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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With 24,208 people, 10,020 houses or apartments, and a median cost of homes of $173,275, Norton Shores real estate and house prices are near the national average for all cities and towns.
Single-family detached homes are the single most common housing type in Norton Shores, accounting for 73.63% of the city's housing units. Other types of housing that are prevalent in Norton Shores include large apartment complexes or high rise apartments ( 10.77%), mobile homes or trailers ( 8.31%), and a few row houses and other attached homes ( 4.46%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Norton Shores. Owner-occupied housing accounts for 82.28% of Norton Shores's homes, and 60.93% have either three or four bedrooms, which is average sized relative to America.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Norton Shores's housing was primarily built during this period, from the '40s through the '60s. A full 43.06% of the city's housing hails from this era. Other housing ages represented in Norton Shores include homes built between 1970-1999 ( 35.79%) and housing constructed between 2000 and later ( 14.73%). There's also some housing in Norton Shores built before 1939 ( 6.42%).
Real estate appreciation rates in Norton Shores's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.04% during the period.
Appreciation rates are so strong in Norton Shores that despite a nationwide downturn in the housing market, Norton Shores real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Norton Shores appreciation rates continue to be some of the highest in America, at 13.19%, which is higher than appreciation rates in 98.60% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Norton Shores. Norton Shores appreciation rates in the latest quarter were at 1.76%, which equates to an annual appreciation rate of 7.23%.
Importantly, this makes Norton Shores 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 Norton Shores's latest annual appreciation rate is higher than 90% of the other cities and towns in Michigan.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Norton Shores differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Norton Shores - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Norton Shores real estate investment or home purchase decisions.
|$943,001 - $1,257,000||0.8|
|$629,001 - $943,000||1.1|
|$503,001 - $629,000||1.2|
|$377,001 - $503,000||4.0|
|$251,001 - $377,000||12.5|
|$126,001 - $251,000||36.0|
|$63,001 - $126,000||30.9|
|$0 - $63,000||13.1|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Norton Shores HOMES|
|2000 or Newer||14.7|
|1970 - 1999||35.8|
|1940 - 1969||43.1|
|1939 or Older||6.4|
|TYPE OF Norton Shores HOMES|
|Small Apt. Buildings||2.7|
|SIZE OF Norton Shores HOMES|
|5 or more bedrooms||3.89|