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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 473, 222 total housing units (homes and apartments), and a median house value of $237,975, house prices in Sand Lake are solidly below the national average.
Single-family detached homes are the single most common housing type in Sand Lake, accounting for 56.44% of the village's housing units. Other types of housing that are prevalent in Sand Lake include large apartment complexes or high rise apartments ( 38.67%), mobile homes or trailers ( 3.11%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.78%).
People in Sand Lake primarily live in small (one, two or no bedroom) single-family detached homes. Sand Lake has a mixture of owner-occupied and renter-occupied housing.
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. Sand Lake's housing was primarily built during this period, from the '40s through the '60s. A full 50.67% of the village's housing hails from this era. Other housing ages represented in Sand Lake include homes built between 1970-1999 ( 27.11%) and housing constructed before 1939 ( 15.11%). There's also some housing in Sand Lake built between 2000 and later ( 7.11%).
Appreciation rates for homes in Sand Lake have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 108.49%, which ranks in the top 30% nationwide. This equates to an annual average Sand Lake house appreciation rate of 7.62%.
Appreciation rates are so strong in Sand Lake that despite a nationwide downturn in the housing market, Sand Lake real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Sand Lake appreciation rates continue to be some of the highest in America, at 6.66%, which is higher than appreciation rates in 70.30% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Sand Lake. Sand Lake appreciation rates in the latest quarter were at -1.60%, which equates to an annual appreciation rate of -6.24%.
Notably, Sand Lake's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Michigan, our data show that Sand Lake's latest annual appreciation rate is lower than 50% of the other cities and towns in Michigan.
$237,975
for Michigan
for nation
222
$960 / per month