Ortonville, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Ortonville Neighborhoods Since 2000




Ortonville, 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

Ortonville Housing Market Information

With 1,463 people, 552 houses or apartments, and a median cost of homes of $190,651, Ortonville real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Ortonville, accounting for 76.29% of the village's housing units. Other types of housing that are prevalent in Ortonville include duplexes, homes converted to apartments or other small apartment buildings ( 12.19%), large apartment complexes or high rise apartments ( 6.18%), and a few row houses and other attached homes ( 5.34%).

The most prevalent building size and type in Ortonville are three and four bedroom dwellings, chiefly found in single-family detached homes. The village has a mixture of owners and renters, with 62.97% owning and 37.03% renting.

There is a lot of housing in Ortonville 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 Ortonville built before 1939 ( 26.38%). A lesser amount of the housing stock also hails from between 1940-1969 ( 23.54%). There's also some housing in Ortonville built between 2000 and later ( 3.17%).

Ortonville Home Appreciation Rates

Ortonville's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Ortonville during the period has been just -1.17%, which is lower than 70% of US communities.

Appreciation rates are so strong in Ortonville that despite a nationwide downturn in the housing market, Ortonville real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Ortonville appreciation rates continue to be some of the highest in America, at 6.15%, which is higher than appreciation rates in 75.26% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Ortonville. Ortonville appreciation rates in the latest quarter were at 1.86%, which equates to an annual appreciation rate of 7.66%.

Importantly, this makes Ortonville one of the highest appreciating communities in the nation for the latest quarter, and may signal the village's near-future real estate investment strength.

Relative to Michigan, our data show that Ortonville's latest annual appreciation rate is higher than 50% of the other cities and towns in Michigan.

Average Home Values

 

Median Home Value:
$190,651

Ortonville, MI HOME PRICES

Value Range
> $1,271,000 0.0
$953,001 - $1,271,000 0.0
$636,001 - $953,000 0.0
$508,001 - $636,000 1.2
$381,001 - $508,000 1.0
$254,001 - $381,000 16.9
$127,001 - $254,000 56.6
$64,001 - $127,000 21.3
$0 - $64,000 2.9

Very High for MI
High for Nation

Value Relative to Nation Value Relative to State
34.7591702800891 17.1474358974359

Number Of Homes And Apartments:
552

Ortonville 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
0.39% 0.02% 4 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,114 / per month

Homeownership Rate

Homeownership
Owners 62.97
Renters 37.03
Vacant 7.85

Housing Market Details

 

Age of Homes

AGE OF Ortonville HOMES
2000 or Newer 3.2
1970 - 1999 46.9
1940 - 1969 23.5
1939 or Older 26.4

Types of Homes

TYPE OF Ortonville HOMES
Single-Family 76.3
Townhomes 5.3
Small Apt. Buildings 12.2
Apt. Complexes 6.2
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Ortonville HOMES
No Bedroom 0.00
1 Bedroom 3.17
2 Bedrooms 33.06
3 Bedrooms 42.90
4 Bedrooms 17.86
5 or more bedrooms 3.01