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 12,347, 5,756 total housing units (homes and apartments), and a median house value of $138,510, house prices in Escanaba 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 Escanaba, accounting for 63.78% of the city's housing units. Other types of housing that are prevalent in Escanaba include large apartment complexes or high rise apartments ( 18.42%), duplexes, homes converted to apartments or other small apartment buildings ( 11.83%), and a few mobile homes or trailers ( 5.31%).
People in Escanaba primarily live in small (one, two or no bedroom) single-family detached homes. Escanaba has a mixture of owner-occupied and renter-occupied housing.
The housing in Escanaba was primarily built before 1939 ( 43.56%), making the housing stock in Escanaba some of the oldest overall in America, although there is a range of ages of homes in Escanaba. The next most important housing age is between 1940-1969 ( 29.77%), followed by between 1970-1999 ( 23.82%). There's also some housing in Escanaba built between 2000 and later ( 2.85%).
Vacant housing appears to be an issue in Escanaba. Fully 11.36% of the housing stock is classified as vacant. Left unchecked, vacant Escanaba homes and apartments can be a drag on the real estate market, holding Escanaba 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.
Some of the lowest real estate appreciation rates in America over the last ten years have been in Escanaba, where house values have increased just 55.45%, which is annualized rate of 4.51%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
Over the last year, Escanaba appreciation rates have trailed the rest of the nation. In the last twelve months, Escanaba's appreciation rate has been 4.10%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Escanaba were at 0.88%, which equates to an annual appreciation rate of 3.56%.
Relative to Michigan, our data show that Escanaba's latest annual appreciation rate is lower than 70% of the other cities and towns in Michigan.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Escanaba differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Escanaba - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Escanaba real estate investment or home purchase decisions.
$138,510
for Michigan
for nation
5,756
$939 / per month