Newberry, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Newberry Neighborhoods Since 2000




Newberry, 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

Newberry Housing Market Information

With 1,455 people, 732 houses or apartments, and a median cost of homes of $67,364, house prices in Newberry 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 Newberry, accounting for 83.30% of the village's housing units. Other types of housing that are prevalent in Newberry include duplexes, homes converted to apartments or other small apartment buildings ( 6.59%), mobile homes or trailers ( 4.95%), and a few large apartment complexes or high rise apartments ( 4.84%).

The most prevalent building size and type in Newberry are three and four bedroom dwellings, chiefly found in single-family detached homes. The village has a mixture of owners and renters, with 64.59% owning and 35.41% renting.

The housing in Newberry was primarily built before 1939 ( 40.99%), making the housing stock in Newberry some of the oldest overall in America, although there is a range of ages of homes in Newberry. The next most important housing age is between 1940-1969 ( 37.47%), followed by between 1970-1999 ( 17.03%). There's also some housing in Newberry built between 2000 and later ( 4.51%).

Vacant housing appears to be an issue in Newberry. Fully 19.56% of the housing stock is classified as vacant. Left unchecked, vacant Newberry homes and apartments can be a drag on the real estate market, holding Newberry 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.

Newberry Home Appreciation Rates

Homes have actually lost value in Newberry over the last then years, as home values have seen a decline of 24.40% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Newberry home appreciation rates at 0.00%, which equates to an annual appreciation rate of 0.00%.

Over the last year, Newberry appreciation rates have trailed the rest of the nation. In the last twelve months, Newberry's appreciation rate has been -5.27%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Newberry were at 0.00%, which equates to an annual appreciation rate of 0.00%.

Relative to Michigan, our data show that Newberry's latest annual appreciation rate is lower than 90% of the other cities and towns in Michigan.

Average Home Values

 

Median Home Value:
$67,364

Newberry, MI HOME PRICES

Value Range
> $981,000 0.0
$736,001 - $981,000 0.0
$491,001 - $736,000 0.0
$392,001 - $491,000 0.4
$295,001 - $392,000 1.5
$196,001 - $295,000 1.3
$98,001 - $196,000 22.9
$49,001 - $98,000 36.5
$0 - $49,000 37.3

Very Low for MI
Very Low for Nation

Value Relative to Nation Value Relative to State
96.2205554904488 95.8333333333333

Number Of Homes And Apartments:
732

Newberry 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
-2.50% -0.15% 3 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$718 / per month

Homeownership Rate

Homeownership
Owners 64.59
Renters 35.41
Vacant 19.56

Housing Market Details

 

Age of Homes

AGE OF Newberry HOMES
2000 or Newer 4.5
1970 - 1999 17.0
1940 - 1969 37.5
1939 or Older 41.0

Types of Homes

TYPE OF Newberry HOMES
Single-Family 83.3
Townhomes 0.3
Small Apt. Buildings 6.6
Apt. Complexes 4.8
Mobile Homes 4.9
Other 0.0

Home Size

SIZE OF Newberry HOMES
No Bedroom 0.99
1 Bedroom 5.60
2 Bedrooms 28.24
3 Bedrooms 44.18
4 Bedrooms 17.58
5 or more bedrooms 3.41

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Zip Codes in Newberry, MI