Oscoda, MI Housing Market Trends
With 916 people, 387 houses or apartments, and a median cost of homes of $158,519, house prices in Oscoda 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 Oscoda, accounting for 74.19% of the town's housing units. Other types of housing that are prevalent in Oscoda include large apartment complexes or high rise apartments ( 17.44%), duplexes, homes converted to apartments or other small apartment buildings ( 7.01%), and a few row houses and other attached homes ( 1.37%).
Dwellings in Oscoda tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 52.65% of the homes in Oscoda have two or fewer bedrooms.
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. Oscoda's housing was primarily built during this period, from the '40s through the '60s. A full 52.82% of the town's housing hails from this era. Other housing ages represented in Oscoda include homes built between 1970-1999 ( 40.68%) and housing constructed before 1939 ( 5.98%).
A decent proportion of the Oscoda housing stock is seasonally occupied. That is, homes and condos in Oscoda are occupied by people for a portion of the year - mainly for vacation purposes - and then locked up and left unoccupied for the remainder of the year as owners return to their primary residences. This characteristic of the Oscoda housing market speaks to its popularity as a vacation location of choice.
Oscoda Home Appreciation Rates
Appreciation rates for homes in Oscoda have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 104.43%, which ranks in the top 40% nationwide. This equates to an annual average Oscoda house appreciation rate of 7.41%.
Appreciation rates are so strong in Oscoda that despite a nationwide downturn in the housing market, Oscoda real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Oscoda appreciation rates continue to be some of the highest in America, at 10.14%, which is higher than appreciation rates in 81.39% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Oscoda. Oscoda appreciation rates in the latest quarter were at 2.55%, which equates to an annual appreciation rate of 10.58%.
Importantly, this makes Oscoda one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.
Relative to Michigan, our data show that Oscoda's latest annual appreciation rate is higher than 60% 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 town. Individual neighborhoods within Oscoda differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Oscoda - 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 Oscoda real estate investment or home purchase decisions.
Median Home Value
$158,519
Very Low
for Michigan
Very Low
for nation
Number of Homes And Apartments:
387
MI
America
2024 Q3 - 2024 Q4
2023 Q4 - 2024 Q4
2022 Q4 - 2024 Q4
2019 Q4 - 2024 Q4
2014 Q4 - 2024 Q4
2000 Q1 - 2024 Q4
Average Market Rent:
$1,111 / per month