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 14,488, 6,531 total housing units (homes and apartments), and a median house value of $233,023, house prices in Fraser are solidly below the national average.
Single-family detached homes are the single most common housing type in Fraser, accounting for 65.36% of the city's housing units. Other types of housing that are prevalent in Fraser include large apartment complexes or high rise apartments ( 17.01%), row houses and other attached homes ( 13.66%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.11%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Fraser. Owner-occupied housing accounts for 73.84% of Fraser's homes, and 61.76% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Fraser 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 Fraser built between 1940-1969 ( 46.51%). A lesser amount of the housing stock also hails from between 2000 and later ( 3.63%). There's also some housing in Fraser built before 1939 ( 2.05%).
In the last 10 years, Fraser has experienced some of the highest home appreciation rates of any community in the nation. Fraser real estate appreciated 124.40% over the last ten years, which is an average annual home appreciation rate of 8.42%, putting Fraser in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Fraser 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 Fraser that despite a nationwide downturn in the housing market, Fraser real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Fraser appreciation rates continue to be some of the highest in America, at 12.01%, which is higher than appreciation rates in 72.44% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Fraser. Fraser appreciation rates in the latest quarter were at 2.30%, which equates to an annual appreciation rate of 9.54%.
Relative to Michigan, our data show that Fraser's latest annual appreciation rate is higher than 50% of the other cities and towns in Michigan.
$233,023
for Michigan
for nation
6,531
$1,071 / per month