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 1,103, 436 total housing units (homes and apartments), and a median house value of $304,488, North Branch real estate and house prices are near the national average for all cities and towns.
Single-family detached homes are the single most common housing type in North Branch, accounting for 57.78% of the village's housing units. Other types of housing that are prevalent in North Branch include large apartment complexes or high rise apartments ( 18.18%), mobile homes or trailers ( 13.13%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 10.30%).
The most prevalent building size and type in North Branch are three and four bedroom dwellings, chiefly found in single-family detached homes. The village has a mixture of owners and renters, with 53.66% owning and 46.34% 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. North Branch's housing was primarily built during this period, from the '40s through the '60s. A full 32.32% of the village's housing hails from this era. Other housing ages represented in North Branch include homes built before 1939 ( 28.08%) and housing constructed between 1970-1999 ( 25.86%). There's also some housing in North Branch built between 2000 and later ( 13.74%).
Vacant housing appears to be an issue in North Branch. Fully 11.92% of the housing stock is classified as vacant. Left unchecked, vacant North Branch homes and apartments can be a drag on the real estate market, holding North Branch real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Appreciation rates for homes in North Branch have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 117.21%, which ranks in the top 30% nationwide. This equates to an annual average North Branch house appreciation rate of 8.07%.
Appreciation rates are so strong in North Branch that despite a nationwide downturn in the housing market, North Branch real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, North Branch appreciation rates continue to be some of the highest in America, at 13.71%, which is higher than appreciation rates in 82.60% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in North Branch. North Branch appreciation rates in the latest quarter were at 3.04%, which equates to an annual appreciation rate of 12.72%.
Relative to Michigan, our data show that North Branch's latest annual appreciation rate is higher than 70% of the other cities and towns in Michigan.
$304,488
for Michigan
for nation
436
$1,052 / per month