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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With 2,362 people, 999 houses or apartments, and a median cost of homes of $147,380, Montague 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 Montague, accounting for 76.36% of the city's housing units. Other types of housing that are prevalent in Montague include large apartment complexes or high rise apartments ( 16.64%), duplexes, homes converted to apartments or other small apartment buildings ( 4.82%), and a few row houses and other attached homes ( 2.19%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Montague. Owner-occupied housing accounts for 67.62% of Montague's homes, and 49.82% have either three or four bedrooms, which is average sized relative to America.
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. Montague's housing was primarily built during this period, from the '40s through the '60s. A full 35.73% of the city's housing hails from this era. Other housing ages represented in Montague include homes built between 1970-1999 ( 32.84%) and housing constructed before 1939 ( 21.89%). There's also some housing in Montague built between 2000 and later ( 9.54%).
Vacant housing appears to be an issue in Montague. Fully 12.52% of the housing stock is classified as vacant. Left unchecked, vacant Montague homes and apartments can be a drag on the real estate market, holding Montague real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Real estate appreciation rates in Montague's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.59% during the period.
Appreciation rates are so strong in Montague that despite a nationwide downturn in the housing market, Montague real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Montague appreciation rates continue to be some of the highest in America, at 7.81%, which is higher than appreciation rates in 85.77% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Montague. Montague appreciation rates in the latest quarter were at 1.76%, which equates to an annual appreciation rate of 7.23%.
Importantly, this makes Montague 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 Montague's latest annual appreciation rate is higher than 70% of the other cities and towns in Michigan.
|$859,001 - $1,145,000||1.9|
|$573,001 - $859,000||4.0|
|$458,001 - $573,000||2.8|
|$344,001 - $458,000||3.4|
|$229,001 - $344,000||8.1|
|$115,001 - $229,000||41.2|
|$57,001 - $115,000||32.1|
|$0 - $57,000||6.0|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Montague HOMES|
|2000 or Newer||9.5|
|1970 - 1999||32.8|
|1940 - 1969||35.7|
|1939 or Older||21.9|
|TYPE OF Montague HOMES|
|Small Apt. Buildings||4.8|
|SIZE OF Montague HOMES|
|5 or more bedrooms||5.52|