Menominee, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Menominee, 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

Menominee Housing Market Information

With 8,382 people, 3,992 houses or apartments, and a median cost of homes of $77,605, house prices in Menominee 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 Menominee, accounting for 70.83% of the city's housing units. Other types of housing that are prevalent in Menominee include large apartment complexes or high rise apartments ( 14.31%), duplexes, homes converted to apartments or other small apartment buildings ( 10.33%), and a few mobile homes or trailers ( 3.86%).

The most prevalent building size and type in Menominee are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 62.71% owning and 37.29% renting.

The housing in Menominee was primarily built before 1939 ( 38.37%), making the housing stock in Menominee some of the oldest overall in America, although there is a range of ages of homes in Menominee. The next most important housing age is between 1940-1969 ( 37.33%), followed by between 1970-1999 ( 16.69%). There's also some housing in Menominee built between 2000 and later ( 7.61%).

Menominee Home Appreciation Rates

Real estate appreciation rates in Menominee's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.77% during the period.

Over the last year, Menominee appreciation rates have trailed the rest of the nation. In the last twelve months, Menominee's appreciation rate has been 1.65%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Menominee were at 0.00%, which equates to an annual appreciation rate of 0.00%.

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

Average Home Values

 

Median Home Value:
$77,605

Menominee, MI HOME PRICES

Value Range
> $1,039,000 0.0
$779,001 - $1,039,000 0.0
$519,001 - $779,000 0.8
$416,001 - $519,000 0.1
$312,001 - $416,000 2.1
$208,001 - $312,000 4.7
$104,001 - $208,000 22.8
$52,001 - $104,000 45.2
$0 - $52,000 24.4

Very Low for MI
Very Low for Nation

Value Relative to Nation Value Relative to State
91.8785890073831 92.4679487179487

Number Of Homes And Apartments:
3,992

Menominee 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
20.70% 1.10% 8 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$695 / per month

Homeownership Rate

Homeownership
Owners 62.71
Renters 37.29
Vacant 7.72

Housing Market Details

 

Age of Homes

AGE OF Menominee HOMES
2000 or Newer 7.6
1970 - 1999 16.7
1940 - 1969 37.3
1939 or Older 38.4

Types of Homes

TYPE OF Menominee HOMES
Single-Family 70.8
Townhomes 0.7
Small Apt. Buildings 10.3
Apt. Complexes 14.3
Mobile Homes 3.9
Other 0.0

Home Size

SIZE OF Menominee HOMES
No Bedroom 0.83
1 Bedroom 11.90
2 Bedrooms 33.68
3 Bedrooms 42.74
4 Bedrooms 8.65
5 or more bedrooms 2.20

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Zip Codes in Menominee, MI