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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.



Negaunee, 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

Negaunee, MI Housing Market Trends

With 4,659 people, 2,030 houses or apartments, and a median cost of homes of $173,420, house prices in Negaunee are solidly below the national average.

Single-family detached homes are the single most common housing type in Negaunee, accounting for 83.17% of the city's housing units. Other types of housing that are prevalent in Negaunee include large apartment complexes or high rise apartments ( 11.81%), duplexes, homes converted to apartments or other small apartment buildings ( 4.21%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Negaunee. Owner-occupied housing accounts for 78.53% of Negaunee's homes, and 57.07% have either three or four bedrooms, which is average sized relative to America.

The housing in Negaunee was primarily built before 1939 ( 39.10%), making the housing stock in Negaunee some of the oldest overall in America, although there is a range of ages of homes in Negaunee. The next most important housing age is between 1940-1969 ( 32.55%), followed by between 1970-1999 ( 19.69%). There's also some housing in Negaunee built between 2000 and later ( 8.65%).

Negaunee Home Appreciation Rates

Real estate appreciation rates in Negaunee's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.94% during the period.

Appreciation rates are so strong in Negaunee that despite a nationwide downturn in the housing market, Negaunee real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Negaunee appreciation rates continue to be some of the highest in America, at 7.90%, which is higher than appreciation rates in 84.82% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Negaunee. Negaunee appreciation rates in the latest quarter were at 2.30%, which equates to an annual appreciation rate of 9.51%.

Importantly, this makes Negaunee 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 Negaunee's latest annual appreciation rate is higher than 50% of the other cities and towns in Michigan.

Average Home Values

Median Home Value

$173,420

Negaunee, MI Home Prices
> $1,355,000
$1,016,001 - $1,355,000
$677,001 - $1,016,000
$542,001 - $677,000
$406,001 - $542,000
$271,001 - $406,000
$136,001 - $271,000
$68,001 - $136,000
$0 - $68,000
0.4%
0.4%
0.3%
0.3%
1.5%
1.5%
0.5%
0.5%
4.2%
4.2%
16.3%
16.3%
51.6%
51.6%
21.8%
21.8%
3.4%
3.4%
0% 100.0%
% of Homes
Low

for Michigan

Low

for nation

Number of Homes And Apartments:

2,030

Negaunee Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,166 / per month

Homeownership Rate

Owners
Renters
78.5%
78.5%
21.5%
21.5%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
3.0%
3.0%
97.0%
97.0%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
8.7%
8.7%
19.7%
19.7%
32.6%
32.6%
39.1%
39.1%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
83.2%
83.2%
0.2%
0.2%
4.2%
4.2%
11.8%
11.8%
0.6%
0.6%
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
1.4%
1.4%
6.1%
6.1%
33.7%
33.7%
41.6%
41.6%
15.5%
15.5%
1.7%
1.7%
0% 100.0%
% of Homes

Popular Neighborhoods in Negaunee

Zip Codes in Negaunee, MI