Mason, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Mason Neighborhoods Since 2000




Mason, 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

Mason Housing Market Information

With 8,427 people, 3,201 houses or apartments, and a median cost of homes of $120,045, house prices in Mason are solidly below the national average.

Single-family detached homes are the single most common housing type in Mason, accounting for 49.51% of the city's housing units. Other types of housing that are prevalent in Mason include large apartment complexes or high rise apartments ( 25.77%), duplexes, homes converted to apartments or other small apartment buildings ( 9.25%), and a few mobile homes or trailers ( 8.12%).

The most prevalent building size and type in Mason are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 50.74% owning and 49.26% renting.

There is a lot of housing in Mason 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 Mason built between 1940-1969 ( 22.07%). A lesser amount of the housing stock also hails from before 1939 ( 20.86%). There's also some housing in Mason built between 2000 and later ( 19.42%).

Mason Home Appreciation Rates

Mason's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Mason during the period has been just -1.03%, which is lower than 70% of US communities.

Appreciation rates are so strong in Mason that despite a nationwide downturn in the housing market, Mason real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Mason appreciation rates continue to be some of the highest in America, at 10.48%, which is higher than appreciation rates in 95.09% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Mason. Mason appreciation rates in the latest quarter were at 1.36%, which equates to an annual appreciation rate of 5.54%.

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

Average Home Values

 

Median Home Value:
$120,045

Mason, MI HOME PRICES

Value Range
> $1,161,000 0.0
$871,001 - $1,161,000 0.0
$580,001 - $871,000 0.4
$464,001 - $580,000 0.0
$348,001 - $464,000 1.8
$232,001 - $348,000 14.6
$116,001 - $232,000 46.7
$58,001 - $116,000 20.8
$0 - $58,000 15.7

Average for MI
Low for Nation

Value Relative to Nation Value Relative to State
65.3580217977265 59.4551282051282

Number Of Homes And Apartments:
3,201

Mason 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
3.64% 0.21% 4 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$988 / per month

Homeownership Rate

Homeownership
Owners 50.74
Renters 49.26
Vacant 9.75

Housing Market Details

 

Age of Homes

AGE OF Mason HOMES
2000 or Newer 19.4
1970 - 1999 37.6
1940 - 1969 22.1
1939 or Older 20.9

Types of Homes

TYPE OF Mason HOMES
Single-Family 49.5
Townhomes 7.4
Small Apt. Buildings 9.2
Apt. Complexes 25.8
Mobile Homes 8.1
Other 0.0

Home Size

SIZE OF Mason HOMES
No Bedroom 0.28
1 Bedroom 10.88
2 Bedrooms 31.86
3 Bedrooms 42.26
4 Bedrooms 13.56
5 or more bedrooms 1.16