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 2,170 people, 899 houses or apartments, and a median cost of homes of $139,354, house prices in Harrison 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 Harrison, accounting for 69.67% of the city's housing units. Other types of housing that are prevalent in Harrison include large apartment complexes or high rise apartments ( 16.15%), mobile homes or trailers ( 7.05%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.22%).
People in Harrison primarily live in small (one, two or no bedroom) single-family detached homes. Harrison has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Harrison 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 Harrison built between 1940-1969 ( 38.67%). A lesser amount of the housing stock also hails from before 1939 ( 11.75%). There's also some housing in Harrison built between 2000 and later ( 8.04%).
A decent proportion of the Harrison housing stock is seasonally occupied. That is, homes and condos in Harrison are occupied by people for a portion of the year - mainly for vacation purposes - and then locked up and left unoccupied for the remainder of the year as owners return to their primary residences. This characteristic of the Harrison housing market speaks to its popularity as a vacation location of choice.
Appreciation rates for homes in Harrison have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 95.06%, which ranks in the top 50% nationwide. This equates to an annual average Harrison house appreciation rate of 6.91%.
Appreciation rates are so strong in Harrison that despite a nationwide downturn in the housing market, Harrison real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Harrison appreciation rates continue to be some of the highest in America, at 10.45%, which is higher than appreciation rates in 89.18% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Harrison. Harrison appreciation rates in the latest quarter were at 0.88%, which equates to an annual appreciation rate of 3.56%.
Relative to Michigan, our data show that Harrison's latest annual appreciation rate is higher than 90% 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 Harrison differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Harrison - 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 Harrison real estate investment or home purchase decisions.
$139,354
for Michigan
for nation
899
$956 / per month