Zip 48460 (New Lothrop, MI) Housing

The housing in 48460 New Lothrop, MI is more affordable than the US median house value of $338,100. The median home value in this area is $189,800, which is significantly lower than the national median. Despite this lower cost of living, the 1 year appreciation rate for houses in this area is still 6.41%, slightly below the national average of 8.27%. Therefore, this area provides a great opportunity to invest in real estate as values are likely to continue to appreciate over time.

The median home cost in New Lothrop (zip 48460) is $189,800. Home appreciation the last 10 years has been 118.0%. Home Appreciation in New Lothrop (zip 48460) is up 12.8%.

Average Age of Homes

- The median age of New Lothrop (zip 48460) real estate is 47 years old

The Rental Market in New Lothrop (zip 48460)

- Renters make up 11.8% of the New Lothrop (zip 48460) population
- 0.6% of houses and apartments in New Lothrop (zip 48460), 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	New Lothrop, Michigan	United States
	1,079.0	139,647,020.0
	51	42
	$189,800	$338,100
	12.8%	16.6%
	53.0%	57.0%
	118.0%	101.1%
	$15.47	$10.98
	$2,444	$2,690
	84.2%	57.4%
	2.8%	11.2%
	13.0%	31.4%
Vacant Housing
	0.6%	1.9%
	0.0%	0.4%
	0.0%	0.7%
	0.8%	0.4%
	0.0%	3.6%
	1.3%	4.1%
Value of Owner-Occupied Housing
	1.8%	2.6%
	0.0%	2.4%
	2.8%	2.8%
	4.1%	3.9%
	9.2%	4.5%
	28.1%	11.3%
	22.4%	13.0%
	25.2%	20.1%
	3.9%	13.6%
	0.3%	8.3%
	0.6%	9.7%
	0.2%	3.9%
	0.6%	2.2%
	1.0%	0.8%
	0.0%	1.1%
Housing Units by Year Structure Built
	0.0%	0.2%
	3.6%	13.6%
	3.6%	13.6%
	13.1%	13.6%
	7.3%	13.2%
	25.3%	14.8%
	13.1%	13.6%
	10.0%	10.0%
	5.2%	4.7%
	20.6%	12.2%

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