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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Montrose, MI Real Estate Market

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 Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

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

Montrose, MI Housing Market Trends

With 1,712 people, 819 houses or apartments, and a median cost of homes of $109,133, house prices in Montrose 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 Montrose, accounting for 67.63% of the city's housing units. Other types of housing that are prevalent in Montrose include large apartment complexes or high rise apartments ( 20.00%), duplexes, homes converted to apartments or other small apartment buildings ( 9.94%), and a few row houses and other attached homes ( 2.43%).

People in Montrose primarily live in small (one, two or no bedroom) single-family detached homes. Montrose has a mixture of owner-occupied and renter-occupied housing.

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. Montrose's housing was primarily built during this period, from the '40s through the '60s. A full 49.36% of the city's housing hails from this era. Other housing ages represented in Montrose include homes built between 1970-1999 ( 26.94%) and housing constructed before 1939 ( 11.91%). There's also some housing in Montrose built between 2000 and later ( 11.79%).

Montrose Home Appreciation Rates

Real estate appreciation rates in Montrose's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.78% during the period.

NeighborhoodScout's data show that during the latest twelve months, Montrose's appreciation rate, at 6.43%, has been at or slightly above the national average. In the latest quarter, Montrose's appreciation rate has been 1.49%, which annualizes to a rate of 6.10%.

Relative to Michigan, our data show that Montrose's latest annual appreciation rate is lower than 60% of the other cities and towns in Michigan.

Average Home Values

Median Home Value

$109,133

Montrose, MI Home Prices
> $1,124,000
$843,001 - $1,124,000
$562,001 - $843,000
$450,001 - $562,000
$337,001 - $450,000
$225,001 - $337,000
$113,001 - $225,000
$56,001 - $113,000
$0 - $56,000
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.8%
0.8%
5.7%
5.7%
40.9%
40.9%
45.9%
45.9%
6.7%
6.7%
0% 100.0%
% of Homes
Very Low

for Michigan

Very Low

for nation

Number of Homes And Apartments:

819

Montrose Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,130 / per month

Homeownership Rate

Owners
Renters
54.7%
54.7%
45.3%
45.3%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
5.3%
5.3%
94.7%
94.7%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
11.8%
11.8%
26.9%
26.9%
49.4%
49.4%
11.9%
11.9%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
67.6%
67.6%
2.4%
2.4%
9.9%
9.9%
20.0%
20.0%
0.0%
0.0%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.3%
0.3%
19.3%
19.3%
31.1%
31.1%
36.9%
36.9%
10.8%
10.8%
1.6%
1.6%
0% 100.0%
% of Homes