Reese, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Reese Neighborhoods Since 2000




Reese, 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

Reese Housing Market Information

With 1,408 people, 736 houses or apartments, and a median cost of homes of $132,171, house prices in Reese are solidly below the national average.

Single-family detached homes are the single most common housing type in Reese, accounting for 66.32% of the village's housing units. Other types of housing that are prevalent in Reese include mobile homes or trailers ( 12.13%), large apartment complexes or high rise apartments ( 8.65%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.71%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Reese. Owner-occupied housing accounts for 75.54% of Reese's homes, and 59.10% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Reese 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 Reese built between 1940-1969 ( 32.90%). A lesser amount of the housing stock also hails from before 1939 ( 19.35%). There's also some housing in Reese built between 2000 and later ( 7.61%).

Reese Home Appreciation Rates

Reese's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Reese during the period has been just -1.28%, which is lower than 70% of US communities.

Appreciation rates are so strong in Reese that despite a nationwide downturn in the housing market, Reese real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Reese appreciation rates continue to be some of the highest in America, at 8.10%, which is higher than appreciation rates in 87.18% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Reese. Reese appreciation rates in the latest quarter were at -0.11%, which equates to an annual appreciation rate of -0.42%.

Relative to Michigan, our data show that Reese's latest annual appreciation rate is higher than 70% of the other cities and towns in Michigan.

Average Home Values

 

Median Home Value:
$132,171

Reese, MI HOME PRICES

Value Range
> $1,159,000 0.9
$870,001 - $1,159,000 0.2
$580,001 - $870,000 0.2
$464,001 - $580,000 0.3
$348,001 - $464,000 0.9
$232,001 - $348,000 10.8
$116,001 - $232,000 49.0
$58,001 - $116,000 29.0
$0 - $58,000 8.7

Average for MI
Average for Nation

Value Relative to Nation Value Relative to State
58.7249501933669 47.9166666666667

Number Of Homes And Apartments:
736

Reese 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
-6.52% -0.39% 2 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$680 / per month

Homeownership Rate

Homeownership
Owners 75.54
Renters 24.46
Vacant 5.03

Housing Market Details

 

Age of Homes

AGE OF Reese HOMES
2000 or Newer 7.6
1970 - 1999 40.1
1940 - 1969 32.9
1939 or Older 19.4

Types of Homes

TYPE OF Reese HOMES
Single-Family 66.3
Townhomes 6.2
Small Apt. Buildings 6.7
Apt. Complexes 8.6
Mobile Homes 12.1
Other 0.0

Home Size

SIZE OF Reese HOMES
No Bedroom 0.00
1 Bedroom 6.97
2 Bedrooms 31.23
3 Bedrooms 50.97
4 Bedrooms 8.13
5 or more bedrooms 2.71