Temperance, 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 Q4 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

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

Temperance, MI Housing Market Trends

With 8,478 people, 3,577 houses or apartments, and a median cost of homes of $191,668, Temperance 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 Temperance, accounting for 73.83% of the town's housing units. Other types of housing that are prevalent in Temperance include large apartment complexes or high rise apartments ( 16.20%), duplexes, homes converted to apartments or other small apartment buildings ( 5.57%), and a few row houses and other attached homes ( 4.40%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Temperance. Owner-occupied housing accounts for 78.36% of Temperance's homes, and 70.33% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Temperance 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 Temperance built between 1940-1969 ( 33.02%). A lesser amount of the housing stock also hails from between 2000 and later ( 18.67%). There's also some housing in Temperance built before 1939 ( 8.64%).

Temperance Home Appreciation Rates

Appreciation rates for homes in Temperance have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 34.45%, which ranks in the top 50% nationwide. This equates to an annual average Temperance house appreciation rate of 3.00%.

Over the last year, Temperance appreciation rates have trailed the rest of the nation. In the last twelve months, Temperance's appreciation rate has been 4.24%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Temperance were at 2.29%, which equates to an annual appreciation rate of 9.47%.

Relative to Michigan, our data show that Temperance's latest annual appreciation rate is lower than 90% of the other cities and towns in Michigan.

Average Home Values

 

Median Home Value:
$191,668

Temperance, MI HOME PRICES

> $1,152,000
0.1%
0.1%
$864,001 - $1,152,000
0.0%
0.0%
$576,001 - $864,000
0.5%
0.5%
$461,001 - $576,000
1.5%
1.5%
$345,001 - $461,000
5.1%
5.1%
$230,001 - $345,000
23.7%
23.7%
$115,001 - $230,000
56.7%
56.7%
$58,001 - $115,000
7.7%
7.7%
$0 - $58,000
4.8%
4.8%
0.0% 100.0%
% OF HOMES
Value Relative To State

Average for Nation

High for MI

Value Relative To Nation

Number Of Homes And Apartments:
3,577

Temperance Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
25.32% 1.08%
4
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,137 / per month

Homeownership Rate

Owners
78.4%
78.4%
Renters
21.6%
21.6%
Vacant
5.1%
5.1%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
18.7%
18.7%
1970 - 1999
39.7%
39.7%
1940 - 1969
33.0%
33.0%
1939 or Older
8.6%
8.6%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
73.8%
73.8%
Townhomes
4.4%
4.4%
Small Apt. Buildings
5.6%
5.6%
Apt. Complexes
16.2%
16.2%
Mobile Homes
0.0%
0.0%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
3.6%
3.6%
1 Bedroom
6.6%
6.6%
2 Bedrooms
17.2%
17.2%
3 Bedrooms
44.5%
44.5%
4 Bedrooms
25.8%
25.8%
5 or more bedrooms
2.4%
2.4%
0.0% 100.0%
% OF HOMES