Zip 49656 (Luther, MI) Housing

The housing market in Luther, MI (49656) is booming compared to the national average. According to recent reports, the median house value in Luther stands at $117,300 while the US house median value is $338,100. This translates to a 15.49% one year appreciation rate of houses in Luther, which is more than double than that of the US's 8.27%. With such high rates of house appreciation, it seems that Luther boasts a great housing market and offers potential buyers plenty of opportunity to invest in real estate.

The median home cost in Luther (zip 49656) is $117,300. Home appreciation the last 10 years has been 122.2%. Home Appreciation in Luther (zip 49656) is up 19.8%.

Average Age of Homes

- The median age of Luther (zip 49656) real estate is 39 years old

The Rental Market in Luther (zip 49656)

- Renters make up 6.0% of the Luther (zip 49656) population
- 0.3% of houses and apartments in Luther (zip 49656), 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	Luther, Michigan	United States
	1,536.0	139,647,020.0
	40	42
	$117,300	$338,100
	19.8%	16.6%
	69.9%	57.0%
	122.2%	101.1%
	$13.38	$10.98
	$1,283	$2,690
	35.5%	57.4%
	59.3%	11.2%
	5.1%	31.4%
Vacant Housing
	0.3%	1.9%
	0.2%	0.4%
	0.6%	0.7%
	0.0%	0.4%
	51.6%	3.6%
	6.7%	4.1%
Value of Owner-Occupied Housing
	3.1%	2.6%
	10.1%	2.4%
	14.8%	2.8%
	11.2%	3.9%
	14.1%	4.5%
	13.6%	11.3%
	15.0%	13.0%
	7.7%	20.1%
	7.1%	13.6%
	0.7%	8.3%
	0.9%	9.7%
	0.0%	3.9%
	0.0%	2.2%
	0.4%	0.8%
	1.3%	1.1%
Housing Units by Year Structure Built
	0.0%	0.2%
	12.3%	13.6%
	12.3%	13.6%
	19.7%	13.6%
	15.9%	13.2%
	16.8%	14.8%
	19.7%	13.6%
	5.5%	10.0%
	3.1%	4.7%
	13.1%	12.2%

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