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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Essexville, MI Real Estate Market

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 Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Essexville, MI Housing Market Trends

With a population of 3,324, 1,379 total housing units (homes and apartments), and a median house value of $142,032, house prices in Essexville are some of the most affordable in Michigan as well as the nation.

Single-family detached homes are the single most common housing type in Essexville, accounting for 92.73% of the city's housing units. Other types of housing that are prevalent in Essexville include row houses and other attached homes ( 5.06%), duplexes, homes converted to apartments or other small apartment buildings ( 2.21%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Essexville. Owner-occupied housing accounts for 91.31% of Essexville's homes, and 65.43% have either three or four bedrooms, which is average sized relative to America.

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. Essexville's housing was primarily built during this period, from the '40s through the '60s. A full 61.30% of the city's housing hails from this era. Other housing ages represented in Essexville include homes built before 1939 ( 23.45%) and housing constructed between 1970-1999 ( 11.97%). There's also some housing in Essexville built between 2000 and later ( 3.28%).

Essexville Home Appreciation Rates

Essexville's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Essexville during the period has been just 4.55%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Essexville's appreciation rate, at 6.32%, has been at or slightly above the national average. In the latest quarter, Essexville's appreciation rate has been -0.16%, which annualizes to a rate of -0.63%.

Relative to Michigan, our data show that Essexville's latest annual appreciation rate is lower than 60% of the other cities and towns in Michigan.

Average Home Values

Median Home Value

$142,032

Essexville, MI Home Prices
> $1,216,000
$911,001 - $1,216,000
$608,001 - $911,000
$486,001 - $608,000
$365,001 - $486,000
$243,001 - $365,000
$122,001 - $243,000
$61,001 - $122,000
$0 - $61,000
0.5%
0.5%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.9%
0.9%
8.0%
8.0%
59.4%
59.4%
30.8%
30.8%
0.5%
0.5%
0% 100.0%
% of Homes
Very Low

for Michigan

Very Low

for nation

Number of Homes And Apartments:

1,379

Essexville Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,127 / per month

Homeownership Rate

Owners
Renters
91.3%
91.3%
8.7%
8.7%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
1.7%
1.7%
98.3%
98.3%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
3.3%
3.3%
12.0%
12.0%
61.3%
61.3%
23.4%
23.4%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
92.7%
92.7%
5.1%
5.1%
2.2%
2.2%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.0%
0.0%
1.6%
1.6%
30.6%
30.6%
36.4%
36.4%
29.1%
29.1%
2.4%
2.4%
0% 100.0%
% of Homes

Popular Neighborhoods in Essexville

Zip Codes in Essexville, MI