Sparta, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Sparta Neighborhoods Since 2000




Sparta, 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

Sparta Housing Market Information

With 4,311 people, 1,698 houses or apartments, and a median cost of homes of $133,054, house prices in Sparta are solidly below the national average.

Single-family detached homes are the single most common housing type in Sparta, accounting for 60.83% of the village's housing units. Other types of housing that are prevalent in Sparta include large apartment complexes or high rise apartments ( 24.00%), duplexes, homes converted to apartments or other small apartment buildings ( 10.99%), and a few row houses and other attached homes ( 4.19%).

People in Sparta primarily live in small (one, two or no bedroom) single-family detached homes. Sparta has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Sparta 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 Sparta built between 1940-1969 ( 31.53%). A lesser amount of the housing stock also hails from before 1939 ( 20.98%). There's also some housing in Sparta built between 2000 and later ( 7.37%).

Sparta Home Appreciation Rates

Appreciation rates for homes in Sparta have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 8.11%, which ranks in the top 40% nationwide. This equates to an annual average Sparta house appreciation rate of 0.78%.

Appreciation rates are so strong in Sparta that despite a nationwide downturn in the housing market, Sparta real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Sparta appreciation rates continue to be some of the highest in America, at 10.28%, which is higher than appreciation rates in 94.55% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Sparta. Sparta appreciation rates in the latest quarter were at 3.68%, which equates to an annual appreciation rate of 15.57%.

Importantly, this makes Sparta one of the highest appreciating communities in the nation for the latest quarter, and may signal the village's near-future real estate investment strength.

Relative to Michigan, our data show that Sparta's latest annual appreciation rate is higher than 80% of the other cities and towns in Michigan.

Average Home Values

 

Median Home Value:
$133,054

Sparta, MI HOME PRICES

Value Range
> $1,281,000 0.2
$961,001 - $1,281,000 0.0
$640,001 - $961,000 0.0
$512,001 - $640,000 0.1
$384,001 - $512,000 0.2
$256,001 - $384,000 1.7
$128,001 - $256,000 55.8
$64,001 - $128,000 35.8
$0 - $64,000 6.3

Average for MI
Average for Nation

Value Relative to Nation Value Relative to State
58.2532520801594 47.275641025641

Number Of Homes And Apartments:
1,698

Sparta 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
25.79% 1.34% 9 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$829 / per month

Homeownership Rate

Homeownership
Owners 60.75
Renters 39.25
Vacant 5.25

Housing Market Details

 

Age of Homes

AGE OF Sparta HOMES
2000 or Newer 7.4
1970 - 1999 40.1
1940 - 1969 31.5
1939 or Older 21.0

Types of Homes

TYPE OF Sparta HOMES
Single-Family 60.8
Townhomes 4.2
Small Apt. Buildings 11.0
Apt. Complexes 24.0
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Sparta HOMES
No Bedroom 2.18
1 Bedroom 12.00
2 Bedrooms 39.17
3 Bedrooms 32.65
4 Bedrooms 11.61
5 or more bedrooms 2.40