Negaunee, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Negaunee, MI Real Estate Data


Negaunee Housing Market Information

With 4,582 people, 1,909 houses or apartments, and a median cost of homes of $115,778, 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 73.82% of the city's housing units. Other types of housing that are prevalent in Negaunee include large apartment complexes or high rise apartments ( 14.70%), duplexes, homes converted to apartments or other small apartment buildings ( 8.36%), and a few row houses and other attached homes ( 1.87%).

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 69.15% of Negaunee's homes, and 59.08% have either three or four bedrooms, which is average sized relative to America.

The housing in Negaunee was primarily built before 1939 ( 45.34%), 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 ( 29.25%), followed by between 1970-1999 ( 20.08%). There's also some housing in Negaunee built between 2000 and later ( 5.33%).

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 12.60%, which ranks in the top 30% nationwide. This equates to an annual average Negaunee house appreciation rate of 1.19%.

Over the last year, Negaunee appreciation rates have trailed the rest of the nation. In the last twelve months, Negaunee's appreciation rate has been 3.22%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Negaunee were at 1.43%, which equates to an annual appreciation rate of 5.84%.

Relative to Michigan, our data show that Negaunee's latest annual appreciation rate is lower than 80% of the other cities and towns in Michigan.

Average Home Values

 

Median Home Value:
$115,778

Negaunee, MI HOME PRICES

Value Range
> $1,098,000 0.0
$823,001 - $1,098,000 0.0
$549,001 - $823,000 0.5
$439,001 - $549,000 0.9
$329,001 - $439,000 2.4
$219,001 - $329,000 4.6
$109,001 - $219,000 44.8
$55,001 - $109,000 37.3
$0 - $55,000 9.5

Low for MI
Low for Nation

Value Relative to Nation Value Relative to State
68.7474380746033 62.3397435897436

Number Of Homes And Apartments:
1,909

Rent & Ownership

 

Average Market Rent:
$694 / per month

Homeownership Rate

Homeownership
Owners 69.15
Renters 30.85
Vacant 8.31

Housing Market Details

 

Age of Homes

AGE OF Negaunee HOMES
2000 or Newer 5.3
1970 - 1999 20.1
1940 - 1969 29.3
1939 or Older 45.3

Types of Homes

TYPE OF Negaunee HOMES
Single-Family 73.8
Townhomes 1.9
Small Apt. Buildings 8.4
Apt. Complexes 14.7
Mobile Homes 1.2
Other 0.0

Home Size

SIZE OF Negaunee HOMES
No Bedroom 0.96
1 Bedroom 10.71
2 Bedrooms 27.04
3 Bedrooms 41.31
4 Bedrooms 17.77
5 or more bedrooms 2.21

Negaunee Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
46.13% 2.26% 10 5
* 10 is highest

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