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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.


Newaygo, MI Real Estate Market

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Newaygo, MI Housing Market Trends

With 2,532 people, 957 houses or apartments, and a median cost of homes of $187,957, house prices in Newaygo are solidly below the national average.

Single-family detached homes are the single most common housing type in Newaygo, accounting for 59.62% of the city's housing units. Other types of housing that are prevalent in Newaygo include large apartment complexes or high rise apartments ( 19.14%), mobile homes or trailers ( 14.76%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.90%).

The most prevalent building size and type in Newaygo are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 58.61% owning and 41.39% renting.

There is a lot of housing in Newaygo 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 Newaygo built before 1939 ( 27.52%). A lesser amount of the housing stock also hails from between 1940-1969 ( 24.10%). There's also some housing in Newaygo built between 2000 and later ( 12.86%).

Newaygo Home Appreciation Rates

In the last 10 years, Newaygo has experienced some of the highest home appreciation rates of any community in the nation. Newaygo real estate appreciated 118.60% over the last ten years, which is an average annual home appreciation rate of 8.13%, putting Newaygo in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Newaygo 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 Newaygo that despite a nationwide downturn in the housing market, Newaygo real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Newaygo appreciation rates continue to be some of the highest in America, at 10.63%, which is higher than appreciation rates in 89.82% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Newaygo. Newaygo 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 Newaygo's latest annual appreciation rate is higher than 90% of the other cities and towns in Michigan.

Average Home Values

Median Home Value

$187,957

Newaygo, MI Home Prices
> $1,411,000
$1,058,001 - $1,411,000
$705,001 - $1,058,000
$564,001 - $705,000
$423,001 - $564,000
$282,001 - $423,000
$141,001 - $282,000
$70,001 - $141,000
$0 - $70,000
0.0%
0.0%
1.8%
1.8%
0.3%
0.3%
3.4%
3.4%
7.5%
7.5%
18.5%
18.5%
34.1%
34.1%
22.5%
22.5%
12.0%
12.0%
0% 100.0%
% of Homes
Low

for Michigan

Low

for nation

Number of Homes And Apartments:

957

Newaygo Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,749 / per month

Homeownership Rate

Owners
Renters
58.6%
58.6%
41.4%
41.4%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
8.9%
8.9%
91.1%
91.1%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
12.9%
12.9%
35.5%
35.5%
24.1%
24.1%
27.5%
27.5%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
59.6%
59.6%
0.6%
0.6%
5.9%
5.9%
19.1%
19.1%
14.8%
14.8%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.0%
0.0%
16.0%
16.0%
26.9%
26.9%
44.7%
44.7%
9.0%
9.0%
3.4%
3.4%
0% 100.0%
% of Homes

Zip Codes in Newaygo, MI