Smiths Creek, MI Real Estate Market

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 Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Smiths Creek, MI Housing Market Trends

With a population of 9,225, 1,813 total housing units (homes and apartments), and a median house value of $153,680, house prices in Smiths Creek are solidly below the national average.

Single-family detached homes are the single most common housing type in Smiths Creek, accounting for 82.40% of the town's housing units. Other types of housing that are prevalent in Smiths Creek include mobile homes or trailers ( 13.25%), row houses and other attached homes ( 2.75%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.60%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Smiths Creek. Owner-occupied housing accounts for 90.36% of Smiths Creek's homes, and 75.99% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Smiths Creek 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 Smiths Creek built between 1940-1969 ( 23.61%). A lesser amount of the housing stock also hails from between 2000 and later ( 22.20%). There's also some housing in Smiths Creek built before 1939 ( 6.60%).

Smiths Creek Home Appreciation Rates

In the last 10 years, Smiths Creek has experienced some of the highest home appreciation rates of any community in the nation. Smiths Creek real estate appreciated 76.33% over the last ten years, which is an average annual home appreciation rate of 5.84%, putting Smiths Creek in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Smiths Creek definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Smiths Creek's appreciation rate, at 9.72%, has been at or slightly above the national average. In the latest quarter, Smiths Creek's appreciation rate has been 2.94%, which annualizes to a rate of 12.29%.

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

Average Home Values

 

Median Home Value:
$153,680

Smiths Creek, MI HOME PRICES

> $1,260,000
1.4%
1.4%
$945,001 - $1,260,000
0.0%
0.0%
$630,001 - $945,000
0.1%
0.1%
$504,001 - $630,000
0.4%
0.4%
$378,001 - $504,000
4.4%
4.4%
$252,001 - $378,000
11.9%
11.9%
$126,001 - $252,000
49.2%
49.2%
$63,001 - $126,000
19.5%
19.5%
$0 - $63,000
13.0%
13.0%
0.0% 100.0%
% OF HOMES
Value Relative To State

Low for Nation

Average for MI

Value Relative To Nation

Number Of Homes And Apartments:
1,813

Smiths Creek Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
30.13% 1.23%
3
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,198 / per month

Homeownership Rate

Owners
90.4%
90.4%
Renters
9.6%
9.6%
Vacant
3.2%
3.2%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
22.2%
22.2%
1970 - 1999
47.6%
47.6%
1940 - 1969
23.6%
23.6%
1939 or Older
6.6%
6.6%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
82.4%
82.4%
Townhomes
2.8%
2.8%
Small Apt. Buildings
1.6%
1.6%
Apt. Complexes
0.0%
0.0%
Mobile Homes
13.2%
13.2%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.3%
0.3%
1 Bedroom
1.8%
1.8%
2 Bedrooms
17.4%
17.4%
3 Bedrooms
63.4%
63.4%
4 Bedrooms
12.6%
12.6%
5 or more bedrooms
4.4%
4.4%
0.0% 100.0%
% OF HOMES

Popular Neighborhoods in Smiths Creek

Zip Codes in Smiths Creek, MI