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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 42,512, 17,813 total housing units (homes and apartments), and a median house value of $234,752, Midland 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 Midland, accounting for 66.86% of the city's housing units. Other types of housing that are prevalent in Midland include large apartment complexes or high rise apartments ( 20.43%), row houses and other attached homes ( 5.01%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.94%).
The most prevalent building size and type in Midland are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 63.91% owning and 36.09% renting.
There is a lot of housing in Midland 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 Midland built between 1940-1969 ( 39.01%). A lesser amount of the housing stock also hails from between 2000 and later ( 8.61%). There's also some housing in Midland built before 1939 ( 8.34%).
Midland's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Midland during the period has been just 4.98%, which is lower than 70% of US communities.
NeighborhoodScout's data show that during the latest twelve months, Midland's appreciation rate, at 5.06%, has been at or slightly above the national average. In the latest quarter, Midland's appreciation rate has been 5.30%, which annualizes to a rate of 22.93%.
Importantly, this makes Midland one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Michigan, our data show that Midland's latest annual appreciation rate is higher than 70% of the other cities and towns in Michigan.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Midland differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Midland - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Midland real estate investment or home purchase decisions.
$234,752
for Michigan
for nation
17,813
$1,667 / per month