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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Plainwell, MI Real Estate Market

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Plainwell, MI Housing Market Trends

With 3,740 people, 1,498 houses or apartments, and a median cost of homes of $238,381, house prices in Plainwell are solidly below the national average.

Single-family detached homes are the single most common housing type in Plainwell, accounting for 62.88% of the city's housing units. Other types of housing that are prevalent in Plainwell include large apartment complexes or high rise apartments ( 15.37%), duplexes, homes converted to apartments or other small apartment buildings ( 12.42%), and a few mobile homes or trailers ( 6.50%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Plainwell. Owner-occupied housing accounts for 65.28% of Plainwell's homes, and 62.09% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Plainwell 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 Plainwell built before 1939 ( 29.96%). A lesser amount of the housing stock also hails from between 1940-1969 ( 21.88%). There's also some housing in Plainwell built between 2000 and later ( 5.78%).

Plainwell Home Appreciation Rates

Appreciation rates for homes in Plainwell have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 102.31%, which ranks in the top 40% nationwide. This equates to an annual average Plainwell house appreciation rate of 7.30%.

NeighborhoodScout's data show that during the latest twelve months, Plainwell's appreciation rate, at 6.15%, has been at or slightly above the national average. In the latest quarter, Plainwell's appreciation rate has been 0.88%, which annualizes to a rate of 3.56%.

Relative to Michigan, our data show that Plainwell's latest annual appreciation rate is lower than 50% of the other cities and towns in Michigan.

Average Home Values

Median Home Value

$238,381

Plainwell, MI Home Prices
> $1,349,000
$1,012,001 - $1,349,000
$674,001 - $1,012,000
$540,001 - $674,000
$405,001 - $540,000
$270,001 - $405,000
$135,001 - $270,000
$67,001 - $135,000
$0 - $67,000
0.2%
0.2%
0.4%
0.4%
5.2%
5.2%
2.9%
2.9%
12.6%
12.6%
26.0%
26.0%
31.9%
31.9%
11.4%
11.4%
9.4%
9.4%
0% 100.0%
% of Homes
Average

for Michigan

Average

for nation

Number of Homes And Apartments:

1,498

Plainwell Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,569 / per month

Homeownership Rate

Owners
Renters
65.3%
65.3%
34.7%
34.7%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
1.6%
1.6%
98.4%
98.4%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
5.8%
5.8%
42.4%
42.4%
21.9%
21.9%
30.0%
30.0%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
62.9%
62.9%
2.8%
2.8%
12.4%
12.4%
15.4%
15.4%
6.5%
6.5%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.0%
0.0%
7.7%
7.7%
29.3%
29.3%
48.9%
48.9%
13.1%
13.1%
0.9%
0.9%
0% 100.0%
% of Homes