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 1,408 people, 513 houses or apartments, and a median cost of homes of $247,378, house prices in Hemlock are solidly below the national average.
Single-family detached homes are the single most common housing type in Hemlock, accounting for 81.29% of the town's housing units. Other types of housing that are prevalent in Hemlock include large apartment complexes or high rise apartments ( 13.45%), duplexes, homes converted to apartments or other small apartment buildings ( 2.73%), and a few row houses and other attached homes ( 2.53%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Hemlock. Owner-occupied housing accounts for 77.78% of Hemlock's homes, and 73.88% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Hemlock 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 Hemlock built between 1940-1969 ( 31.58%). A lesser amount of the housing stock also hails from between 2000 and later ( 20.08%). There's also some housing in Hemlock built before 1939 ( 13.84%).
Hemlock's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Hemlock during the period has been just 5.69%, which is lower than 70% of US communities.
Over the last year, Hemlock appreciation rates have trailed the rest of the nation. In the last twelve months, Hemlock's appreciation rate has been 4.64%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Hemlock were at -1.20%, which equates to an annual appreciation rate of -4.70%.
Notably, Hemlock's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Michigan, our data show that Hemlock's latest annual appreciation rate is lower than 70% of the other cities and towns in Michigan.
$247,378
for Michigan
for nation
513
$1,276 / per month