Metamora, 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

Metamora, MI Housing Market Trends

With 563 people, 226 houses or apartments, and a median cost of homes of $295,817, Metamora real estate is some of the most expensive in Michigan, although Metamora home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Metamora, accounting for 86.27% of the village's housing units. Other types of housing that are prevalent in Metamora include duplexes, homes converted to apartments or other small apartment buildings ( 12.02%), row houses and other attached homes ( 1.72%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Metamora. Owner-occupied housing accounts for 75.66% of Metamora's homes, and 76.39% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Metamora 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 Metamora built before 1939 ( 33.05%). A lesser amount of the housing stock also hails from between 1940-1969 ( 21.89%). There's also some housing in Metamora built between 2000 and later ( 11.59%).

Metamora Home Appreciation Rates

In the last 10 years, Metamora has experienced some of the highest home appreciation rates of any community in the nation. Metamora real estate appreciated 57.95% over the last ten years, which is an average annual home appreciation rate of 4.68%, putting Metamora in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Metamora definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Metamora's appreciation rate, at 5.51%, has been at or slightly above the national average. In the latest quarter, Metamora's appreciation rate has been 2.47%, which annualizes to a rate of 10.26%.

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

Average Home Values

 

Median Home Value:
$295,817

Metamora, MI HOME PRICES

> $1,179,000
0.6%
0.6%
$885,001 - $1,179,000
2.4%
2.4%
$589,001 - $885,000
6.5%
6.5%
$472,001 - $589,000
4.3%
4.3%
$354,001 - $472,000
18.0%
18.0%
$236,001 - $354,000
31.1%
31.1%
$118,001 - $236,000
25.7%
25.7%
$59,001 - $118,000
4.3%
4.3%
$0 - $59,000
7.1%
7.1%
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:
226

Metamora 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
22.51% 0.97%
3
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,121 / per month

Homeownership Rate

Owners
75.7%
75.7%
Renters
24.3%
24.3%
Vacant
3.0%
3.0%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
11.6%
11.6%
1970 - 1999
33.5%
33.5%
1940 - 1969
21.9%
21.9%
1939 or Older
33.0%
33.0%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
86.3%
86.3%
Townhomes
1.7%
1.7%
Small Apt. Buildings
12.0%
12.0%
Apt. Complexes
0.0%
0.0%
Mobile Homes
0.0%
0.0%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.0%
0.0%
1 Bedroom
0.9%
0.9%
2 Bedrooms
18.9%
18.9%
3 Bedrooms
57.1%
57.1%
4 Bedrooms
19.3%
19.3%
5 or more bedrooms
3.9%
3.9%
0.0% 100.0%
% OF HOMES