Merrill, WI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Merrill, WI 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

Merrill Housing Market Information

With a population of 9,233, 4,055 total housing units (homes and apartments), and a median house value of $92,371, house prices in Merrill are some of the most affordable in Wisconsin as well as the nation.

Single-family detached homes are the single most common housing type in Merrill, accounting for 63.59% of the city's housing units. Other types of housing that are prevalent in Merrill include large apartment complexes or high rise apartments ( 19.44%), duplexes, homes converted to apartments or other small apartment buildings ( 14.27%), and a few mobile homes or trailers ( 2.32%).

The most prevalent building size and type in Merrill are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 56.85% owning and 43.15% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Merrill's housing was primarily built during this period, from the '40s through the '60s. A full 33.38% of the city's housing hails from this era. Other housing ages represented in Merrill include homes built before 1939 ( 32.88%) and housing constructed between 1970-1999 ( 25.73%). There's also some housing in Merrill built between 2000 and later ( 8.00%).

Vacant housing appears to be an issue in Merrill. Fully 11.11% of the housing stock is classified as vacant. Left unchecked, vacant Merrill homes and apartments can be a drag on the real estate market, holding Merrill 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.

Merrill Home Appreciation Rates

Merrill's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Merrill during the period has been just -1.30%, which is lower than 70% of US communities.

Over the last year, Merrill appreciation rates have trailed the rest of the nation. In the last twelve months, Merrill's appreciation rate has been 2.87%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Merrill were at 0.52%, which equates to an annual appreciation rate of 2.09%.

Relative to Wisconsin, our data show that Merrill's latest annual appreciation rate is lower than 70% of the other cities and towns in Wisconsin.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Merrill differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Merrill - 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 Merrill real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$92,371

Merrill, WI HOME PRICES

Value Range
> $1,047,000 0.0
$786,001 - $1,047,000 0.0
$524,001 - $786,000 0.0
$419,001 - $524,000 0.8
$314,001 - $419,000 1.6
$209,001 - $314,000 6.5
$105,001 - $209,000 28.9
$53,001 - $105,000 51.8
$0 - $53,000 10.3

Very Low for WI
Very Low for Nation

Value Relative to Nation Value Relative to State
82.4709949607407 98.3572895277207

Number Of Homes And Apartments:
4,055

Merrill Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
WI*
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
0.46% 0.03% 1 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$701 / per month

Homeownership Rate

Homeownership
Owners 56.85
Renters 43.15
Vacant 11.11

Housing Market Details

 

Age of Homes

AGE OF Merrill HOMES
2000 or Newer 8.0
1970 - 1999 25.7
1940 - 1969 33.4
1939 or Older 32.9

Types of Homes

TYPE OF Merrill HOMES
Single-Family 63.6
Townhomes 0.4
Small Apt. Buildings 14.3
Apt. Complexes 19.4
Mobile Homes 2.3
Other 0.0

Home Size

SIZE OF Merrill HOMES
No Bedroom 3.90
1 Bedroom 11.81
2 Bedrooms 28.32
3 Bedrooms 37.53
4 Bedrooms 14.03
5 or more bedrooms 4.41

Popular Communities Near Merrill, WI

Zip Codes in Merrill, WI