Negaunee, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Negaunee, 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

Negaunee Housing Market Information

With a population of 4,582, 1,858 total housing units (homes and apartments), and a median house value of $103,227, 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 76.37% of the city's housing units. Other types of housing that are prevalent in Negaunee include large apartment complexes or high rise apartments ( 12.25%), duplexes, homes converted to apartments or other small apartment buildings ( 8.73%), and a few row houses and other attached homes ( 1.83%).

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 70.17% of Negaunee's homes, and 59.79% have either three or four bedrooms, which is average sized relative to America.

The housing in Negaunee was primarily built before 1939 ( 43.97%), 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 ( 32.02%), followed by between 1970-1999 ( 17.41%). There's also some housing in Negaunee built between 2000 and later ( 6.61%).

Vacant housing appears to be an issue in Negaunee. Fully 10.41% of the housing stock is classified as vacant. Left unchecked, vacant Negaunee homes and apartments can be a drag on the real estate market, holding Negaunee 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.

Negaunee Home Appreciation Rates

Appreciation rates for homes in Negaunee have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 10.58%, which ranks in the top 30% nationwide. This equates to an annual average Negaunee house appreciation rate of 1.01%.

NeighborhoodScout's data show that during the latest twelve months, Negaunee's appreciation rate, at 4.50%, has been at or slightly above the national average. In the latest quarter, Negaunee's appreciation rate has been 0.00%, which annualizes to a rate of 0.00%.

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

Average Home Values

 

Median Home Value:
$103,227

Negaunee, MI HOME PRICES

Value Range
> $1,071,000 0.0
$803,001 - $1,071,000 0.0
$536,001 - $803,000 0.3
$429,001 - $536,000 0.9
$321,001 - $429,000 3.0
$214,001 - $321,000 4.8
$107,001 - $214,000 45.1
$53,001 - $107,000 37.0
$0 - $53,000 8.9

Low for MI
Low for Nation

Value Relative to Nation Value Relative to State
75.512715340443 72.5961538461538

Number Of Homes And Apartments:
1,858

Negaunee 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
48.81% 2.33% 10 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$732 / per month

Homeownership Rate

Homeownership
Owners 70.17
Renters 29.83
Vacant 10.41

Housing Market Details

 

Age of Homes

AGE OF Negaunee HOMES
2000 or Newer 6.6
1970 - 1999 17.4
1940 - 1969 32.0
1939 or Older 44.0

Types of Homes

TYPE OF Negaunee HOMES
Single-Family 76.4
Townhomes 1.8
Small Apt. Buildings 8.7
Apt. Complexes 12.2
Mobile Homes 0.8
Other 0.0

Home Size

SIZE OF Negaunee HOMES
No Bedroom 0.96
1 Bedroom 9.02
2 Bedrooms 27.92
3 Bedrooms 40.50
4 Bedrooms 19.29
5 or more bedrooms 2.31

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Zip Codes in Negaunee, MI