Schoolcraft, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Schoolcraft, 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

Schoolcraft Housing Market Information

With 1,566 people, 627 houses or apartments, and a median cost of homes of $175,131, Schoolcraft real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Schoolcraft, accounting for 69.35% of the village's housing units. Other types of housing that are prevalent in Schoolcraft include large apartment complexes or high rise apartments ( 15.92%), duplexes, homes converted to apartments or other small apartment buildings ( 9.08%), and a few row houses and other attached homes ( 5.21%).

The most prevalent building size and type in Schoolcraft are three and four bedroom dwellings, chiefly found in single-family detached homes. The village has a mixture of owners and renters, with 64.91% owning and 35.09% renting.

There is a lot of housing in Schoolcraft 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 Schoolcraft built before 1939 ( 35.57%). A lesser amount of the housing stock also hails from between 1940-1969 ( 20.83%).

Schoolcraft Home Appreciation Rates

Appreciation rates for homes in Schoolcraft have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 3.06%, which ranks in the top 50% nationwide. This equates to an annual average Schoolcraft house appreciation rate of 0.30%.

NeighborhoodScout's data show that during the latest twelve months, Schoolcraft's appreciation rate, at 4.18%, has been at or slightly above the national average. In the latest quarter, Schoolcraft's appreciation rate has been 0.23%, which annualizes to a rate of 0.92%.

Relative to Michigan, our data show that Schoolcraft's latest annual appreciation rate is lower than 60% of the other cities and towns in Michigan.

Average Home Values

 

Median Home Value:
$175,131

Schoolcraft, MI HOME PRICES

Value Range
> $1,157,000 0.0
$868,001 - $1,157,000 2.2
$579,001 - $868,000 2.4
$463,001 - $579,000 0.0
$347,001 - $463,000 7.1
$231,001 - $347,000 14.9
$116,001 - $231,000 48.3
$58,001 - $116,000 17.7
$0 - $58,000 7.4

High for MI
High for Nation

Value Relative to Nation Value Relative to State
39.8804640806281 23.8782051282051

Number Of Homes And Apartments:
627

Schoolcraft 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
20.76% 1.10% 8 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$776 / per month

Homeownership Rate

Homeownership
Owners 64.91
Renters 35.09
Vacant 6.70

Housing Market Details

 

Age of Homes

AGE OF Schoolcraft HOMES
2000 or Newer 0.4
1970 - 1999 43.2
1940 - 1969 20.8
1939 or Older 35.6

Types of Homes

TYPE OF Schoolcraft HOMES
Single-Family 69.3
Townhomes 5.2
Small Apt. Buildings 9.1
Apt. Complexes 15.9
Mobile Homes 0.4
Other 0.0

Home Size

SIZE OF Schoolcraft HOMES
No Bedroom 4.17
1 Bedroom 13.54
2 Bedrooms 25.60
3 Bedrooms 39.58
4 Bedrooms 12.95
5 or more bedrooms 4.17

Popular Neighborhoods in Schoolcraft

Zip Codes in Schoolcraft, MI