West Branch, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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West Branch, MI Real Estate Data


West Branch Housing Market Information

With a population of 2,067, 963 total housing units (homes and apartments), and a median house value of $107,819, house prices in West Branch are solidly below the national average.

Single-family detached homes are the single most common housing type in West Branch, accounting for 50.51% of the city's housing units. Other types of housing that are prevalent in West Branch include large apartment complexes or high rise apartments ( 33.06%), duplexes, homes converted to apartments or other small apartment buildings ( 11.36%), and a few row houses and other attached homes ( 2.95%).

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

There is a lot of housing in West Branch 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 West Branch built between 1940-1969 ( 26.96%). A lesser amount of the housing stock also hails from before 1939 ( 20.31%). There's also some housing in West Branch built between 2000 and later ( 15.97%).

Vacant housing appears to be an issue in West Branch. Fully 11.08% of the housing stock is classified as vacant. Left unchecked, vacant West Branch homes and apartments can be a drag on the real estate market, holding West Branch 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.

West Branch Home Appreciation Rates

West Branch's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in West Branch during the period has been just -1.77%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, West Branch's appreciation rate, at 4.59%, has been at or slightly above the national average. In the latest quarter, West Branch's appreciation rate has been 1.43%, which annualizes to a rate of 5.84%.

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

Average Home Values

 

Median Home Value:
$107,819

West Branch, MI HOME PRICES

Value Range
> $1,129,000 0.5
$847,001 - $1,129,000 0.0
$564,001 - $847,000 0.8
$451,001 - $564,000 0.7
$338,001 - $451,000 2.1
$226,001 - $338,000 7.2
$113,001 - $226,000 30.9
$56,001 - $113,000 45.6
$0 - $56,000 12.1

Low for MI
Low for Nation

Value Relative to Nation Value Relative to State
73.7834514258945 70.6730769230769

Number Of Homes And Apartments:
963

Rent & Ownership

 

Average Market Rent:
$759 / per month

Homeownership Rate

Homeownership
Owners 40.08
Renters 59.92
Vacant 11.08

Housing Market Details

 

Age of Homes

AGE OF West Branch HOMES
2000 or Newer 16.0
1970 - 1999 36.7
1940 - 1969 27.0
1939 or Older 20.3

Types of Homes

TYPE OF West Branch HOMES
Single-Family 50.5
Townhomes 3.0
Small Apt. Buildings 11.4
Apt. Complexes 33.1
Mobile Homes 2.1
Other 0.0

Home Size

SIZE OF West Branch HOMES
No Bedroom 5.17
1 Bedroom 24.10
2 Bedrooms 30.19
3 Bedrooms 23.45
4 Bedrooms 14.40
5 or more bedrooms 2.68

West Branch 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
-1.44% -0.09% 3 1
* 10 is highest

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Zip Codes in West Branch, MI