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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 4,431, 1,760 total housing units (homes and apartments), and a median house value of $284,357, Mills real estate and house prices are near the national average for all cities and towns.
Single-family detached homes are the single most common housing type in Mills, accounting for 51.38% of the town's housing units. Other types of housing that are prevalent in Mills include mobile homes or trailers ( 39.66%), large apartment complexes or high rise apartments ( 3.61%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.40%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Mills. Owner-occupied housing accounts for 77.31% of Mills's homes, and 60.69% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Mills 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 Mills built between 1940-1969 ( 33.05%). A lesser amount of the housing stock also hails from between 2000 and later ( 26.14%). There's also some housing in Mills built before 1939 ( 6.01%).
Vacant housing appears to be an issue in Mills. Fully 11.87% of the housing stock is classified as vacant. Left unchecked, vacant Mills homes and apartments can be a drag on the real estate market, holding Mills 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.
Mills's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Mills during the period has been just 4.48%, which is lower than 80% of US communities.
Appreciation rates are so strong in Mills that despite a nationwide downturn in the housing market, Mills real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Mills appreciation rates continue to be some of the highest in America, at 10.98%, which is higher than appreciation rates in 97.30% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Mills. Mills appreciation rates in the latest quarter were at 6.53%, which equates to an annual appreciation rate of 28.81%.
Importantly, this makes Mills one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.
Relative to Wyoming, our data show that Mills's latest annual appreciation rate is higher than 90% of the other cities and towns in Wyoming.
$284,357
for Wyoming
for nation
1,760
$1,102 / per month