The housing market in Parma, MI is booming! The median value of a house currently stands at $216,800, which is significantly lower than the US House Median Value of $338,100. Despite this difference, the appreciation rate of 1 year for houses in Parma, MI is a whopping 9.09%, which is higher than the national average of 8.27%. This indicates that real estate investment in this area may be a good option for those looking to get a return on their investment.
The median home cost in Parma is $216,800. Home appreciation the last 10 years has been 106.2%. Home Appreciation in Parma is up 16.2%.
Average Age of Homes
- The median age of Parma real estate is 64 years old
The Rental Market in Parma
- Renters make up 15.5% of the Parma population
- 5.0% of houses and apartments in Parma, 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.