Muskegon Heights, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Muskegon Heights Neighborhoods Since 2000




Muskegon Heights, 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

Muskegon Heights Housing Market Information

With a population of 10,796, 4,156 total housing units (homes and apartments), and a median house value of $52,367, 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 72.85% of the city's housing units. Other types of housing that are prevalent in Muskegon Heights include duplexes, homes converted to apartments or other small apartment buildings ( 13.44%), large apartment complexes or high rise apartments ( 10.63%), and a few mobile homes or trailers ( 1.72%).

The most prevalent building size and type in Muskegon Heights are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 48.91% owning and 51.09% renting.

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. Muskegon Heights's housing was primarily built during this period, from the '40s through the '60s. A full 47.32% of the city's housing hails from this era. Other housing ages represented in Muskegon Heights include homes built before 1939 ( 38.18%) and housing constructed between 1970-1999 ( 11.54%). There's also some housing in Muskegon Heights built between 2000 and later ( 2.96%).

Vacant housing appears to be an issue in Muskegon Heights. Fully 21.64% 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.

Muskegon Heights Home Appreciation Rates

Real estate appreciation rates in Muskegon Heights's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.20% during the period.

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 13.80%, which is higher than appreciation rates in 98.94% 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 1.76%, which equates to an annual appreciation rate of 7.23%.

Importantly, this makes Muskegon Heights 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 Muskegon Heights's latest annual appreciation rate is higher than 90% of the other cities and towns in Michigan.

Average Home Values

 

Median Home Value:
$52,367

Muskegon Heights, MI HOME PRICES

Value Range
> $1,238,000 0.0
$928,001 - $1,238,000 0.0
$619,001 - $928,000 1.5
$495,001 - $619,000 0.2
$371,001 - $495,000 0.2
$248,001 - $371,000 1.3
$124,001 - $248,000 8.9
$62,001 - $124,000 22.8
$0 - $62,000 65.1

Very Low for MI
Very Low for Nation

Value Relative to Nation Value Relative to State
99.0976210008203 98.8782051282051

Number Of Homes And Apartments:
4,156

Muskegon Heights 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
13.91% 0.76% 7 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$904 / per month

Homeownership Rate

Homeownership
Owners 48.91
Renters 51.09
Vacant 21.64

Housing Market Details

 

Age of Homes

AGE OF Muskegon Heights HOMES
2000 or Newer 3.0
1970 - 1999 11.5
1940 - 1969 47.3
1939 or Older 38.2

Types of Homes

TYPE OF Muskegon Heights HOMES
Single-Family 72.9
Townhomes 1.4
Small Apt. Buildings 13.4
Apt. Complexes 10.6
Mobile Homes 1.7
Other 0.0

Home Size

SIZE OF Muskegon Heights HOMES
No Bedroom 0.36
1 Bedroom 11.95
2 Bedrooms 36.10
3 Bedrooms 39.42
4 Bedrooms 9.29
5 or more bedrooms 2.87