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 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (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 8,458, 3,436 total housing units (homes and apartments), and a median house value of $154,791, 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 56.64% of the city's housing units. Other types of housing that are prevalent in Mason include large apartment complexes or high rise apartments ( 23.35%), mobile homes or trailers ( 9.10%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.84%).

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 62.56% owning and 37.44% 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 ( 27.28%). A lesser amount of the housing stock also hails from between 2000 and later ( 23.88%). There's also some housing in Mason built before 1939 ( 19.09%).

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 37.64%, which ranks in the top 40% nationwide. This equates to an annual average Mason house appreciation rate of 3.25%.

NeighborhoodScout's data show that during the latest twelve months, Mason's appreciation rate, at 5.40%, has been at or slightly above the national average. In the latest quarter, Mason's appreciation rate has been 2.58%, which annualizes to a rate of 10.71%.

Relative to Michigan, our data show that Mason's latest annual appreciation rate is lower than 80% of the other cities and towns in Michigan.

Average Home Values

 

Median Home Value:
$154,791

Mason, MI HOME PRICES

> $1,170,000
0.0%
0.0%
$877,001 - $1,170,000
0.0%
0.0%
$585,001 - $877,000
0.4%
0.4%
$468,001 - $585,000
0.3%
0.3%
$351,001 - $468,000
8.6%
8.6%
$234,001 - $351,000
9.7%
9.7%
$117,001 - $234,000
51.4%
51.4%
$59,001 - $117,000
18.1%
18.1%
$0 - $59,000
11.4%
11.4%
0.0% 100.0%
% OF HOMES
Value Relative To State

Low for Nation

Average for MI

Value Relative To Nation

Number Of Homes And Apartments:
3,436

Mason Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
20.20% 0.88%
3
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,110 / per month

Homeownership Rate

Owners
62.6%
62.6%
Renters
37.4%
37.4%
Vacant
4.9%
4.9%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
23.9%
23.9%
1970 - 1999
29.7%
29.7%
1940 - 1969
27.3%
27.3%
1939 or Older
19.1%
19.1%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
56.6%
56.6%
Townhomes
5.1%
5.1%
Small Apt. Buildings
5.8%
5.8%
Apt. Complexes
23.4%
23.4%
Mobile Homes
9.1%
9.1%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.6%
0.6%
1 Bedroom
5.3%
5.3%
2 Bedrooms
30.0%
30.0%
3 Bedrooms
43.2%
43.2%
4 Bedrooms
16.6%
16.6%
5 or more bedrooms
4.2%
4.2%
0.0% 100.0%
% OF HOMES