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 2,877 people, 1,444 houses or apartments, and a median cost of homes of $103,724, house prices in Manistique 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 Manistique, accounting for 70.54% of the city's housing units. Other types of housing that are prevalent in Manistique include large apartment complexes or high rise apartments ( 15.59%), duplexes, homes converted to apartments or other small apartment buildings ( 7.74%), and a few mobile homes or trailers ( 3.59%).
Dwellings in Manistique tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 50.06% of the homes in Manistique have two or fewer bedrooms.
The housing in Manistique was primarily built before 1939 ( 41.52%), making the housing stock in Manistique some of the oldest overall in America, although there is a range of ages of homes in Manistique. The next most important housing age is between 1940-1969 ( 33.85%), followed by between 1970-1999 ( 22.71%). There's also some housing in Manistique built between 2000 and later ( 1.92%).
Vacant housing appears to be an issue in Manistique. Fully 10.64% of the housing stock is classified as vacant. Left unchecked, vacant Manistique homes and apartments can be a drag on the real estate market, holding Manistique 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.
Manistique's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Manistique during the period has been just 4.69%, which is lower than 80% of US communities.
Appreciation rates are so strong in Manistique that despite a nationwide downturn in the housing market, Manistique real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Manistique appreciation rates continue to be some of the highest in America, at 10.44%, which is higher than appreciation rates in 89.17% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Manistique. Manistique 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 Manistique's latest annual appreciation rate is higher than 90% of the other cities and towns in Michigan.
$103,724
for Michigan
for nation
1,444
$1,058 / per month