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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Three Rivers, 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 Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

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

Three Rivers, MI Housing Market Trends

With 7,905 people, 3,173 houses or apartments, and a median cost of homes of $168,181, house prices in Three Rivers are solidly below the national average.

Single-family detached homes are the single most common housing type in Three Rivers, accounting for 62.48% of the city's housing units. Other types of housing that are prevalent in Three Rivers include large apartment complexes or high rise apartments ( 28.09%), duplexes, homes converted to apartments or other small apartment buildings ( 4.59%), and a few mobile homes or trailers ( 3.64%).

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

The housing in Three Rivers was primarily built before 1939 ( 36.92%), making the housing stock in Three Rivers some of the oldest overall in America, although there is a range of ages of homes in Three Rivers. The next most important housing age is between 1970-1999 ( 28.00%), followed by between 1940-1969 ( 23.42%). There's also some housing in Three Rivers built between 2000 and later ( 11.67%).

Three Rivers Home Appreciation Rates

Appreciation rates for homes in Three Rivers have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 85.03%, which ranks in the top 50% nationwide. This equates to an annual average Three Rivers house appreciation rate of 6.35%.

Appreciation rates are so strong in Three Rivers that despite a nationwide downturn in the housing market, Three Rivers real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Three Rivers appreciation rates continue to be some of the highest in America, at 7.90%, which is higher than appreciation rates in 85.30% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Three Rivers. Three Rivers appreciation rates in the latest quarter were at 2.30%, which equates to an annual appreciation rate of 9.51%.

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

Relative to Michigan, our data show that Three Rivers's latest annual appreciation rate is higher than 60% 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 Three Rivers differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Three Rivers - 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 Three Rivers real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$168,181

Three Rivers, MI Home Prices
> $1,297,000
$973,001 - $1,297,000
$648,001 - $973,000
$519,001 - $648,000
$389,001 - $519,000
$260,001 - $389,000
$130,001 - $260,000
$65,001 - $130,000
$0 - $65,000
0.0%
0.0%
0.0%
0.0%
0.9%
0.9%
1.5%
1.5%
2.9%
2.9%
11.2%
11.2%
44.7%
44.7%
30.0%
30.0%
8.8%
8.8%
0% 100.0%
% of Homes
Low

for Michigan

Low

for nation

Number of Homes And Apartments:

3,173

Three Rivers Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,279 / per month

Homeownership Rate

Owners
Renters
49.2%
49.2%
50.8%
50.8%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
9.1%
9.1%
90.9%
90.9%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
11.7%
11.7%
28.0%
28.0%
23.4%
23.4%
36.9%
36.9%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
62.5%
62.5%
1.2%
1.2%
4.6%
4.6%
28.1%
28.1%
3.6%
3.6%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
2.4%
2.4%
19.6%
19.6%
25.3%
25.3%
32.8%
32.8%
13.0%
13.0%
6.9%
6.9%
0% 100.0%
% of Homes