Route 31 / 4 Mile Rd N median real estate price is $137,211, which is more expensive than 54.4% of the neighborhoods in Michigan and 32.9% of the neighborhoods in the U.S.
The average rental price in Route 31 / 4 Mile Rd N is currently $842, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 64.2% of Michigan neighborhoods.
Route 31 / 4 Mile Rd N is a suburban neighborhood (based on population density) located in Traverse City, Michigan.
Route 31 / 4 Mile Rd N real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is owner occupied. Many of the residences in the Route 31 / 4 Mile Rd N neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.
Vacant apartments or homes are a major fact of life in Route 31 / 4 Mile Rd N. The current real estate vacancy rate here is 20.8%. This is higher than the rate of vacancies in 86.4% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (12.6%). This can occur in vacation areas, and occasionally it is also found in neighborhoods that are primarily filled with college students, as some apartments could be vacant when school is not in session. If you live here year round, you may find that a number of buildings in your neighborhood are actually empty.