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Farwell, MI Housing

 
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As of 2010-2014, median price of a house in Farwell is $63,800, which is much lower than the state average of $120,200 and is much lower than the national average of $175,700. The Farwell median house value has grown by 0.79% since 2000. The growth rate for the price of a house in Farwell is lower than the state average rate of 3.98% and is much lower than the national average rate of 46.91%. The median year that a house in Farwell was built is 1974, which is newer than the median year for a house built in the state which is 1969 and is older than the median year for a house built in the USA which is 1976.

Topics:House ValueHousing OccupancyYear Structure BuiltMortgage StatusMortgage Owner's CostsNone-Mortgage Owner's CostsUnits in StructureRoomsBedroomsHouse Heating FuelGross RentVehicle Available

House Value

Median Value of a Total of 239 Owner Occupied Houses in Farwell, MI, #591
Farwell, MI
63,800 USD
Michigan
120,200 USD
U.S.
175,700 USD
Median House Price Growth Since 2000, #386
Farwell, MI
0.79%
Michigan
3.98%
U.S.
46.91%
Ranks: $50K or Less, $50-100K, $100-150K, $150-200K, $200-300K, $300-500K, $500-1M, $1M or More

*Based on 2010-2014 data. View historical house value data.

Housing Occupancy

 Farwell, MIMichiganU.S.
Total Housing Units376, see rank, 100%4,532,719132,741,033
Occupied Housing Units347, 92.29%, see rank84.45%87.55%
Owner Occupied239, 63.56%, see rank60.41%56.34%
Renter Occupied108, 28.72%, see rank24.04%31.21%
Vacant Housing Units29, 7.71%, see rank15.55%12.45%
For Rent9, 2.39%, see rank1.84%2.34%
For Sale Only13, 3.46%, see rank1.40%1.20%
Rented or Sold, Not Occupied0, 0.00%, see rank1.04%0.92%
For Seasonal, Recreational, or Occasional Use5, 1.33%, see rank6.26%3.97%
For Migrant Workers0, 0.00%, see rank0.05%0.03%
Other Vacant2, 0.53%, see rank4.96%4.00%

*Based on 2010-2014 data. View historical housing occupancy data.

Year Structure Built

Median Built Year, #130
Farwell, MIMichiganU.S.
197419691976

Ranks: 1995 or earlier, 1960-1969, 1970-1979, 1980-1989, 1990-2000, 2000-2010

*Based on 2010-2014 data. View historical year structure built data.

Mortgage Status

 Farwell, MI%MichiganU.S.
Owner-Occupied Units239100%2,738,01274,787,460
With a Mortgage11146.44%, see rank63.63%65.58%
Without a Mortgage12853.56%, see rank36.37%34.42%

*Based on 2010-2014 data. View historical mortgage status data.

Monthly Owner Costs for Housing Units with a Mortgage


Median Owner Costs, see rank
Farwell, MI
875 USD
Michigan
1,295 USD
U.S.
1,522 USD

Owner Costs Distribution
Monthly Owner CostsFarwell, MI%MichiganU.S.
$299 or Less00.00%, see rank0.19%0.20%
$300 to $49998.11%, see rank1.88%1.59%
$500 to $6992825.23%, see rank6.65%5.01%
$700 to $9992825.23%, see rank19.56%14.32%
$1,000 to $1,4992421.62%, see rank34.69%27.90%
$1,500 to $1,99900.00%, see rank20.06%20.35%
$2,000 to $2,9992219.82%, see rank12.84%19.52%
$3,000 or More00.00%, see rank4.13%11.12%

Owner Cost as a Percentage of the Total Income, Median Percentage, see rank
Farwell, MI
31.80% of the Total Income
Michigan
22.60% of the Total Income
U.S.
23.70% of the Total Income

Owner Cost as a Percentage of the Total Income, Distribution
 Farwell, MI%MichiganU.S.
10% or Less65.41%, see rank5.90%5.86%
10% to 20%3228.83%, see rank35.28%31.95%
20% to 30%98.11%, see rank27.51%27.64%
30% to 40%4742.34%, see rank12.63%13.74%
40% or More1715.32%, see rank18.20%20.29%

*Based on 2010-2014 data. View historical monthly owner costs for housing units with a mortgage data.

