Mecosta, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Mecosta, 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

Mecosta Housing Market Information

With 453 people, 198 houses or apartments, and a median cost of homes of $153,332, Mecosta 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 Mecosta, accounting for 73.09% of the village's housing units. Other types of housing that are prevalent in Mecosta include mobile homes or trailers ( 25.11%), duplexes, homes converted to apartments or other small apartment buildings ( 1.35%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Mecosta. Owner-occupied housing accounts for 72.73% of Mecosta's homes, and 62.33% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Mecosta 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 Mecosta built between 1940-1969 ( 26.46%). A lesser amount of the housing stock also hails from before 1939 ( 25.11%). There's also some housing in Mecosta built between 2000 and later ( 7.62%).

Vacant housing appears to be an issue in Mecosta. Fully 11.21% of the housing stock is classified as vacant. Left unchecked, vacant Mecosta homes and apartments can be a drag on the real estate market, holding Mecosta 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.

Mecosta Home Appreciation Rates

Mecosta's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Mecosta during the period has been just -1.10%, which is lower than 70% of US communities.

Appreciation rates are so strong in Mecosta that despite a nationwide downturn in the housing market, Mecosta real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Mecosta appreciation rates continue to be some of the highest in America, at 6.70%, which is higher than appreciation rates in 79.28% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Mecosta. Mecosta appreciation rates in the latest quarter were at 0.00%, which equates to an annual appreciation rate of 0.00%.

Relative to Michigan, our data show that Mecosta's latest annual appreciation rate is higher than 60% of the other cities and towns in Michigan.

Average Home Values

 

Median Home Value:
$153,332

Mecosta, MI HOME PRICES

Value Range
> $1,136,000 0.0
$852,001 - $1,136,000 0.0
$568,001 - $852,000 0.7
$455,001 - $568,000 0.8
$341,001 - $455,000 10.1
$227,001 - $341,000 14.6
$114,001 - $227,000 37.5
$57,001 - $114,000 21.7
$0 - $57,000 14.8

High for MI
Average for Nation

Value Relative to Nation Value Relative to State
48.6054142739951 35.2564102564103

Number Of Homes And Apartments:
198

Mecosta 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
13.07% 0.71% 6 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$732 / per month

Homeownership Rate

Homeownership
Owners 72.73
Renters 27.27
Vacant 11.21

Housing Market Details

 

Age of Homes

AGE OF Mecosta HOMES
2000 or Newer 7.6
1970 - 1999 40.8
1940 - 1969 26.5
1939 or Older 25.1

Types of Homes

TYPE OF Mecosta HOMES
Single-Family 73.1
Townhomes 0.4
Small Apt. Buildings 1.3
Apt. Complexes 0.0
Mobile Homes 25.1
Other 0.0

Home Size

SIZE OF Mecosta HOMES
No Bedroom 0.00
1 Bedroom 3.14
2 Bedrooms 28.70
3 Bedrooms 41.26
4 Bedrooms 21.08
5 or more bedrooms 5.83

Popular Neighborhoods in Mecosta

Zip Codes in Mecosta, MI