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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.



Cement City, 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

Cement City, MI Housing Market Trends

With 420 people, 203 houses or apartments, and a median cost of homes of $293,733, Cement City 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 Cement City, accounting for 83.78% of the village's housing units. Other types of housing that are prevalent in Cement City include mobile homes or trailers ( 14.41%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Cement City. Owner-occupied housing accounts for 78.82% of Cement City's homes, and 67.57% have either three or four bedrooms, which is average sized relative to America.

The housing in Cement City was primarily built before 1939 ( 37.39%), making the housing stock in Cement City some of the oldest overall in America, although there is a range of ages of homes in Cement City. The next most important housing age is between 1940-1969 ( 34.68%), followed by between 1970-1999 ( 20.72%). There's also some housing in Cement City built between 2000 and later ( 7.21%).

Cement City Home Appreciation Rates

Appreciation rates for homes in Cement City have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 109.58%, which ranks in the top 30% nationwide. This equates to an annual average Cement City house appreciation rate of 7.68%.

Appreciation rates are so strong in Cement City that despite a nationwide downturn in the housing market, Cement City real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Cement City appreciation rates continue to be some of the highest in America, at 8.52%, which is higher than appreciation rates in 75.82% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Cement City. Cement City appreciation rates in the latest quarter were at 1.20%, which equates to an annual appreciation rate of 4.88%.

Relative to Michigan, our data show that Cement City's latest annual appreciation rate is higher than 80% of the other cities and towns in Michigan.

Average Home Values

Median Home Value

$293,733

Cement City, MI Home Prices
> $1,385,000
$1,038,001 - $1,385,000
$692,001 - $1,038,000
$554,001 - $692,000
$415,001 - $554,000
$277,001 - $415,000
$138,001 - $277,000
$69,001 - $138,000
$0 - $69,000
1.0%
1.0%
3.3%
3.3%
5.9%
5.9%
11.3%
11.3%
4.8%
4.8%
29.0%
29.0%
33.1%
33.1%
7.4%
7.4%
4.3%
4.3%
0% 100.0%
% of Homes
High

for Michigan

Average

for nation

Number of Homes And Apartments:

203

Cement City Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,439 / per month

Homeownership Rate

Owners
Renters
78.8%
78.8%
21.2%
21.2%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
8.6%
8.6%
91.4%
91.4%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
7.2%
7.2%
20.7%
20.7%
34.7%
34.7%
37.4%
37.4%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
83.8%
83.8%
0.5%
0.5%
0.5%
0.5%
0.9%
0.9%
14.4%
14.4%
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%
2.3%
2.3%
27.9%
27.9%
59.9%
59.9%
7.7%
7.7%
2.3%
2.3%
0% 100.0%
% of Homes

Popular Neighborhoods in Cement City

Zip Codes in Cement City, MI