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 5,185, 2,004 total housing units (homes and apartments), and a median house value of $168,688, house prices in Eaton Rapids 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 Eaton Rapids, accounting for 70.99% of the city's housing units. Other types of housing that are prevalent in Eaton Rapids include large apartment complexes or high rise apartments ( 13.86%), mobile homes or trailers ( 7.81%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.33%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Eaton Rapids. Owner-occupied housing accounts for 68.72% of Eaton Rapids's homes, and 62.54% have either three or four bedrooms, which is average sized relative to America.
The housing in Eaton Rapids was primarily built before 1939 ( 44.62%), making the housing stock in Eaton Rapids some of the oldest overall in America, although there is a range of ages of homes in Eaton Rapids. The next most important housing age is between 1940-1969 ( 24.20%), followed by between 1970-1999 ( 23.56%). There's also some housing in Eaton Rapids built between 2000 and later ( 7.62%).
Real estate appreciation rates in Eaton Rapids's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.03% during the period.
Over the last year, Eaton Rapids appreciation rates have trailed the rest of the nation. In the last twelve months, Eaton Rapids's appreciation rate has been 0.95%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Eaton Rapids were at 0.71%, which equates to an annual appreciation rate of 2.85%.
Relative to Michigan, our data show that Eaton Rapids's latest annual appreciation rate is lower than 90% of the other cities and towns in Michigan.
$168,688
for Michigan
for nation
2,004
$1,194 / per month