St. Joseph, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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St. Joseph, MI Real Estate Data


St. Joseph Housing Market Information

With 8,286 people, 3,932 houses or apartments, and a median cost of homes of $211,899, St. Joseph real estate is some of the most expensive in Michigan, although St. Joseph home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in St. Joseph, accounting for 61.97% of the city's housing units. Other types of housing that are prevalent in St. Joseph include large apartment complexes or high rise apartments ( 21.90%), duplexes, homes converted to apartments or other small apartment buildings ( 15.09%), and a few row houses and other attached homes ( 1.05%).

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

The housing in St. Joseph was primarily built before 1939 ( 38.85%), making the housing stock in St. Joseph some of the oldest overall in America, although there is a range of ages of homes in St. Joseph. The next most important housing age is between 1940-1969 ( 37.36%), followed by between 1970-1999 ( 17.80%). There's also some housing in St. Joseph built between 2000 and later ( 5.99%).

Vacant housing appears to be an issue in St. Joseph. Fully 17.38% of the housing stock is classified as vacant. Left unchecked, vacant St. Joseph homes and apartments can be a drag on the real estate market, holding St. Joseph real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

St. Joseph Home Appreciation Rates

Real estate appreciation rates in St. Joseph's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 0.02% during the period.

NeighborhoodScout's data show that during the latest twelve months, St. Joseph's appreciation rate, at 5.60%, has been at or slightly above the national average. In the latest quarter, St. Joseph's appreciation rate has been 0.80%, which annualizes to a rate of 3.24%.

Notably, St. Joseph's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Michigan, our data show that St. Joseph's latest annual appreciation rate is higher than 70% of the other cities and towns in Michigan.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within St. Joseph differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in St. Joseph - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best St. Joseph real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$211,899

St. Joseph, MI HOME PRICES

Value Range
> $1,142,000 2.3
$856,001 - $1,142,000 1.8
$571,001 - $856,000 4.5
$457,001 - $571,000 1.2
$342,001 - $457,000 10.5
$229,001 - $342,000 12.5
$114,001 - $229,000 53.1
$57,001 - $114,000 8.5
$0 - $57,000 5.5

Very High for MI
High for Nation

Value Relative to Nation Value Relative to State
30.4034666510511 13.4615384615385

Number Of Homes And Apartments:
3,932

Rent & Ownership

 

Average Market Rent:
$1,069 / per month

Homeownership Rate

Homeownership
Owners 58.46
Renters 41.54
Vacant 17.38

Housing Market Details

 

Age of Homes

AGE OF St. Joseph HOMES
2000 or Newer 6.0
1970 - 1999 17.8
1940 - 1969 37.4
1939 or Older 38.9

Types of Homes

TYPE OF St. Joseph HOMES
Single-Family 62.0
Townhomes 1.1
Small Apt. Buildings 15.1
Apt. Complexes 21.9
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF St. Joseph HOMES
No Bedroom 1.32
1 Bedroom 18.07
2 Bedrooms 36.67
3 Bedrooms 31.06
4 Bedrooms 10.57
5 or more bedrooms 2.31

St. Joseph 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
28.60% 1.49% 9 3
* 10 is highest