Montrose, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Montrose Neighborhoods Since 2000




Montrose, 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

Montrose Housing Market Information

With 1,587 people, 623 houses or apartments, and a median cost of homes of $95,865, house prices in Montrose are solidly below the national average.

Single-family detached homes are the single most common housing type in Montrose, accounting for 75.87% of the city's housing units. Other types of housing that are prevalent in Montrose include large apartment complexes or high rise apartments ( 16.18%), duplexes, homes converted to apartments or other small apartment buildings ( 6.00%), and a few row houses and other attached homes ( 1.12%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Montrose. Owner-occupied housing accounts for 67.21% of Montrose's homes, and 58.72% 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. Montrose's housing was primarily built during this period, from the '40s through the '60s. A full 42.96% of the city's housing hails from this era. Other housing ages represented in Montrose include homes built between 1970-1999 ( 26.22%) and housing constructed before 1939 ( 23.15%). There's also some housing in Montrose built between 2000 and later ( 7.67%).

Vacant housing appears to be an issue in Montrose. Fully 13.11% of the housing stock is classified as vacant. Left unchecked, vacant Montrose homes and apartments can be a drag on the real estate market, holding Montrose 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.

Montrose Home Appreciation Rates

Montrose's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Montrose during the period has been just -1.28%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Montrose's appreciation rate, at 3.50%, has been at or slightly above the national average. In the latest quarter, Montrose's appreciation rate has been 0.16%, which annualizes to a rate of 0.64%.

Relative to Michigan, our data show that Montrose's latest annual appreciation rate is lower than 70% of the other cities and towns in Michigan.

Average Home Values

 

Median Home Value:
$95,865

Montrose, MI HOME PRICES

Value Range
> $1,241,000 0.0
$931,001 - $1,241,000 0.0
$620,001 - $931,000 0.0
$497,001 - $620,000 0.0
$372,001 - $497,000 0.0
$248,001 - $372,000 0.5
$124,001 - $248,000 27.2
$62,001 - $124,000 55.7
$0 - $62,000 16.6

Low for MI
Very Low for Nation

Value Relative to Nation Value Relative to State
80.2882925114262 79.0064102564102

Number Of Homes And Apartments:
623

Montrose 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
-1.73% -0.10% 3 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$792 / per month

Homeownership Rate

Homeownership
Owners 67.21
Renters 32.79
Vacant 13.11

Housing Market Details

 

Age of Homes

AGE OF Montrose HOMES
2000 or Newer 7.7
1970 - 1999 26.2
1940 - 1969 43.0
1939 or Older 23.2

Types of Homes

TYPE OF Montrose HOMES
Single-Family 75.9
Townhomes 1.1
Small Apt. Buildings 6.0
Apt. Complexes 16.2
Mobile Homes 0.8
Other 0.0

Home Size

SIZE OF Montrose HOMES
No Bedroom 1.26
1 Bedroom 10.88
2 Bedrooms 27.75
3 Bedrooms 49.23
4 Bedrooms 9.48
5 or more bedrooms 1.39