Portage MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Portage, 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 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Portage Housing Market Information

With a population of 49,216, 2,100 total housing units (homes and apartments), and a median house value of $180,273, Portage 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 Portage, accounting for 68.50% of the city's housing units. Other types of housing that are prevalent in Portage include large apartment complexes or high rise apartments ( 20.61%), row houses and other attached homes ( 6.35%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.97%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Portage. Owner-occupied housing accounts for 68.90% of Portage's homes, and 59.88% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Portage 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 Portage built between 1940-1969 ( 36.08%). A lesser amount of the housing stock also hails from between 2000 and later ( 12.63%). There's also some housing in Portage built before 1939 ( 4.45%).

Portage Home Appreciation Rates

Appreciation rates for homes in Portage have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 39.40%, which ranks in the top 30% nationwide. This equates to an annual average Portage house appreciation rate of 3.38%.

Over the last year, Portage appreciation rates have trailed the rest of the nation. In the last twelve months, Portage's appreciation rate has been 3.56%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Portage were at 0.83%, which equates to an annual appreciation rate of 3.35%.

Relative to Michigan, our data show that Portage'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 Portage differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Portage - 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 Portage real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$180,273

Portage, MI HOME PRICES

Value Range
> $1,187,000 0.2
$891,001 - $1,187,000 0.6
$594,001 - $891,000 2.1
$475,001 - $594,000 3.0
$356,001 - $475,000 3.6
$237,001 - $356,000 19.5
$119,001 - $237,000 54.9
$60,001 - $119,000 11.5
$0 - $60,000 4.6

High for MI
Average for Nation

Value Relative to Nation Value Relative to State
47.643795620438 34.775641025641

Number Of Homes And Apartments:
2,100

Portage Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
2019 Q4 - 2020 Q1
Last 12 Months:
2019 Q1 - 2020 Q1
Last 2 Years:
2018 Q1 - 2020 Q1
Last 5 Years:
2015 Q1 - 2020 Q1
Last 10 Years:
2010 Q1 - 2020 Q1
Since 2000:
2000 Q1 - 2020 Q1
40.56% 1.70%
7
2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,139 / per month

Homeownership Rate

Homeownership
Owners 68.90
Renters 31.10
Vacant 5.70

Housing Market Details

 

Age of Homes

AGE OF Portage HOMES
2000 or Newer 12.6
1970 - 1999 46.8
1940 - 1969 36.1
1939 or Older 4.5

Types of Homes

TYPE OF Portage HOMES
Single-Family 68.5
Townhomes 6.4
Small Apt. Buildings 3.0
Apt. Complexes 20.6
Mobile Homes 1.6
Other 0.0

Home Size

SIZE OF Portage HOMES
No Bedroom 1.40
1 Bedroom 12.44
2 Bedrooms 20.71
3 Bedrooms 38.14
4 Bedrooms 21.74
5 or more bedrooms 5.57