Midland, 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 2020. 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

Midland, MI Housing Market Trends

With 41,701 people, 17,665 houses or apartments, and a median cost of homes of $170,215, Midland real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Midland, accounting for 66.76% of the city's housing units. Other types of housing that are prevalent in Midland include large apartment complexes or high rise apartments ( 19.85%), duplexes, homes converted to apartments or other small apartment buildings ( 5.92%), and a few row houses and other attached homes ( 4.58%).

The most prevalent building size and type in Midland are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 63.45% owning and 36.55% renting.

There is a lot of housing in Midland 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 Midland built between 1940-1969 ( 38.58%). A lesser amount of the housing stock also hails from between 2000 and later ( 9.63%). There's also some housing in Midland built before 1939 ( 7.72%).

Midland Home Appreciation Rates

Midland's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Midland during the period has been just 1.80%, which is lower than 70% of US communities.

Appreciation rates are so strong in Midland that despite a nationwide downturn in the housing market, Midland real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Midland appreciation rates continue to be some of the highest in America, at 6.50%, which is higher than appreciation rates in 74.65% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Midland. Midland appreciation rates in the latest quarter were at 3.26%, which equates to an annual appreciation rate of 13.67%.

Importantly, NeighborhoodScout’s exclusive research found that Midland's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which may signal the city’s near-future real estate investment strength.

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

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Midland differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Midland - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Midland real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$170,215

Midland, MI HOME PRICES

> $1,154,000
0.5%
0.5%
$866,001 - $1,154,000
0.1%
0.1%
$577,001 - $866,000
1.2%
1.2%
$462,001 - $577,000
2.6%
2.6%
$346,001 - $462,000
5.2%
5.2%
$231,001 - $346,000
16.7%
16.7%
$116,001 - $231,000
47.3%
47.3%
$58,001 - $116,000
22.7%
22.7%
$0 - $58,000
3.8%
3.8%
0.0% 100.0%
% OF HOMES
Value Relative To State

Average for Nation

Average for MI

Value Relative To Nation

Number Of Homes And Apartments:
17,665

Midland Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
21.32% 0.92%
3
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$983 / per month

Homeownership Rate

Owners
63.4%
63.4%
Renters
36.6%
36.6%
Vacant
6.0%
6.0%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
9.6%
9.6%
1970 - 1999
44.1%
44.1%
1940 - 1969
38.6%
38.6%
1939 or Older
7.7%
7.7%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
66.8%
66.8%
Townhomes
4.6%
4.6%
Small Apt. Buildings
5.9%
5.9%
Apt. Complexes
19.9%
19.9%
Mobile Homes
2.9%
2.9%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.9%
0.9%
1 Bedroom
12.1%
12.1%
2 Bedrooms
23.7%
23.7%
3 Bedrooms
37.0%
37.0%
4 Bedrooms
20.9%
20.9%
5 or more bedrooms
5.4%
5.4%
0.0% 100.0%
% OF HOMES