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 996 people, 497 houses or apartments, and a median cost of homes of $241,876, house prices in Lewiston are solidly below the national average.
Single-family detached homes are the single most common housing type in Lewiston, accounting for 90.17% of the town's housing units. Other types of housing that are prevalent in Lewiston include mobile homes or trailers ( 5.37%), large apartment complexes or high rise apartments ( 3.09%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.37%).
Dwellings in Lewiston tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 50.17% of the homes in Lewiston 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. Lewiston's housing was primarily built during this period, from the '40s through the '60s. A full 46.86% of the town's housing hails from this era. Other housing ages represented in Lewiston include homes built between 1970-1999 ( 43.09%) and housing constructed between 2000 and later ( 8.80%). There's also some housing in Lewiston built before 1939 ( 1.26%).
A decent proportion of the Lewiston housing stock is seasonally occupied. That is, homes and condos in Lewiston 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 Lewiston housing market speaks to its popularity as a vacation location of choice.
In the last 10 years, Lewiston has experienced some of the highest home appreciation rates of any community in the nation. Lewiston real estate appreciated 128.24% over the last ten years, which is an average annual home appreciation rate of 8.60%, putting Lewiston in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Lewiston definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Appreciation rates are so strong in Lewiston that despite a nationwide downturn in the housing market, Lewiston real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Lewiston appreciation rates continue to be some of the highest in America, at 12.58%, which is higher than appreciation rates in 94.76% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Lewiston. Lewiston 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 Lewiston's latest annual appreciation rate is higher than 90% of the other cities and towns in Michigan.
$241,876
for Michigan
for nation
497
$1,462 / per month