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 Q2 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 42,096 people, 17,413 houses or apartments, and a median cost of homes of $146,908, house prices in Midland are solidly below the national average.

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

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 0.04%, which is lower than 70% of US communities.

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 1.54%, 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 -4.64%, which equates to an annual appreciation rate of -17.29%.

Notably, Midland's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Michigan, our data show that Midland's latest annual appreciation rate is lower than 80% 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:
$146,908

Midland, MI HOME PRICES

Value Range
> $1,076,000 0.3
$807,001 - $1,076,000 0.1
$538,001 - $807,000 0.5
$430,001 - $538,000 2.6
$323,001 - $430,000 4.1
$215,001 - $323,000 15.7
$108,001 - $215,000 47.2
$54,001 - $108,000 22.6
$0 - $54,000 6.9

Average for MI
Average for Nation

Value Relative to Nation Value Relative to State
56.0992700729927 44.7115384615385

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:
2018 Q1 - 2018 Q2
Last 12 Months:
2017 Q2 - 2018 Q2
Last 2 Years:
2016 Q2 - 2018 Q2
Last 5 Years:
2013 Q2 - 2018 Q2
Last 10 Years:
2008 Q2 - 2018 Q2
Since 2000:
2000 Q1 - 2018 Q2
6.70% 0.35%
3
1
* 10 is highest


Rent & Ownership

 

Average Market Rent:
$1,027 / 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