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 654, 373 total housing units (homes and apartments), and a median house value of $249,707, house prices in Caseville are solidly below the national average.
Single-family detached homes are the single most common housing type in Caseville, accounting for 79.90% of the city's housing units. Other types of housing that are prevalent in Caseville include large apartment complexes or high rise apartments ( 10.74%), mobile homes or trailers ( 5.62%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.25%).
Dwellings in Caseville tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 49.94% of the homes in Caseville have two or fewer bedrooms.
There is a lot of housing in Caseville 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 Caseville built between 1940-1969 ( 40.57%). A lesser amount of the housing stock also hails from between 2000 and later ( 10.24%). There's also some housing in Caseville built before 1939 ( 7.49%).
A decent proportion of the Caseville housing stock is seasonally occupied. That is, homes and condos in Caseville are occupied by people for a portion of the year - mainly for vacation purposes - and then locked up and left unoccupied for the remainder of the year as owners return to their primary residences. This characteristic of the Caseville housing market speaks to its popularity as a vacation location of choice.
Appreciation rates for homes in Caseville have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 107.17%, which ranks in the top 30% nationwide. This equates to an annual average Caseville house appreciation rate of 7.56%.
Appreciation rates are so strong in Caseville that despite a nationwide downturn in the housing market, Caseville real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Caseville appreciation rates continue to be some of the highest in America, at 10.15%, which is higher than appreciation rates in 88.01% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Caseville. Caseville appreciation rates in the latest quarter were at 0.88%, which equates to an annual appreciation rate of 3.56%.
Relative to Michigan, our data show that Caseville's latest annual appreciation rate is higher than 80% of the other cities and towns in Michigan.
$249,707
for Michigan
for nation
373
$892 / per month