Midland, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Midland, MI Real Estate Data


Midland Housing Market Information

With a population of 42,045, 17,603 total housing units (homes and apartments), and a median house value of $144,847, 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 65.01% of the city's housing units. Other types of housing that are prevalent in Midland include large apartment complexes or high rise apartments ( 18.16%), duplexes, homes converted to apartments or other small apartment buildings ( 7.18%), and a few row houses and other attached homes ( 5.83%).

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 61.59% owning and 38.41% 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 ( 42.03%). A lesser amount of the housing stock also hails from between 2000 and later ( 7.17%). There's also some housing in Midland built before 1939 ( 6.83%).

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 -0.52% during the period.

Over the last year, Midland appreciation rates have trailed the rest of the nation. In the last twelve months, Midland's appreciation rate has been 3.83%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Midland were at 3.30%, which equates to an annual appreciation rate of 13.89%.

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 lower 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.

Average Home Values

 

Median Home Value:
$144,847

Midland, MI HOME PRICES

Value Range
> $1,062,000 0.1
$797,001 - $1,062,000 0.3
$531,001 - $797,000 0.8
$425,001 - $531,000 1.7
$319,001 - $425,000 3.2
$212,001 - $319,000 13.5
$106,001 - $212,000 49.4
$53,001 - $106,000 24.1
$0 - $53,000 6.9

High for MI
Average for Nation

Value Relative to Nation Value Relative to State
53.2060666393395 40.0641025641026

Number Of Homes And Apartments:
17,603

Rent & Ownership

 

Average Market Rent:
$1,062 / per month

Homeownership Rate

Homeownership
Owners 61.59
Renters 38.41
Vacant 4.50

Housing Market Details

 

Age of Homes

AGE OF Midland HOMES
2000 or Newer 7.2
1970 - 1999 44.0
1940 - 1969 42.0
1939 or Older 6.8

Types of Homes

TYPE OF Midland HOMES
Single-Family 65.0
Townhomes 5.8
Small Apt. Buildings 7.2
Apt. Complexes 18.2
Mobile Homes 3.7
Other 0.2

Home Size

SIZE OF Midland HOMES
No Bedroom 1.45
1 Bedroom 10.20
2 Bedrooms 28.88
3 Bedrooms 36.49
4 Bedrooms 19.33
5 or more bedrooms 3.65

Midland Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
6.55% 0.37% 5 1
* 10 is highest