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 14,629, 6,307 total housing units (homes and apartments), and a median house value of $153,266, house prices in Owosso 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 Owosso, accounting for 70.82% of the city's housing units. Other types of housing that are prevalent in Owosso include duplexes, homes converted to apartments or other small apartment buildings ( 14.72%), large apartment complexes or high rise apartments ( 9.47%), and a few row houses and other attached homes ( 2.62%).
The most prevalent building size and type in Owosso are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 63.14% owning and 36.86% renting.
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. Owosso's housing was primarily built during this period, from the '40s through the '60s. A full 39.57% of the city's housing hails from this era. Other housing ages represented in Owosso include homes built before 1939 ( 34.52%) and housing constructed between 1970-1999 ( 21.55%). There's also some housing in Owosso built between 2000 and later ( 4.36%).
Real estate appreciation rates in Owosso's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.36% during the period.
Over the last year, Owosso appreciation rates have trailed the rest of the nation. In the last twelve months, Owosso's appreciation rate has been 1.87%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Owosso were at 0.71%, which equates to an annual appreciation rate of 2.85%.
Relative to Michigan, our data show that Owosso's latest annual appreciation rate is lower 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 Owosso differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Owosso - 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 Owosso real estate investment or home purchase decisions.
$153,266
for Michigan
for nation
6,307
$1,236 / per month