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 1,510 people, 506 houses or apartments, and a median cost of homes of $232,300, house prices in Shepherd are solidly below the national average.
Single-family detached homes are the single most common housing type in Shepherd, accounting for 76.29% of the village's housing units. Other types of housing that are prevalent in Shepherd include duplexes, homes converted to apartments or other small apartment buildings ( 16.93%), row houses and other attached homes ( 3.57%), and a few large apartment complexes or high rise apartments ( 3.03%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Shepherd. Owner-occupied housing accounts for 71.04% of Shepherd's homes, and 61.68% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Shepherd 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 Shepherd built between 1940-1969 ( 27.63%). A lesser amount of the housing stock also hails from before 1939 ( 27.45%). There's also some housing in Shepherd built between 2000 and later ( 7.31%).
Appreciation rates for homes in Shepherd have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 90.40%, which ranks in the top 50% nationwide. This equates to an annual average Shepherd house appreciation rate of 6.65%.
NeighborhoodScout's data show that during the latest twelve months, Shepherd's appreciation rate, at 5.72%, has been at or slightly above the national average. In the latest quarter, Shepherd's appreciation rate has been 0.88%, which annualizes to a rate of 3.56%.
Relative to Michigan, our data show that Shepherd's latest annual appreciation rate is lower than 50% of the other cities and towns in Michigan.
$232,300
for Michigan
for nation
506
$1,390 / per month