Otisville, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Otisville, 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

Otisville Housing Market Information

With a population of 825, 434 total housing units (homes and apartments), and a median house value of $126,846, house prices in Otisville are solidly below the national average.

Single-family detached homes are the single most common housing type in Otisville, accounting for 62.44% of the village's housing units. Other types of housing that are prevalent in Otisville include mobile homes or trailers ( 27.42%), duplexes, homes converted to apartments or other small apartment buildings ( 6.68%), and a few large apartment complexes or high rise apartments ( 2.53%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Otisville. Owner-occupied housing accounts for 78.34% of Otisville's homes, and 63.59% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Otisville 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 Otisville built between 1940-1969 ( 28.34%). A lesser amount of the housing stock also hails from before 1939 ( 27.88%). There's also some housing in Otisville built between 2000 and later ( 14.29%).

Otisville Home Appreciation Rates

Otisville's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Otisville during the period has been just -2.09%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Otisville's appreciation rate, at 3.99%, has been at or slightly above the national average. In the latest quarter, Otisville's appreciation rate has been 0.16%, which annualizes to a rate of 0.64%.

Relative to Michigan, our data show that Otisville's latest annual appreciation rate is lower than 60% of the other cities and towns in Michigan.

Average Home Values

 

Median Home Value:
$126,846

Otisville, MI HOME PRICES

Value Range
> $1,201,000 0.2
$901,001 - $1,201,000 0.0
$600,001 - $901,000 0.0
$480,001 - $600,000 0.0
$360,001 - $480,000 2.0
$240,001 - $360,000 6.5
$120,001 - $240,000 43.0
$60,001 - $120,000 31.1
$0 - $60,000 17.2

Average for MI
Low for Nation

Value Relative to Nation Value Relative to State
61.4672448142506 52.724358974359

Number Of Homes And Apartments:
434

Otisville 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
-13.70% -0.85% 1 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$806 / per month

Homeownership Rate

Homeownership
Owners 78.34
Renters 21.66
Vacant 0.00

Housing Market Details

 

Age of Homes

AGE OF Otisville HOMES
2000 or Newer 14.3
1970 - 1999 29.5
1940 - 1969 28.3
1939 or Older 27.9

Types of Homes

TYPE OF Otisville HOMES
Single-Family 62.4
Townhomes 0.9
Small Apt. Buildings 6.7
Apt. Complexes 2.5
Mobile Homes 27.4
Other 0.0

Home Size

SIZE OF Otisville HOMES
No Bedroom 0.00
1 Bedroom 5.30
2 Bedrooms 29.49
3 Bedrooms 50.92
4 Bedrooms 12.67
5 or more bedrooms 1.61

Popular Neighborhoods in Otisville

Zip Codes in Otisville, MI