Lima, Michigan is a vibrant city with a strong housing market. The median value of homes in Lima is $383,600, which is much higher than the US House Median Value of $338,100. In addition, over the past year, house appreciation in Lima has been 8.47%, which is slightly higher than the US 1 year House Appreciation of 8.27%. This indicates that housing in Lima is a solid investment and suggests that the real estate market will remain strong for years to come.
The median home cost in Lima is $383,600. Home appreciation the last 10 years has been 109.8%. Home Appreciation in Lima is up 13.1%.
Average Age of Homes
- The median age of Lima real estate is 30 years old
The Rental Market in Lima
- Renters make up 3.3% of the Lima population
- 0.0% of houses and apartments in Lima, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.