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 1,271 people, 513 houses or apartments, and a median cost of homes of $572,475, Harbor Springs house prices are not only among the most expensive in Michigan, Harbor Springs real estate also is some of the most expensive in all of America.
Single-family detached homes are the single most common housing type in Harbor Springs, accounting for 72.99% of the city's housing units. Other types of housing that are prevalent in Harbor Springs include large apartment complexes or high rise apartments ( 10.73%), duplexes, homes converted to apartments or other small apartment buildings ( 8.70%), and a few mobile homes or trailers ( 4.16%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Harbor Springs. Owner-occupied housing accounts for 66.99% of Harbor Springs's homes, and 61.24% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Harbor Springs 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 Harbor Springs built before 1939 ( 29.42%). A lesser amount of the housing stock also hails from between 1940-1969 ( 25.81%). There's also some housing in Harbor Springs built between 2000 and later ( 13.69%).
A decent proportion of the Harbor Springs housing stock is seasonally occupied. That is, homes and condos in Harbor Springs are occupied by people for a portion of the year - mainly for vacation purposes - and then locked up and left unoccupied for the remainder of the year as owners return to their primary residences. This characteristic of the Harbor Springs housing market speaks to its popularity as a vacation location of choice.
In the last 10 years, Harbor Springs has experienced some of the highest home appreciation rates of any community in the nation. Harbor Springs real estate appreciated 150.46% over the last ten years, which is an average annual home appreciation rate of 9.62%, putting Harbor Springs in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Harbor Springs 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 Harbor Springs that despite a nationwide downturn in the housing market, Harbor Springs real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Harbor Springs appreciation rates continue to be some of the highest in America, at 14.93%, which is higher than appreciation rates in 97.41% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Harbor Springs. Harbor Springs 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 Harbor Springs's latest annual appreciation rate is higher than 90% of the other cities and towns in Michigan.
$572,475
for Michigan
for nation
513
$1,745 / per month