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 5,185 people, 2,004 houses or apartments, and a median cost of homes of $166,627, house prices in Eaton Rapids 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 Eaton Rapids, accounting for 70.99% of the city's housing units. Other types of housing that are prevalent in Eaton Rapids include large apartment complexes or high rise apartments ( 13.86%), mobile homes or trailers ( 7.81%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.33%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Eaton Rapids. Owner-occupied housing accounts for 68.72% of Eaton Rapids's homes, and 62.54% have either three or four bedrooms, which is average sized relative to America.
The housing in Eaton Rapids was primarily built before 1939 ( 44.62%), making the housing stock in Eaton Rapids some of the oldest overall in America, although there is a range of ages of homes in Eaton Rapids. The next most important housing age is between 1940-1969 ( 24.20%), followed by between 1970-1999 ( 23.56%). There's also some housing in Eaton Rapids built between 2000 and later ( 7.62%).
Real estate appreciation rates in Eaton Rapids's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.37% during the period.
Over the last year, Eaton Rapids appreciation rates have trailed the rest of the nation. In the last twelve months, Eaton Rapids's appreciation rate has been 4.22%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Eaton Rapids were at -1.91%, which equates to an annual appreciation rate of -7.43%.
Notably, Eaton Rapids's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Michigan, our data show that Eaton Rapids's latest annual appreciation rate is lower than 90% of the other cities and towns in Michigan.
$166,627
for Michigan
for nation
2,004
$1,108 / per month