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 5,239 people, 1,994 houses or apartments, and a median cost of homes of $164,285, house prices in Gladstone are some of the most affordable in Michigan as well as the nation.
Single-family detached homes are the single most common housing type in Gladstone, accounting for 75.39% of the city's housing units. Other types of housing that are prevalent in Gladstone include large apartment complexes or high rise apartments ( 11.75%), mobile homes or trailers ( 7.83%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.76%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Gladstone. Owner-occupied housing accounts for 71.29% of Gladstone's homes, and 56.03% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Gladstone 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 Gladstone built before 1939 ( 30.93%). A lesser amount of the housing stock also hails from between 1940-1969 ( 25.37%). There's also some housing in Gladstone built between 2000 and later ( 11.66%).
Vacant housing appears to be an issue in Gladstone. Fully 11.26% of the housing stock is classified as vacant. Left unchecked, vacant Gladstone homes and apartments can be a drag on the real estate market, holding Gladstone 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.
Real estate appreciation rates in Gladstone's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.08% during the period.
Appreciation rates are so strong in Gladstone that despite a nationwide downturn in the housing market, Gladstone real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Gladstone appreciation rates continue to be some of the highest in America, at 10.35%, which is higher than appreciation rates in 88.83% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Gladstone. Gladstone appreciation rates in the latest quarter were at 0.88%, which equates to an annual appreciation rate of 3.56%.
Relative to Michigan, our data show that Gladstone's latest annual appreciation rate is higher than 90% of the other cities and towns in Michigan.
$164,285
for Michigan
for nation
1,994
$1,234 / per month