Shepherd, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Shepherd Neighborhoods Since 2000




Shepherd, 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

Shepherd Housing Market Information

With a population of 1,507, 695 total housing units (homes and apartments), and a median house value of $137,547, house prices in Shepherd are solidly below the national average.

Single-family detached homes are the single most common housing type in Shepherd, accounting for 68.98% of the village's housing units. Other types of housing that are prevalent in Shepherd include large apartment complexes or high rise apartments ( 14.71%), duplexes, homes converted to apartments or other small apartment buildings ( 12.97%), and a few row houses and other attached homes ( 3.21%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Shepherd. Owner-occupied housing accounts for 67.26% of Shepherd's homes, and 55.08% have either three or four bedrooms, which is average sized relative to America.

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. Shepherd's housing was primarily built during this period, from the '40s through the '60s. A full 36.90% of the village's housing hails from this era. Other housing ages represented in Shepherd include homes built between 1970-1999 ( 31.68%) and housing constructed before 1939 ( 23.13%). There's also some housing in Shepherd built between 2000 and later ( 8.29%).

Shepherd Home Appreciation Rates

Real estate appreciation rates in Shepherd's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.11% during the period.

Appreciation rates are so strong in Shepherd that despite a nationwide downturn in the housing market, Shepherd real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Shepherd appreciation rates continue to be some of the highest in America, at 6.30%, which is higher than appreciation rates in 76.46% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Shepherd. Shepherd appreciation rates in the latest quarter were at 0.00%, which equates to an annual appreciation rate of 0.00%.

Relative to Michigan, our data show that Shepherd's latest annual appreciation rate is higher than 50% of the other cities and towns in Michigan.

Average Home Values

 

Median Home Value:
$137,547

Shepherd, MI HOME PRICES

Value Range
> $1,099,000 1.1
$824,001 - $1,099,000 0.0
$549,001 - $824,000 2.8
$439,001 - $549,000 0.0
$330,001 - $439,000 1.6
$220,001 - $330,000 8.8
$110,001 - $220,000 52.3
$55,001 - $110,000 26.8
$0 - $55,000 6.5

Average for MI
Average for Nation

Value Relative to Nation Value Relative to State
55.9826555724833 44.7115384615385

Number Of Homes And Apartments:
695

Shepherd 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
24.08% 1.26% 8 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$774 / per month

Homeownership Rate

Homeownership
Owners 67.26
Renters 32.74
Vacant 7.09

Housing Market Details

 

Age of Homes

AGE OF Shepherd HOMES
2000 or Newer 8.3
1970 - 1999 31.7
1940 - 1969 36.9
1939 or Older 23.1

Types of Homes

TYPE OF Shepherd HOMES
Single-Family 69.0
Townhomes 3.2
Small Apt. Buildings 13.0
Apt. Complexes 14.7
Mobile Homes 0.1
Other 0.0

Home Size

SIZE OF Shepherd HOMES
No Bedroom 1.07
1 Bedroom 12.17
2 Bedrooms 28.07
3 Bedrooms 36.36
4 Bedrooms 18.72
5 or more bedrooms 3.61