Mason, 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 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2020 (latest available). Updated annually.

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

Mason, MI Housing Market Trends

With a population of 8,283, 3,330 total housing units (homes and apartments), and a median house value of $277,697, Mason real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Mason, accounting for 57.87% of the city's housing units. Other types of housing that are prevalent in Mason include large apartment complexes or high rise apartments ( 24.37%), mobile homes or trailers ( 6.49%), and a few row houses and other attached homes ( 5.94%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Mason. Owner-occupied housing accounts for 65.32% of Mason's homes, and 53.33% have either three or four bedrooms, which is average sized relative to America.

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 ( 26.70%). A lesser amount of the housing stock also hails from between 2000 and later ( 25.53%). There's also some housing in Mason built before 1939 ( 17.76%).

Mason Home Appreciation Rates

Appreciation rates for homes in Mason have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 67.91%, which ranks in the top 40% nationwide. This equates to an annual average Mason house appreciation rate of 5.32%.

NeighborhoodScout's data show that during the latest twelve months, Mason's appreciation rate, at 17.59%, has been at or slightly above the national average. In the latest quarter, Mason's appreciation rate has been 6.53%, which annualizes to a rate of 28.79%.

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

Average Home Values

 

Median Home Value:
$277,697

Mason, MI HOME PRICES

> $1,365,000
0.0%
0.0%
$1,024,001 - $1,365,000
0.0%
0.0%
$683,001 - $1,024,000
0.4%
0.4%
$546,001 - $683,000
3.7%
3.7%
$410,001 - $546,000
11.9%
11.9%
$273,001 - $410,000
11.8%
11.8%
$136,001 - $273,000
50.1%
50.1%
$68,001 - $136,000
18.8%
18.8%
$0 - $68,000
3.3%
3.3%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

Very High for MI

Value Relative To Nation

Number Of Homes And Apartments:
3,330

Mason Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
2021 Q3 - 2021 Q4
Last 12 Months:
2020 Q4 - 2021 Q4
Last 2 Years:
2019 Q4 - 2021 Q4
Last 5 Years:
2016 Q4 - 2021 Q4
Last 10 Years:
2011 Q4 - 2021 Q4
Since 2000:
2000 Q1 - 2021 Q4
45.62% 1.72%
3
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,173 / per month

Homeownership Rate

Owners
65.3%
65.3%
Renters
34.7%
34.7%
Vacant
3.1%
3.1%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
25.5%
25.5%
1970 - 1999
30.0%
30.0%
1940 - 1969
26.7%
26.7%
1939 or Older
17.8%
17.8%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
57.9%
57.9%
Townhomes
5.9%
5.9%
Small Apt. Buildings
5.3%
5.3%
Apt. Complexes
24.4%
24.4%
Mobile Homes
6.5%
6.5%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.3%
0.3%
1 Bedroom
5.2%
5.2%
2 Bedrooms
33.9%
33.9%
3 Bedrooms
40.4%
40.4%
4 Bedrooms
12.9%
12.9%
5 or more bedrooms
7.2%
7.2%
0.0% 100.0%
% OF HOMES