Zip 48622 (Farwell, MI) Housing

The median value of housing in 48622 Farwell, MI is $146,300, which is significantly lower than the national median of $338,100. However, the 1 year house appreciation rate in 48622 Farwell, MI is higher than the national average at 9.86%, indicating that property values are on the rise in this area. Thus, investing in real estate in 48622 Farwell, MI could be a good option for prospective homeowners or investors looking to take advantage of local market trends and capitalize on potential home value gains.

The median home cost in Farwell (zip 48622) is $146,300. Home appreciation the last 10 years has been 76.0%. Home Appreciation in Farwell (zip 48622) is up 15.7%.

Average Age of Homes

- The median age of Farwell (zip 48622) real estate is 38 years old

The Rental Market in Farwell (zip 48622)

- Renters make up 12.2% of the Farwell (zip 48622) population
- 1.2% of houses and apartments in Farwell (zip 48622), 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.

Median Monthly Rent by Number of Bedrooms

Housing by Year Built

Housing	Farwell, Michigan	United States
	3,115.0	139,647,020.0
	40	42
	$146,300	$338,100
	15.7%	16.6%
	57.6%	57.0%
	76.0%	101.1%
	$13.15	$10.98
	$1,295	$2,690
	58.7%	57.4%
	30.3%	11.2%
	11.0%	31.4%
Vacant Housing
	1.2%	1.9%
	0.0%	0.4%
	0.4%	0.7%
	0.0%	0.4%
	27.8%	3.6%
	0.9%	4.1%
Value of Owner-Occupied Housing
	5.3%	2.6%
	6.0%	2.4%
	8.6%	2.8%
	18.4%	3.9%
	12.6%	4.5%
	19.0%	11.3%
	14.2%	13.0%
	12.2%	20.1%
	1.4%	13.6%
	0.8%	8.3%
	1.0%	9.7%
	0.0%	3.9%
	0.5%	2.2%
	0.0%	0.8%
	0.0%	1.1%
Housing Units by Year Structure Built
	0.4%	0.2%
	17.3%	13.6%
	17.3%	13.6%
	15.7%	13.6%
	16.0%	13.2%
	20.6%	14.8%
	15.7%	13.6%
	7.6%	10.0%
	3.0%	4.7%
	4.8%	12.2%

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