Monthly Owner Costs for Housing Units without a Mortgage


Median Owner Costs, see rank
Farwell, MI
342 USD
Michigan
463 USD
U.S.
457 USD

Owner Costs Distribution
Monthly Owner CostsFarwell, MI%MichiganU.S.
$199 or Less1814.06%, see rank4.74%7.76%
$200 to $2993023.44%, see rank12.46%14.70%
$300 to $4996752.34%, see rank40.41%34.63%
$500 to $6991310.16%, see rank25.95%21.16%
$700 to $99900.00%, see rank0.00%0.00%
$1,000 or More00.00%, see rank0.00%0.00%

Owner Cost as a Percentage of the Total Income, Median Percentage, see rank
Farwell, MI
17.10% of the Total Income
Michigan
13.40% of the Total Income
U.S.
12.30% of the Total Income

Owner Cost as a Percentage of the Total Income, Distribution
 Farwell, MI%MichiganU.S.
10% or Less1511.72%, see rank35.33%40.19%
10% to 20%6550.78%, see rank33.76%31.47%
20% to 30%3124.22%, see rank13.39%12.24%
30% to 40%53.91%, see rank6.18%5.64%
40% or More129.38%, see rank9.99%9.16%

*Based on 2010-2014 data. View historical monthly owner costs for housing units without a mortgage data.

Units in Structure

 Farwell, MIMichiganU.S.
Total Housing Units376, 100%4,532,719132,741,033
1-unit, Detached246, 65.43%, see rank71.97%61.65%
1-unit, Attached2, 0.53%, see rank4.66%5.82%
2 Units9, 2.39%, see rank2.58%3.75%
3 or 4 Units7, 1.86%, see rank2.56%4.43%
5 to 9 Units24, 6.38%, see rank4.20%4.78%
10 or More Units23, 6.12%, see rank8.58%13.08%
Mobile Home, Boat, RV, Van, etc.65, 17.29%, see rank5.45%6.49%

*Based on 2010-2014 data. View historical units in structure data.

Rooms

 Farwell, MIMichiganU.S.
Total Housing Units376, 100%4,532,719132,741,033
1 Room2, 0.53%, see rank1.24%1.95%
2 Rooms5, 1.33%, see rank1.78%2.48%
3 Rooms23, 6.12%, see rank7.14%9.13%
4 Rooms53, 14.10%, see rank14.38%16.60%
5 Rooms97, 25.80%, see rank21.00%20.41%
6 Rooms70, 18.62%, see rank20.07%18.06%
7 Rooms63, 16.76%, see rank13.45%12.27%
8 Rooms17, 4.52%, see rank9.27%8.48%
9 Rooms or More46, 12.23%, see rank11.67%10.60%
Median Rooms5.60, see rank5.705.50

*Based on 2010-2014 data. View historical rooms data.

Bedrooms

 Farwell, MIMichiganU.S.
Total Housing Units376, 100%4,532,719132,741,033
No Bedroom2, 0.53%, see rank1.35%2.17%
1 Bedroom44, 11.70%, see rank9.11%11.16%
2 Bedrooms84, 22.34%, see rank26.33%26.69%
3 Bedrooms178, 47.34%, see rank43.93%39.70%
4 Bedrooms52, 13.83%, see rank15.80%16.05%
5 or More Bedrooms16, 4.26%, see rank3.47%4.22%

*Based on 2010-2014 data. View historical bedrooms data.

House Heating Fuel

 Farwell, MIMichiganU.S.
Total Housing Units347, 100%3,827,880116,211,092
Utility Gas290, 83.57%, see rank77.13%48.85%
Bottled, Tank, or LP Gas14, 4.03%, see rank8.48%4.86%
Electricity28, 8.07%, see rank8.30%36.68%
Fuel Oil, Kerosene, etc.0, 0.00%, see rank1.40%5.86%
Coal or Coke0, 0.00%, see rank0.03%0.12%
Wood1, 0.29%, see rank3.39%2.12%
Solar Energy0, 0.00%, see rank0.02%0.05%
Other Fuel10, 2.88%, see rank0.86%0.47%
No Fuel Used4, 1.15%, see rank0.39%1.00%

*Based on 2010-2014 data. View historical house heating fuel data.

Gross Rent

Monthly RentalFarwell, MIMichiganU.S.
Occupied Units Paying Rent100, 100%1,028,83539,201,928
$199 or Less12, 12.00%, see rank1.86%1.50%
$200 to $29916, 16.00%, see rank3.88%3.18%
$300 to $49918, 18.00%, see rank9.32%7.37%
$500 to $69910, 10.00%, see rank23.63%16.01%
$700 to $99941, 41.00%, see rank35.23%29.17%
$1,000 to $1,4993, 3.00%, see rank20.17%26.88%
$1,500 to $1,9990, 0.00%, see rank3.85%9.79%
$2,000 or More0, 0.00%, see rank2.06%6.10%
Median$540, see rank$780$920

*Based on 2010-2014 data. View historical gross rent data.

Vehicle Available

 Farwell, MIMichiganU.S.
Occupied Housing Units347, 100%3,827,880116,211,092
No Vehicles Available42, 12.10%, see rank7.97%9.12%
1 Vehicles Available185, 53.31%, see rank35.06%33.80%
2 Vehicles Available76, 21.90%, see rank38.45%37.48%
3 or More Vehicles Available44, 12.68%, see rank18.52%19.61%

*Based on 2010-2014 data. View historical vehicle available data.


 
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