Olivet, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Olivet, 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

Olivet Housing Market Information

With a population of 1,610, 380 total housing units (homes and apartments), and a median house value of $132,041, house prices in Olivet are solidly below the national average.

Single-family detached homes are the single most common housing type in Olivet, accounting for 66.17% of the city's housing units. Other types of housing that are prevalent in Olivet include large apartment complexes or high rise apartments ( 21.80%), duplexes, homes converted to apartments or other small apartment buildings ( 10.28%), and a few mobile homes or trailers ( 1.75%).

Renters dominate Olivet's housing market, and most live in three of four bedroom dwellings, chiefly found in single-family detached homes.

The housing in Olivet was primarily built before 1939 ( 42.61%), making the housing stock in Olivet some of the oldest overall in America, although there is a range of ages of homes in Olivet. The next most important housing age is between 1940-1969 ( 32.58%), followed by between 1970-1999 ( 24.06%).

Olivet Home Appreciation Rates

Olivet's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Olivet during the period has been just -1.87%, which is lower than 80% of US communities.

Over the last year, Olivet appreciation rates have trailed the rest of the nation. In the last twelve months, Olivet's appreciation rate has been -2.38%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Olivet were at 1.36%, which equates to an annual appreciation rate of 5.54%.

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

Average Home Values

 

Median Home Value:
$132,041

Olivet, MI HOME PRICES

Value Range
> $1,083,000 0.0
$812,001 - $1,083,000 0.3
$542,001 - $812,000 0.2
$433,001 - $542,000 0.8
$325,001 - $433,000 2.3
$217,001 - $325,000 12.4
$108,001 - $217,000 47.0
$54,001 - $108,000 28.4
$0 - $54,000 8.6

Average for MI
Average for Nation

Value Relative to Nation Value Relative to State
58.7894058361655 48.0769230769231

Number Of Homes And Apartments:
380

Olivet 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
0.78% 0.05% 4 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$926 / per month

Homeownership Rate

Homeownership
Owners 34.37
Renters 65.63
Vacant 4.76

Housing Market Details

 

Age of Homes

AGE OF Olivet HOMES
2000 or Newer 0.8
1970 - 1999 24.1
1940 - 1969 32.6
1939 or Older 42.6

Types of Homes

TYPE OF Olivet HOMES
Single-Family 66.2
Townhomes 0.0
Small Apt. Buildings 10.3
Apt. Complexes 21.8
Mobile Homes 1.8
Other 0.0

Home Size

SIZE OF Olivet HOMES
No Bedroom 0.00
1 Bedroom 7.27
2 Bedrooms 39.35
3 Bedrooms 36.09
4 Bedrooms 14.79
5 or more bedrooms 2.51