Saginaw, 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 Q1 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

Saginaw, MI Housing Market Trends

With a population of 48,115, 19,689 total housing units (homes and apartments), and a median house value of $42,094, house prices in Saginaw 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 Saginaw, accounting for 76.19% of the city's housing units. Other types of housing that are prevalent in Saginaw include duplexes, homes converted to apartments or other small apartment buildings ( 11.97%), large apartment complexes or high rise apartments ( 9.32%), and a few row houses and other attached homes ( 1.94%).

The most prevalent building size and type in Saginaw are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 54.65% owning and 45.35% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Saginaw's housing was primarily built during this period, from the '40s through the '60s. A full 44.27% of the city's housing hails from this era. Other housing ages represented in Saginaw include homes built before 1939 ( 40.71%) and housing constructed between 1970-1999 ( 12.46%). There's also some housing in Saginaw built between 2000 and later ( 2.56%).

Vacant housing appears to be an issue in Saginaw. Fully 16.90% of the housing stock is classified as vacant. Left unchecked, vacant Saginaw homes and apartments can be a drag on the real estate market, holding Saginaw 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.

Saginaw Home Appreciation Rates

Appreciation rates for homes in Saginaw have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 38.86%, which ranks in the top 50% nationwide. This equates to an annual average Saginaw house appreciation rate of 3.34%.

NeighborhoodScout's data show that during the latest twelve months, Saginaw's appreciation rate, at 6.65%, has been at or slightly above the national average. In the latest quarter, Saginaw's appreciation rate has been 1.40%, which annualizes to a rate of 5.71%.

Relative to Michigan, our data show that Saginaw's latest annual appreciation rate is higher than 50% 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 Saginaw differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Saginaw - 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 Saginaw real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$42,094

Saginaw, MI HOME PRICES

> $1,321,000
0.0%
0.0%
$991,001 - $1,321,000
0.1%
0.1%
$660,001 - $991,000
0.1%
0.1%
$528,001 - $660,000
0.4%
0.4%
$397,001 - $528,000
0.4%
0.4%
$264,001 - $397,000
1.3%
1.3%
$132,001 - $264,000
5.0%
5.0%
$66,001 - $132,000
25.9%
25.9%
$0 - $66,000
66.8%
66.8%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very Low for Nation

Very Low for MI

Value Relative To Nation

Number Of Homes And Apartments:
19,689

Saginaw Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
2020 Q4 - 2021 Q1
Last 12 Months:
2020 Q1 - 2021 Q1
Last 2 Years:
2019 Q1 - 2021 Q1
Last 5 Years:
2016 Q1 - 2021 Q1
Last 10 Years:
2011 Q1 - 2021 Q1
Since 2000:
2000 Q1 - 2021 Q1
-4.28% -0.21%
1
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$974 / per month

Homeownership Rate

Owners
54.6%
54.6%
Renters
45.4%
45.4%
Vacant
16.9%
16.9%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
2.6%
2.6%
1970 - 1999
12.5%
12.5%
1940 - 1969
44.3%
44.3%
1939 or Older
40.7%
40.7%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
76.2%
76.2%
Townhomes
1.9%
1.9%
Small Apt. Buildings
12.0%
12.0%
Apt. Complexes
9.3%
9.3%
Mobile Homes
0.5%
0.5%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.6%
1.6%
1 Bedroom
11.5%
11.5%
2 Bedrooms
31.7%
31.7%
3 Bedrooms
41.6%
41.6%
4 Bedrooms
10.8%
10.8%
5 or more bedrooms
2.8%
2.8%
0.0% 100.0%
% OF HOMES