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 4,029 people, 1,948 houses or apartments, and a median cost of homes of $181,529, house prices in Marine City are solidly below the national average.
Single-family detached homes are the single most common housing type in Marine City, accounting for 76.85% of the city's housing units. Other types of housing that are prevalent in Marine City include duplexes, homes converted to apartments or other small apartment buildings ( 10.83%), large apartment complexes or high rise apartments ( 7.64%), and a few row houses and other attached homes ( 4.18%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Marine City. Owner-occupied housing accounts for 81.88% of Marine City's homes, and 61.17% have either three or four bedrooms, which is average sized relative to America.
The housing in Marine City was primarily built before 1939 ( 45.26%), making the housing stock in Marine City some of the oldest overall in America, although there is a range of ages of homes in Marine City. The next most important housing age is between 1940-1969 ( 27.69%), followed by between 1970-1999 ( 25.08%). There's also some housing in Marine City built between 2000 and later ( 1.98%).
Vacant housing appears to be an issue in Marine City. Fully 12.45% of the housing stock is classified as vacant. Left unchecked, vacant Marine City homes and apartments can be a drag on the real estate market, holding Marine City 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 Marine City have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 100.35%, which ranks in the top 40% nationwide. This equates to an annual average Marine City house appreciation rate of 7.20%.
NeighborhoodScout's data show that during the latest twelve months, Marine City's appreciation rate, at 6.24%, has been at or slightly above the national average. In the latest quarter, Marine City's appreciation rate has been 1.70%, which annualizes to a rate of 6.96%.
Relative to Michigan, our data show that Marine City's latest annual appreciation rate is lower than 50% of the other cities and towns in Michigan.
$181,529
for Michigan
for nation
1,948
$1,372 / per month