Newaygo, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Newaygo Neighborhoods Since 2000




Newaygo, 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

Newaygo Housing Market Information

With 1,957 people, 769 houses or apartments, and a median cost of homes of $103,010, house prices in Newaygo are solidly below the national average.

Single-family detached homes are the single most common housing type in Newaygo, accounting for 50.51% of the city's housing units. Other types of housing that are prevalent in Newaygo include large apartment complexes or high rise apartments ( 33.14%), mobile homes or trailers ( 11.35%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.54%).

People in Newaygo primarily live in small (one, two or no bedroom) single-family detached homes. Newaygo has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Newaygo built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Newaygo built before 1939 ( 24.40%). A lesser amount of the housing stock also hails from between 1940-1969 ( 16.69%). There's also some housing in Newaygo built between 2000 and later ( 11.92%).

Vacant housing appears to be an issue in Newaygo. Fully 12.71% of the housing stock is classified as vacant. Left unchecked, vacant Newaygo homes and apartments can be a drag on the real estate market, holding Newaygo 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.

Newaygo Home Appreciation Rates

Newaygo's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Newaygo during the period has been just -1.11%, which is lower than 70% of US communities.

Over the last year, Newaygo appreciation rates have trailed the rest of the nation. In the last twelve months, Newaygo's appreciation rate has been 2.26%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Newaygo were at 0.00%, which equates to an annual appreciation rate of 0.00%.

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

Average Home Values

 

Median Home Value:
$103,010

Newaygo, MI HOME PRICES

Value Range
> $1,096,000 0.1
$822,001 - $1,096,000 0.0
$548,001 - $822,000 0.6
$438,001 - $548,000 0.6
$329,001 - $438,000 2.0
$219,001 - $329,000 11.2
$109,001 - $219,000 33.4
$55,001 - $109,000 34.9
$0 - $55,000 17.2

Low for MI
Low for Nation

Value Relative to Nation Value Relative to State
75.6240478143677 72.9166666666667

Number Of Homes And Apartments:
769

Newaygo 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
6.47% 0.36% 5 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$875 / per month

Homeownership Rate

Homeownership
Owners 52.67
Renters 47.33
Vacant 12.71

Housing Market Details

 

Age of Homes

AGE OF Newaygo HOMES
2000 or Newer 11.9
1970 - 1999 47.0
1940 - 1969 16.7
1939 or Older 24.4

Types of Homes

TYPE OF Newaygo HOMES
Single-Family 50.5
Townhomes 0.5
Small Apt. Buildings 4.5
Apt. Complexes 33.1
Mobile Homes 11.4
Other 0.0

Home Size

SIZE OF Newaygo HOMES
No Bedroom 3.75
1 Bedroom 12.49
2 Bedrooms 32.80
3 Bedrooms 31.10
4 Bedrooms 16.23
5 or more bedrooms 3.63