Hastings, 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 Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

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

Hastings, MI Housing Market Trends

With 7,310 people, 3,015 houses or apartments, and a median cost of homes of $156,055, house prices in Hastings are solidly below the national average.

Single-family detached homes are the single most common housing type in Hastings, accounting for 73.56% of the city's housing units. Other types of housing that are prevalent in Hastings include large apartment complexes or high rise apartments ( 10.56%), duplexes, homes converted to apartments or other small apartment buildings ( 8.22%), and a few row houses and other attached homes ( 3.96%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Hastings. Owner-occupied housing accounts for 66.38% of Hastings's homes, and 57.96% have either three or four bedrooms, which is average sized relative to America.

The housing in Hastings was primarily built before 1939 ( 33.79%), making the housing stock in Hastings some of the oldest overall in America, although there is a range of ages of homes in Hastings. The next most important housing age is between 1940-1969 ( 30.49%), followed by between 1970-1999 ( 25.32%). There's also some housing in Hastings built between 2000 and later ( 10.40%).

Hastings Home Appreciation Rates

In the last 10 years, Hastings has experienced some of the highest home appreciation rates of any community in the nation. Hastings real estate appreciated 67.71% over the last ten years, which is an average annual home appreciation rate of 5.31%, putting Hastings in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Hastings definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Hastings that despite a nationwide downturn in the housing market, Hastings real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Hastings appreciation rates continue to be some of the highest in America, at 11.64%, which is higher than appreciation rates in 81.48% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Hastings. Hastings appreciation rates in the latest quarter were at 3.31%, which equates to an annual appreciation rate of 13.93%.

Relative to Michigan, our data show that Hastings's latest annual appreciation rate is higher than 80% of the other cities and towns in Michigan.

Average Home Values

 

Median Home Value:
$156,055

Hastings, MI HOME PRICES

> $1,271,000
0.0%
0.0%
$953,001 - $1,271,000
0.3%
0.3%
$635,001 - $953,000
0.8%
0.8%
$508,001 - $635,000
2.4%
2.4%
$381,001 - $508,000
3.1%
3.1%
$254,001 - $381,000
13.5%
13.5%
$127,001 - $254,000
50.4%
50.4%
$64,001 - $127,000
20.1%
20.1%
$0 - $64,000
9.4%
9.4%
0.0% 100.0%
% OF HOMES
Value Relative To State

Low for Nation

Average for MI

Value Relative To Nation

Number Of Homes And Apartments:
3,015

Hastings Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
46.46% 1.79%
6
2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,263 / per month

Homeownership Rate

Owners
66.4%
66.4%
Renters
33.6%
33.6%
Vacant
6.1%
6.1%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
10.4%
10.4%
1970 - 1999
25.3%
25.3%
1940 - 1969
30.5%
30.5%
1939 or Older
33.8%
33.8%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
73.6%
73.6%
Townhomes
4.0%
4.0%
Small Apt. Buildings
8.2%
8.2%
Apt. Complexes
10.6%
10.6%
Mobile Homes
3.7%
3.7%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.4%
1.4%
1 Bedroom
6.1%
6.1%
2 Bedrooms
30.8%
30.8%
3 Bedrooms
39.0%
39.0%
4 Bedrooms
19.0%
19.0%
5 or more bedrooms
3.7%
3.7%
0.0% 100.0%
% OF HOMES

Popular Neighborhoods in Hastings

Zip Codes in Hastings, MI