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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Stevensville, 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 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Stevensville, MI Housing Market Trends

With 1,144 people, 537 houses or apartments, and a median cost of homes of $440,382, Stevensville real estate is some of the most expensive in Michigan, although Stevensville home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Stevensville, accounting for 50.17% of the village's housing units. Other types of housing that are prevalent in Stevensville include duplexes, homes converted to apartments or other small apartment buildings ( 18.83%), large apartment complexes or high rise apartments ( 15.67%), and a few mobile homes or trailers ( 12.33%).

People in Stevensville primarily live in small (one, two or no bedroom) single-family detached homes. Stevensville has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Stevensville 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 Stevensville built between 1940-1969 ( 32.50%). A lesser amount of the housing stock also hails from before 1939 ( 15.33%). There's also some housing in Stevensville built between 2000 and later ( 5.83%).

Vacant housing appears to be an issue in Stevensville. Fully 10.50% of the housing stock is classified as vacant. Left unchecked, vacant Stevensville homes and apartments can be a drag on the real estate market, holding Stevensville 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.

Stevensville Home Appreciation Rates

Stevensville's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Stevensville during the period has been just 5.01%, which is lower than 80% of US communities.

Over the last year, Stevensville appreciation rates have trailed the rest of the nation. In the last twelve months, Stevensville's appreciation rate has been 3.19%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Stevensville were at 4.27%, which equates to an annual appreciation rate of 18.20%.

Importantly, this makes Stevensville one of the highest appreciating communities in the nation for the latest quarter, and may signal the village's near-future real estate investment strength.

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

Average Home Values

Median Home Value

$440,382

Stevensville, MI Home Prices
> $1,255,000
$941,001 - $1,255,000
$628,001 - $941,000
$502,001 - $628,000
$377,001 - $502,000
$251,001 - $377,000
$125,001 - $251,000
$63,001 - $125,000
$0 - $63,000
9.9%
9.9%
8.7%
8.7%
16.5%
16.5%
6.8%
6.8%
5.6%
5.6%
25.9%
25.9%
15.7%
15.7%
4.6%
4.6%
6.2%
6.2%
0% 100.0%
% of Homes
Very High

for Michigan

High

for nation

Number of Homes And Apartments:

537

Stevensville Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,751 / per month

Homeownership Rate

Owners
Renters
58.1%
58.1%
41.9%
41.9%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
10.5%
10.5%
89.5%
89.5%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
5.8%
5.8%
46.3%
46.3%
32.5%
32.5%
15.3%
15.3%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
50.2%
50.2%
3.0%
3.0%
18.8%
18.8%
15.7%
15.7%
12.3%
12.3%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
1.0%
1.0%
9.2%
9.2%
42.3%
42.3%
37.8%
37.8%
8.0%
8.0%
1.7%
1.7%
0% 100.0%
% of Homes