Metamora, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Metamora Neighborhoods Since 2000




Metamora, 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

Metamora Housing Market Information

With a population of 566, 216 total housing units (homes and apartments), and a median house value of $249,156, 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 85.15% 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 ( 10.04%), row houses and other attached homes ( 3.93%).

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 75.46% of Metamora's homes, and 75.11% have either three or four bedrooms, which is average sized relative to America.

The housing in Metamora was primarily built before 1939 ( 41.05%), making the housing stock in Metamora some of the oldest overall in America, although there is a range of ages of homes in Metamora. The next most important housing age is between 1970-1999 ( 34.06%), followed by between 2000 and later ( 15.28%). There's also some housing in Metamora built between 1940-1969 ( 9.61%).

Metamora Home Appreciation Rates

Real estate appreciation rates in Metamora's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.63% during the period.

Appreciation rates are so strong in Metamora that despite a nationwide downturn in the housing market, Metamora real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Metamora appreciation rates continue to be some of the highest in America, at 8.43%, which is higher than appreciation rates in 88.64% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Metamora. Metamora appreciation rates in the latest quarter were at 1.86%, which equates to an annual appreciation rate of 7.66%.

Importantly, this makes Metamora one of the highest appreciating communities in the nation for the latest quarter, and may signal the village's near-future real estate investment strength.

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

Average Home Values

 

Median Home Value:
$249,156

Metamora, MI HOME PRICES

Value Range
> $1,256,000 0.6
$942,001 - $1,256,000 1.2
$628,001 - $942,000 2.0
$502,001 - $628,000 4.2
$377,001 - $502,000 13.0
$251,001 - $377,000 21.6
$125,001 - $251,000 34.4
$63,001 - $125,000 14.1
$0 - $63,000 8.9

Very High for MI
High for Nation

Value Relative to Nation Value Relative to State
22.6766670573069 7.8525641025641

Number Of Homes And Apartments:
216

Metamora 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
1.59% 0.09% 4 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,173 / per month

Homeownership Rate

Homeownership
Owners 75.46
Renters 24.54
Vacant 5.68

Housing Market Details

 

Age of Homes

AGE OF Metamora HOMES
2000 or Newer 15.3
1970 - 1999 34.1
1940 - 1969 9.6
1939 or Older 41.0

Types of Homes

TYPE OF Metamora HOMES
Single-Family 85.2
Townhomes 3.9
Small Apt. Buildings 10.0
Apt. Complexes 0.0
Mobile Homes 0.9
Other 0.0

Home Size

SIZE OF Metamora HOMES
No Bedroom 0.00
1 Bedroom 0.87
2 Bedrooms 21.83
3 Bedrooms 59.39
4 Bedrooms 15.72
5 or more bedrooms 2.18