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 a population of 2,694, 1,488 total housing units (homes and apartments), and a median house value of $184,098, house prices in East Tawas are solidly below the national average.
Single-family detached homes are the single most common housing type in East Tawas, accounting for 75.35% of the city's housing units. Other types of housing that are prevalent in East Tawas include large apartment complexes or high rise apartments ( 17.85%), duplexes, homes converted to apartments or other small apartment buildings ( 4.13%), and a few row houses and other attached homes ( 1.39%).
Dwellings in East Tawas tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 52.89% of the homes in East Tawas have two or fewer bedrooms.
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. East Tawas's housing was primarily built during this period, from the '40s through the '60s. A full 37.67% of the city's housing hails from this era. Other housing ages represented in East Tawas include homes built between 1970-1999 ( 32.48%) and housing constructed between 2000 and later ( 14.95%). There's also some housing in East Tawas built before 1939 ( 14.90%).
Vacant housing appears to be an issue in East Tawas. Fully 20.26% of the housing stock is classified as vacant. Left unchecked, vacant East Tawas homes and apartments can be a drag on the real estate market, holding East Tawas 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.
Appreciation rates for homes in East Tawas have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 99.10%, which ranks in the top 40% nationwide. This equates to an annual average East Tawas house appreciation rate of 7.13%.
NeighborhoodScout's data show that during the latest twelve months, East Tawas's appreciation rate, at 5.76%, has been at or slightly above the national average. In the latest quarter, East Tawas's appreciation rate has been 0.88%, which annualizes to a rate of 3.56%.
Relative to Michigan, our data show that East Tawas's latest annual appreciation rate is lower than 50% of the other cities and towns in Michigan.
$184,098
for Michigan
for nation
1,488
$1,123 / per month