Ovid, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Ovid Neighborhoods Since 2000




Ovid, 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

Ovid Housing Market Information

With 1,606 people, 571 houses or apartments, and a median cost of homes of $157,574, Ovid 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 Ovid, accounting for 78.45% of the village's housing units. Other types of housing that are prevalent in Ovid include mobile homes or trailers ( 9.35%), large apartment complexes or high rise apartments ( 8.87%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.90%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Ovid. Owner-occupied housing accounts for 67.12% of Ovid's homes, and 60.86% have either three or four bedrooms, which is average sized relative to America.

The housing in Ovid was primarily built before 1939 ( 41.20%), making the housing stock in Ovid some of the oldest overall in America, although there is a range of ages of homes in Ovid. The next most important housing age is between 1940-1969 ( 32.33%), followed by between 1970-1999 ( 18.86%). There's also some housing in Ovid built between 2000 and later ( 7.61%).

Ovid Home Appreciation Rates

Real estate appreciation rates in Ovid's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.67% during the period.

Appreciation rates are so strong in Ovid that despite a nationwide downturn in the housing market, Ovid real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Ovid appreciation rates continue to be some of the highest in America, at 8.83%, which is higher than appreciation rates in 90.22% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Ovid. Ovid appreciation rates in the latest quarter were at 1.35%, which equates to an annual appreciation rate of 5.52%.

Relative to Michigan, our data show that Ovid's latest annual appreciation rate is higher than 80% of the other cities and towns in Michigan.

Average Home Values

 

Median Home Value:
$157,574

Ovid, MI HOME PRICES

Value Range
> $1,244,000 1.4
$933,001 - $1,244,000 0.0
$622,001 - $933,000 1.7
$498,001 - $622,000 0.9
$373,001 - $498,000 2.4
$249,001 - $373,000 14.0
$125,001 - $249,000 36.2
$62,001 - $125,000 30.4
$0 - $62,000 13.1

High for MI
Average for Nation

Value Relative to Nation Value Relative to State
46.7362006328372 33.0128205128205

Number Of Homes And Apartments:
571

Ovid 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
11.44% 0.63% 6 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$731 / per month

Homeownership Rate

Homeownership
Owners 67.12
Renters 32.88
Vacant 9.51

Housing Market Details

 

Age of Homes

AGE OF Ovid HOMES
2000 or Newer 7.6
1970 - 1999 18.9
1940 - 1969 32.3
1939 or Older 41.2

Types of Homes

TYPE OF Ovid HOMES
Single-Family 78.4
Townhomes 1.4
Small Apt. Buildings 1.9
Apt. Complexes 8.9
Mobile Homes 9.4
Other 0.0

Home Size

SIZE OF Ovid HOMES
No Bedroom 0.00
1 Bedroom 3.01
2 Bedrooms 33.28
3 Bedrooms 49.45
4 Bedrooms 11.41
5 or more bedrooms 2.85

Popular Neighborhoods in Ovid

Zip Codes in Ovid, MI