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 4,659 people, 2,030 houses or apartments, and a median cost of homes of $197,821, house prices in Negaunee are solidly below the national average.
Single-family detached homes are the single most common housing type in Negaunee, accounting for 83.17% of the city's housing units. Other types of housing that are prevalent in Negaunee include large apartment complexes or high rise apartments ( 11.81%), duplexes, homes converted to apartments or other small apartment buildings ( 4.21%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Negaunee. Owner-occupied housing accounts for 78.53% of Negaunee's homes, and 57.07% have either three or four bedrooms, which is average sized relative to America.
The housing in Negaunee was primarily built before 1939 ( 39.10%), making the housing stock in Negaunee some of the oldest overall in America, although there is a range of ages of homes in Negaunee. The next most important housing age is between 1940-1969 ( 32.55%), followed by between 1970-1999 ( 19.69%). There's also some housing in Negaunee built between 2000 and later ( 8.65%).
Appreciation rates for homes in Negaunee have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 96.04%, which ranks in the top 40% nationwide. This equates to an annual average Negaunee house appreciation rate of 6.96%.
Appreciation rates are so strong in Negaunee that despite a nationwide downturn in the housing market, Negaunee real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Negaunee appreciation rates continue to be some of the highest in America, at 11.65%, which is higher than appreciation rates in 92.84% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Negaunee. Negaunee 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 Negaunee's latest annual appreciation rate is higher than 90% of the other cities and towns in Michigan.
$197,821
for Michigan
for nation
2,030
$1,219 / per month