Mio, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Mio Neighborhoods Since 2000




Mio, 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 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

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

Mio Housing Market Information

With a population of 1,768, 733 total housing units (homes and apartments), and a median house value of $81,863, house prices in Mio are some of the most affordable in Michigan as well as the nation.

Single-family detached homes are the single most common housing type in Mio, accounting for 75.11% of the town's housing units. Other types of housing that are prevalent in Mio include mobile homes or trailers ( 17.72%), large apartment complexes or high rise apartments ( 6.08%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.10%).

Dwellings in Mio tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 62.45% of the homes in Mio have two or fewer bedrooms.

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. Mio's housing was primarily built during this period, from the '40s through the '60s. A full 58.23% of the town's housing hails from this era. Other housing ages represented in Mio include homes built between 1970-1999 ( 33.16%) and housing constructed before 1939 ( 5.65%). There's also some housing in Mio built between 2000 and later ( 2.95%).

A decent proportion of the Mio housing stock is seasonally occupied. That is, homes and condos in Mio are occupied by people for a portion of the year - mainly for vacation purposes - and then locked up and left unoccupied for the remainder of the year as owners return to their primary residences. This characteristic of the Mio housing market speaks to its popularity as a vacation location of choice.

Mio Home Appreciation Rates

Homes have actually lost value in Mio over the last then years, as home values have seen a decline of 19.68% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Mio home appreciation rates at 0.00%, which equates to an annual appreciation rate of 0.00%.

Over the last year, Mio appreciation rates have trailed the rest of the nation. In the last twelve months, Mio's appreciation rate has been -3.82%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Mio were at 0.00%, which equates to an annual appreciation rate of 0.00%.

Relative to Michigan, our data show that Mio's latest annual appreciation rate is lower than 90% of the other cities and towns in Michigan.

Average Home Values

 

Median Home Value:
$81,863

Mio, MI HOME PRICES

Value Range
> $1,013,000 0.1
$760,001 - $1,013,000 0.3
$506,001 - $760,000 1.6
$405,001 - $506,000 0.0
$304,001 - $405,000 2.0
$203,001 - $304,000 6.6
$101,001 - $203,000 24.1
$51,001 - $101,000 48.5
$0 - $51,000 16.7

Very Low for MI
Very Low for Nation

Value Relative to Nation Value Relative to State
89.3003632954412 90.224358974359

Number Of Homes And Apartments:
733

Mio Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
0.41% 0.02% 4 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$743 / per month

Homeownership Rate

Homeownership
Owners 68.83
Renters 31.17
Vacant 38.14

Housing Market Details

 

Age of Homes

AGE OF Mio HOMES
2000 or Newer 3.0
1970 - 1999 33.2
1940 - 1969 58.2
1939 or Older 5.7

Types of Homes

TYPE OF Mio HOMES
Single-Family 75.1
Townhomes 0.0
Small Apt. Buildings 1.1
Apt. Complexes 6.1
Mobile Homes 17.7
Other 0.0

Home Size

SIZE OF Mio HOMES
No Bedroom 6.92
1 Bedroom 17.81
2 Bedrooms 37.72
3 Bedrooms 32.07
4 Bedrooms 4.30
5 or more bedrooms 1.18

Popular Communities Near Mio, MI

Zip Codes in Mio, MI