Owosso, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Owosso Neighborhoods Since 2000




Owosso, 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

Owosso Housing Market Information

With 14,699 people, 6,181 houses or apartments, and a median cost of homes of $85,567, house prices in Owosso 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 Owosso, accounting for 68.85% of the city's housing units. Other types of housing that are prevalent in Owosso include duplexes, homes converted to apartments or other small apartment buildings ( 12.52%), large apartment complexes or high rise apartments ( 11.43%), and a few row houses and other attached homes ( 4.72%).

The most prevalent building size and type in Owosso are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 59.01% owning and 40.99% renting.

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. Owosso's housing was primarily built during this period, from the '40s through the '60s. A full 37.45% of the city's housing hails from this era. Other housing ages represented in Owosso include homes built before 1939 ( 36.44%) and housing constructed between 1970-1999 ( 20.74%). There's also some housing in Owosso built between 2000 and later ( 5.37%).

Owosso Home Appreciation Rates

Homes have actually lost value in Owosso over the last then years, as home values have seen a decline of 22.26% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Owosso home appreciation rates at 0.00%, which equates to an annual appreciation rate of 0.00%.

NeighborhoodScout's data show that during the latest twelve months, Owosso's appreciation rate, at 3.67%, has been at or slightly above the national average. In the latest quarter, Owosso's appreciation rate has been 0.00%, which annualizes to a rate of 0.00%.

Relative to Michigan, our data show that Owosso's latest annual appreciation rate is lower than 70% 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 city. Individual neighborhoods within Owosso differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Owosso - 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 Owosso real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$85,567

Owosso, MI HOME PRICES

Value Range
> $1,132,000 0.4
$849,001 - $1,132,000 0.2
$566,001 - $849,000 0.1
$452,001 - $566,000 0.0
$339,001 - $452,000 0.7
$226,001 - $339,000 1.5
$113,001 - $226,000 20.7
$56,001 - $113,000 54.1
$0 - $56,000 22.3

Very Low for MI
Very Low for Nation

Value Relative to Nation Value Relative to State
87.0619946091644 88.9423076923077

Number Of Homes And Apartments:
6,181

Owosso 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
-9.64% -0.59% 2 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$749 / per month

Homeownership Rate

Homeownership
Owners 59.01
Renters 40.99
Vacant 8.88

Housing Market Details

 

Age of Homes

AGE OF Owosso HOMES
2000 or Newer 5.4
1970 - 1999 20.7
1940 - 1969 37.4
1939 or Older 36.4

Types of Homes

TYPE OF Owosso HOMES
Single-Family 68.8
Townhomes 4.7
Small Apt. Buildings 12.5
Apt. Complexes 11.4
Mobile Homes 2.5
Other 0.0

Home Size

SIZE OF Owosso HOMES
No Bedroom 1.65
1 Bedroom 9.95
2 Bedrooms 29.62
3 Bedrooms 42.50
4 Bedrooms 13.02
5 or more bedrooms 3.26