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 Q3 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Midland Housing Market Information

With 41,701 people, 2,201 houses or apartments, and a median cost of homes of $177,674, 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 75.18% of the city's housing units. Other types of housing that are prevalent in Midland include large apartment complexes or high rise apartments ( 10.80%), mobile homes or trailers ( 6.73%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.09%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Midland. Owner-occupied housing accounts for 73.37% of Midland's homes, and 65.66% have either three or four bedrooms, which is average sized relative to America.

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 ( 34.91%). A lesser amount of the housing stock also hails from between 2000 and later ( 13.03%). There's also some housing in Midland built before 1939 ( 7.00%).

Midland Home Appreciation Rates

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 1.73%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Midland's appreciation rate, at 4.16%, has been at or slightly above the national average. In the latest quarter, Midland's appreciation rate has been 2.80%, which annualizes to a rate of 11.69%.

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 60% 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:
$177,674

Midland, MI HOME PRICES

Value Range
> $1,176,000 0.5
$882,001 - $1,176,000 0.2
$588,001 - $882,000 1.1
$471,001 - $588,000 2.6
$353,001 - $471,000 4.3
$235,001 - $353,000 16.6
$118,001 - $235,000 46.3
$59,001 - $118,000 23.6
$0 - $59,000 4.8

High for MI
Average for Nation

Value Relative to Nation Value Relative to State
49.8802919708029 37.6602564102564

Number Of Homes And Apartments:
2,201

Midland Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
2020 Q2 - 2020 Q3
Last 12 Months:
2019 Q3 - 2020 Q3
Last 2 Years:
2018 Q3 - 2020 Q3
Last 5 Years:
2015 Q3 - 2020 Q3
Last 10 Years:
2010 Q3 - 2020 Q3
Since 2000:
2000 Q1 - 2020 Q3
19.50% 0.86%
3
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$979 / per month

Homeownership Rate

Homeownership
Owners 73.37
Renters 26.63
Vacant 6.39

Housing Market Details

 

Age of Homes

AGE OF Midland HOMES
2000 or Newer 13.0
1970 - 1999 45.1
1940 - 1969 34.9
1939 or Older 7.0

Types of Homes

TYPE OF Midland HOMES
Single-Family 75.2
Townhomes 3.2
Small Apt. Buildings 4.1
Apt. Complexes 10.8
Mobile Homes 6.7
Other 0.0

Home Size

SIZE OF Midland HOMES
No Bedroom 0.86
1 Bedroom 6.56
2 Bedrooms 21.35
3 Bedrooms 44.55
4 Bedrooms 21.11
5 or more bedrooms 5.56