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 3,006 people, 1,298 houses or apartments, and a median cost of homes of $134,097, house prices in Bad Axe 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 Bad Axe, accounting for 70.08% of the city's housing units. Other types of housing that are prevalent in Bad Axe include large apartment complexes or high rise apartments ( 17.24%), duplexes, homes converted to apartments or other small apartment buildings ( 9.42%), and a few row houses and other attached homes ( 2.08%).
People in Bad Axe primarily live in small (one, two or no bedroom) single-family detached homes. Bad Axe has a mixture of owner-occupied and renter-occupied housing.
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. Bad Axe's housing was primarily built during this period, from the '40s through the '60s. A full 43.70% of the city's housing hails from this era. Other housing ages represented in Bad Axe include homes built between 1970-1999 ( 28.60%) and housing constructed before 1939 ( 21.33%). There's also some housing in Bad Axe built between 2000 and later ( 6.37%).
Vacant housing appears to be an issue in Bad Axe. Fully 10.11% of the housing stock is classified as vacant. Left unchecked, vacant Bad Axe homes and apartments can be a drag on the real estate market, holding Bad Axe 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.
Bad Axe's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Bad Axe during the period has been just 5.12%, which is lower than 80% of US communities.
Over the last year, Bad Axe appreciation rates have trailed the rest of the nation. In the last twelve months, Bad Axe's appreciation rate has been 2.48%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Bad Axe were at 0.88%, which equates to an annual appreciation rate of 3.56%.
Relative to Michigan, our data show that Bad Axe's latest annual appreciation rate is lower than 80% of the other cities and towns in Michigan.
$134,097
for Michigan
for nation
1,298
$1,138 / per month