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 about Scout's Real Estate Data
With 9,839 people, 3,611 houses or apartments, and a median cost of homes of $96,314, house prices in Muskegon Heights 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 Muskegon Heights, accounting for 78.02% of the city's housing units. Other types of housing that are prevalent in Muskegon Heights include large apartment complexes or high rise apartments ( 13.94%), duplexes, homes converted to apartments or other small apartment buildings ( 5.90%), and a few mobile homes or trailers ( 1.42%).
People in Muskegon Heights primarily live in small (one, two or no bedroom) single-family detached homes. Muskegon Heights has a mixture of owner-occupied and renter-occupied housing.
The housing in Muskegon Heights was primarily built before 1939 ( 43.52%), making the housing stock in Muskegon Heights some of the oldest overall in America, although there is a range of ages of homes in Muskegon Heights. The next most important housing age is between 1940-1969 ( 40.58%), followed by between 1970-1999 ( 14.22%). There's also some housing in Muskegon Heights built between 2000 and later ( 1.68%).
Vacant housing appears to be an issue in Muskegon Heights. Fully 21.35% of the housing stock is classified as vacant. Left unchecked, vacant Muskegon Heights homes and apartments can be a drag on the real estate market, holding Muskegon Heights 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.
In the last 10 years, Muskegon Heights has experienced some of the highest home appreciation rates of any community in the nation. Muskegon Heights real estate appreciated 128.26% over the last ten years, which is an average annual home appreciation rate of 8.60%, putting Muskegon Heights in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Muskegon Heights definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Appreciation rates are so strong in Muskegon Heights that despite a nationwide downturn in the housing market, Muskegon Heights real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Muskegon Heights appreciation rates continue to be some of the highest in America, at 8.58%, which is higher than appreciation rates in 90.52% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Muskegon Heights. Muskegon Heights appreciation rates in the latest quarter were at -3.57%, which equates to an annual appreciation rate of -13.53%.
Notably, Muskegon Heights's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Michigan, our data show that Muskegon Heights's latest annual appreciation rate is higher than 90% of the other cities and towns in Michigan.
$96,314
for Michigan
for nation
3,611
$1,286 / per month