Tuesday, July 31, 2018

Property values in small Midwestern towns

My walk was not all rural.  Sometimes I had to walk through a town.

I got to wondering about the property values in those towns.

The four communities on the right side of the chart are included for reference.  You can click to embiggen.
The chart shown above is the median price per square-foot of housing.  It ranges from a low of $63/sq-ft in Albion (a college town!) to $114/sq-ft in Allendale (another college town).

I took this photo because of the cat on the porch but it is probably about 1000 square feet.
Said another way: It would not be difficult to find a 1200 sq-ft, "retirement" bungalow for $75,000 in Albion or for $135,000 in Allendale, Middleville or Steuben County.

This is a zoom of the picture shown at the top.
This is a block in crowded, downtown Montgomery, Michigan.  Montgomery is too small to have "statistics" but it is five miles south of Reading, Michigan and one mile north of Steuben County, Indiana.

This crowded, downtown block has lots that average 1/3 of an acre.  That is, nine dwellings on a block that measures 300 feet wide by 430 feet long.

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