Manistique, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Manistique, MI Real Estate Data


Manistique Housing Market Information

With 2,982 people, 1,249 houses or apartments, and a median cost of homes of $70,417, house prices in Manistique 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 Manistique, accounting for 78.08% of the city's housing units. Other types of housing that are prevalent in Manistique include large apartment complexes or high rise apartments ( 10.39%), duplexes, homes converted to apartments or other small apartment buildings ( 7.84%), and a few row houses and other attached homes ( 2.04%).

The most prevalent building size and type in Manistique are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 60.24% owning and 39.76% renting.

The housing in Manistique was primarily built before 1939 ( 44.49%), making the housing stock in Manistique some of the oldest overall in America, although there is a range of ages of homes in Manistique. The next most important housing age is between 1940-1969 ( 32.63%), followed by between 1970-1999 ( 21.61%). There's also some housing in Manistique built between 2000 and later ( 1.27%).

Vacant housing appears to be an issue in Manistique. Fully 20.40% of the housing stock is classified as vacant. Left unchecked, vacant Manistique homes and apartments can be a drag on the real estate market, holding Manistique 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.

Manistique Home Appreciation Rates

Manistique's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Manistique during the period has been just -1.28%, which is lower than 70% of US communities.

Over the last year, Manistique appreciation rates have trailed the rest of the nation. In the last twelve months, Manistique's appreciation rate has been -1.53%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Manistique were at -1.27%, which equates to an annual appreciation rate of -4.98%.

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

Relative to Michigan, our data show that Manistique's latest annual appreciation rate is lower than 90% of the other cities and towns in Michigan.

Average Home Values

 

Median Home Value:
$70,417

Manistique, MI HOME PRICES

Value Range
> $1,015,000 0.0
$761,001 - $1,015,000 0.0
$508,001 - $761,000 0.0
$406,001 - $508,000 0.0
$305,001 - $406,000 0.9
$203,001 - $305,000 7.2
$101,001 - $203,000 11.4
$50,001 - $101,000 54.5
$0 - $50,000 25.9

Very Low for MI
Very Low for Nation

Value Relative to Nation Value Relative to State
94.9607406539318 94.3910256410256

Number Of Homes And Apartments:
1,249

Rent & Ownership

 

Average Market Rent:
$690 / per month

Homeownership Rate

Homeownership
Owners 60.24
Renters 39.76
Vacant 20.40

Housing Market Details

 

Age of Homes

AGE OF Manistique HOMES
2000 or Newer 1.3
1970 - 1999 21.6
1940 - 1969 32.6
1939 or Older 44.5

Types of Homes

TYPE OF Manistique HOMES
Single-Family 78.1
Townhomes 2.0
Small Apt. Buildings 7.8
Apt. Complexes 10.4
Mobile Homes 1.7
Other 0.0

Home Size

SIZE OF Manistique HOMES
No Bedroom 1.85
1 Bedroom 15.68
2 Bedrooms 27.66
3 Bedrooms 38.75
4 Bedrooms 12.68
5 or more bedrooms 3.38

Manistique Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
1.27% 0.07% 4 1
* 10 is highest

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Zip Codes in Manistique, MI