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 1,267, 592 total housing units (homes and apartments), and a median house value of $252,714, house prices in Stockbridge are solidly below the national average.
Single-family detached homes are the single most common housing type in Stockbridge, accounting for 59.82% of the village's housing units. Other types of housing that are prevalent in Stockbridge include large apartment complexes or high rise apartments ( 22.21%), duplexes, homes converted to apartments or other small apartment buildings ( 14.35%), and a few row houses and other attached homes ( 2.87%).
People in Stockbridge primarily live in small (one, two or no bedroom) single-family detached homes. Stockbridge has a mixture of owner-occupied and renter-occupied housing.
The housing in Stockbridge was primarily built before 1939 ( 37.46%), making the housing stock in Stockbridge some of the oldest overall in America, although there is a range of ages of homes in Stockbridge. The next most important housing age is between 1940-1969 ( 33.23%), followed by between 1970-1999 ( 25.68%). There's also some housing in Stockbridge built between 2000 and later ( 3.63%).
Vacant housing appears to be an issue in Stockbridge. Fully 10.57% of the housing stock is classified as vacant. Left unchecked, vacant Stockbridge homes and apartments can be a drag on the real estate market, holding Stockbridge 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 Stockbridge have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 95.53%, which ranks in the top 50% nationwide. This equates to an annual average Stockbridge house appreciation rate of 6.94%.
Over the last year, Stockbridge appreciation rates have trailed the rest of the nation. In the last twelve months, Stockbridge's appreciation rate has been -0.26%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Stockbridge were at 0.71%, which equates to an annual appreciation rate of 2.85%.
Relative to Michigan, our data show that Stockbridge's latest annual appreciation rate is lower than 90% of the other cities and towns in Michigan.
$252,714
for Michigan
for nation
592
$1,130 / per month