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 1,712, 819 total housing units (homes and apartments), and a median house value of $117,153, house prices in Montrose 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 Montrose, accounting for 67.63% of the city's housing units. Other types of housing that are prevalent in Montrose include large apartment complexes or high rise apartments ( 20.00%), duplexes, homes converted to apartments or other small apartment buildings ( 9.94%), and a few row houses and other attached homes ( 2.43%).
People in Montrose primarily live in small (one, two or no bedroom) single-family detached homes. Montrose has a mixture of owner-occupied and renter-occupied housing.
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. Montrose's housing was primarily built during this period, from the '40s through the '60s. A full 49.36% of the city's housing hails from this era. Other housing ages represented in Montrose include homes built between 1970-1999 ( 26.94%) and housing constructed before 1939 ( 11.91%). There's also some housing in Montrose built between 2000 and later ( 11.79%).
Real estate appreciation rates in Montrose's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.95% during the period.
Over the last year, Montrose appreciation rates have trailed the rest of the nation. In the last twelve months, Montrose's appreciation rate has been 4.98%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Montrose were at 2.46%, which equates to an annual appreciation rate of 10.20%.
Relative to Michigan, our data show that Montrose's latest annual appreciation rate is lower than 60% of the other cities and towns in Michigan.
$117,153
for Michigan
for nation
819
$1,172 / per month