.4

Average for MI
Average for Nation

Value Relative to Nation Value Relative to State
53.7970233212235 41.9871794871795

Number Of Homes And Apartments:
2,807

Manistee 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
20.87% 1.10% 8 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$814 / per month

Homeownership Rate

Homeownership
Owners 60.72
Renters 39.28
Vacant 23.87

Housing Market Details

 

Age of Homes

AGE OF Manistee HOMES
2000 or Newer 8.7
1970 - 1999 24.3
1940 - 1969 23.8
1939 or Older 43.3

Types of Homes

TYPE OF Manistee HOMES
Single-Family 65.1
Townhomes 4.1
Small Apt. Buildings 17.4
Apt. Complexes 11.4
Mobile Homes 1.7
Other 0.2

Home Size

SIZE OF Manistee HOMES
No Bedroom 0.57
1 Bedroom 13.21
2 Bedrooms 29.18
3 Bedrooms 38.32
4 Bedrooms 15.00
5 or more bedrooms 3.72

Zip Codes in Manistee, MI