Shepherd, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Shepherd, MI Real Estate Data


Shepherd Housing Market Information

With a population of 1,507, 712 total housing units (homes and apartments), and a median house value of $134,082, 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 68.07% of the village's housing units. Other types of housing that are prevalent in Shepherd include duplexes, homes converted to apartments or other small apartment buildings ( 15.14%), large apartment complexes or high rise apartments ( 12.60%), and a few row houses and other attached homes ( 4.20%).

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 66.96% of Shepherd's homes, and 54.33% 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 37.91% of the village's housing hails from this era. Other housing ages represented in Shepherd include homes built between 1970-1999 ( 31.04%) and housing constructed before 1939 ( 23.41%). There's also some housing in Shepherd built between 2000 and later ( 7.63%).

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 -0.37% during the period.

Over the last year, Shepherd appreciation rates have trailed the rest of the nation. In the last twelve months, Shepherd's appreciation rate has been 2.35%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Shepherd were at 1.43%, which equates to an annual appreciation rate of 5.84%.

Relative to Michigan, our data show that Shepherd's latest annual appreciation rate is lower than 90% of the other cities and towns in Michigan.

Average Home Values

 

Median Home Value:
$134,082

Shepherd, MI HOME PRICES

Value Range
> $1,087,000 0.6
$816,001 - $1,087,000 0.2
$544,001 - $816,000 2.9
$435,001 - $544,000 0.0
$327,001 - $435,000 0.8
$217,001 - $327,000 8.4
$109,001 - $217,000 50.0
$54,001 - $109,000 30.7
$0 - $54,000 6.5

Average for MI
Average for Nation

Value Relative to Nation Value Relative to State
58.6344205656731 46.9551282051282

Number Of Homes And Apartments:
712

Rent & Ownership

 

Average Market Rent:
$604 / per month

Homeownership Rate

Homeownership
Owners 66.96
Renters 33.04
Vacant 9.41

Housing Market Details

 

Age of Homes

AGE OF Shepherd HOMES
2000 or Newer 7.6
1970 - 1999 31.0
1940 - 1969 37.9
1939 or Older 23.4

Types of Homes

TYPE OF Shepherd HOMES
Single-Family 68.1
Townhomes 4.2
Small Apt. Buildings 15.1
Apt. Complexes 12.6
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Shepherd HOMES
No Bedroom 1.02
1 Bedroom 12.34
2 Bedrooms 29.64
3 Bedrooms 34.73
4 Bedrooms 19.59
5 or more bedrooms 2.67

Shepherd Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
22.47% 1.20% 8 2
* 10 is highest