Mason, 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

Mason, MI Housing Market Trends

With 8,458 people, 3,436 houses or apartments, and a median cost of homes of $157,412, house prices in Mason are solidly below the national average.

Single-family detached homes are the single most common housing type in Mason, accounting for 56.64% of the city's housing units. Other types of housing that are prevalent in Mason include large apartment complexes or high rise apartments ( 23.35%), mobile homes or trailers ( 9.10%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.84%).

The most prevalent building size and type in Mason are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 62.56% owning and 37.44% renting.

There is a lot of housing in Mason 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 Mason built between 1940-1969 ( 27.28%). A lesser amount of the housing stock also hails from between 2000 and later ( 23.88%). There's also some housing in Mason built before 1939 ( 19.09%).

Mason Home Appreciation Rates

Appreciation rates for homes in Mason have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 48.08%, which ranks in the top 40% nationwide. This equates to an annual average Mason house appreciation rate of 4.00%.

Over the last year, Mason appreciation rates have trailed the rest of the nation. In the last twelve months, Mason's appreciation rate has been 6.77%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Mason were at 2.78%, which equates to an annual appreciation rate of 11.60%.

Relative to Michigan, our data show that Mason's latest annual appreciation rate is lower than 90% of the other cities and towns in Michigan.

Average Home Values

 

Median Home Value:
$157,412

Mason, MI HOME PRICES

> $1,189,000
0.0%
0.0%
$892,001 - $1,189,000
0.0%
0.0%
$595,001 - $892,000
0.4%
0.4%
$476,001 - $595,000
0.3%
0.3%
$357,001 - $476,000
8.6%
8.6%
$238,001 - $357,000
9.7%
9.7%
$119,001 - $238,000
51.4%
51.4%
$59,001 - $119,000
18.1%
18.1%
$0 - $59,000
11.4%
11.4%
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:
3,436

Mason 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
25.14% 1.05%
3
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,189 / per month

Homeownership Rate

Owners
62.6%
62.6%
Renters
37.4%
37.4%
Vacant
4.9%
4.9%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
23.9%
23.9%
1970 - 1999
29.7%
29.7%
1940 - 1969
27.3%
27.3%
1939 or Older
19.1%
19.1%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
56.6%
56.6%
Townhomes
5.1%
5.1%
Small Apt. Buildings
5.8%
5.8%
Apt. Complexes
23.4%
23.4%
Mobile Homes
9.1%
9.1%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.6%
0.6%
1 Bedroom
5.3%
5.3%
2 Bedrooms
30.0%
30.0%
3 Bedrooms
43.2%
43.2%
4 Bedrooms
16.6%
16.6%
5 or more bedrooms
4.2%
4.2%
0.0% 100.0%
% OF HOMES