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 1,448, 546 total housing units (homes and apartments), and a median house value of $305,647, Schoolcraft 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 Schoolcraft, accounting for 78.51% of the village's housing units. Other types of housing that are prevalent in Schoolcraft include duplexes, homes converted to apartments or other small apartment buildings ( 10.75%), large apartment complexes or high rise apartments ( 9.53%), and a few row houses and other attached homes ( 1.21%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Schoolcraft. Owner-occupied housing accounts for 75.27% of Schoolcraft's homes, and 62.39% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Schoolcraft 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 Schoolcraft built before 1939 ( 26.34%). A lesser amount of the housing stock also hails from between 1940-1969 ( 24.96%). There's also some housing in Schoolcraft built between 2000 and later ( 2.60%).
Real estate appreciation rates in Schoolcraft's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.86% during the period.
Over the last year, Schoolcraft appreciation rates have trailed the rest of the nation. In the last twelve months, Schoolcraft's appreciation rate has been 4.29%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Schoolcraft were at 1.63%, which equates to an annual appreciation rate of 6.69%.
Relative to Michigan, our data show that Schoolcraft's latest annual appreciation rate is lower than 70% of the other cities and towns in Michigan.
$305,647
for Michigan
for nation
546
$1,257 / per month