Midland, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Midland, 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 2018. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2016 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Midland Housing Market Information

With a population of 42,096, 17,413 total housing units (homes and apartments), and a median house value of $153,183, 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 66.66% of the city's housing units. Other types of housing that are prevalent in Midland include large apartment complexes or high rise apartments ( 18.49%), duplexes, homes converted to apartments or other small apartment buildings ( 6.55%), and a few row houses and other attached homes ( 5.26%).

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 60.97% owning and 39.03% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Midland's housing was primarily built during this period, from the '40s through the '60s. A full 43.21% of the city's housing hails from this era. Other housing ages represented in Midland include homes built between 1970-1999 ( 41.72%) and housing constructed between 2000 and later ( 8.19%). There's also some housing in Midland built before 1939 ( 6.88%).

Midland Home Appreciation Rates

Real estate appreciation rates in Midland's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 0.37% during the period.

Appreciation rates are so strong in Midland that despite a nationwide downturn in the housing market, Midland real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Midland appreciation rates continue to be some of the highest in America, at 11.70%, which is higher than appreciation rates in 95.15% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Midland. Midland appreciation rates in the latest quarter were at 3.90%, which equates to an annual appreciation rate of 16.52%.

Importantly, NeighborhoodScout’s exclusive research found that Midland's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which 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 90% 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.

Average Home Values

 

Median Home Value:
$153,183

Midland, MI HOME PRICES

Value Range
> $1,121,925 0.3
$841,511 - $1,121,925 0.1
$561,298 - $841,510 0.5
$449,060 - $561,297 2.6
$336,657 - $449,059 4.1
$224,420 - $336,656 15.7
$112,239 - $224,419 47.2
$55,839 - $112,238 22.6
$0 - $55,838 6.9

High for MI
Average for Nation

Value Relative to Nation Value Relative to State
52.3036496350365 39.4230769230769

Number Of Homes And Apartments:
17,413

Midland Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
2017 Q4 - 2018 Q1
Last 12 Months:
2017 Q1 - 2018 Q1
Last 2 Years:
2016 Q1 - 2018 Q1
Last 5 Years:
2013 Q1 - 2018 Q1
Last 10 Years:
2008 Q1 - 2018 Q1
Since 2000:
2000 Q1 - 2018 Q1
11.23% 0.58%
5
1
* 10 is highest


Rent & Ownership

 

Average Market Rent:
$943 / per month

Homeownership Rate

Homeownership
Owners 60.97
Renters 39.03
Vacant 4.99

Housing Market Details

 

Age of Homes

AGE OF Midland HOMES
2000 or Newer 8.2
1970 - 1999 41.7
1940 - 1969 43.2
1939 or Older 6.9

Types of Homes

TYPE OF Midland HOMES
Single-Family 66.7
Townhomes 5.3
Small Apt. Buildings 6.5
Apt. Complexes 18.5
Mobile Homes 2.8
Other 0.2

Home Size

SIZE OF Midland HOMES
No Bedroom 1.17
1 Bedroom 9.91
2 Bedrooms 26.19
3 Bedrooms 38.00
4 Bedrooms 20.07
5 or more bedrooms 4.66