Median price for residential apartments in Michigan City, IN as of Jan, 2023.
Take into account that the price depends on the location and condition of the apartment. The size and amenities might have a large influence on the asking price as well.
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315 Michigan City, IN, USA apartments for sale
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Michigan City
According to statistics, the population in Michigan City, IN amounts to 31,352, which shows decline 0% compared to the previous year. The median age of the city’s residents is 37. The average household income is $38,631, shifting growth 2% from the past year, and the average property value in Michigan City, IN decline -1% to $89,000 throughout the year.
| Population | 31,352 |
| Median Age | 37.1 |
| Poverty Rate | 25% |
| Household Income | $38,631 |
| Number Of Employees | 12,782 |
| Median Property Value | $89,000 |
Household Income
The average household income in Michigan City, IN grew from $37,742 to $38,631 in the past year. This data is an estimate based upon 12,729 households in Michigan City, IN . The chart below presents how household income is distributed in Michigan City, IN in comparison to the revenue allocation amid households nationally.
Property Value
According to data from last year, the average property value in Michigan City, IN shifted from $90,200 to $89,000 throughout the year. The subsequent graph indicates the share of properties in the given price range in Michigan City, IN in comparison to the median property value in the same price segment across the country. According to the data, the greatest share of Michigan City, IN properties falls in the '$100,000 to $124,999' range, which is lower than the most significant median property across the country.
Rent vs. Own
Property Taxes
One of the most important aspects for property owners is the amount of property taxes. This graph shows distribution of property taxes in Michigan City, IN compared to median property taxes around the country. The prevalent amount of property taxes in Michigan City, IN equals $800, which is less than the national average.
Housing Trends
How much does an apartment cost in Michigan City, IN, USA
Average apartment sale in Michigan City: $175,718 (-0.1%)
| Apartment Size | Jan | vs Last Month |
|---|---|---|
| Studio apartments | $98,326 | +1.1% |
| 1-bed apartments | $354,166 | -10.3% |
| 2-bed apartments | $221,744 | -12.8% |
| 3-bed apartments | $206,657 | +5.3% |
| 4+ bed apartments | $214,886 | +4.9% |
During Jan 2023, the average price for an apartment in/near Michigan City, IN decreased by 0.1% to $175,718.
Knowing the current property prices is key if you plan to buy a studio in Michigan City, IN. The average price for a studio has increased since the last month, currently being $98,326. After collecting all data points, we now see that the average price for 1-bed apartment decreased by 10.3% to $354,166. Asking price for 2-bed apartment also decreased by 12.8% and a place of this size will now cost you $221,744. A 3-bed apartment goes for $206,657, it increased by 5.3% lately. We discerned the rise of 4- and more bed apartment price. It increased by 4.9% and made it up to $214,886.
| Listing Type | Jan | vs Last Month |
|---|---|---|
| Other for sale | $134,000 | +0% |
| Lofts for sale | $1,250,000 | +0% |
| Houses for sale | $184,068 | -1.8% |
| Condos for sale | $221,218 | +23.1% |
| Land for sale | $98,526 | +1.6% |
Price reports demonstrate that house price decreased by 1.8% this month making it up to $184,068. Condos are really in demand in this season. The median price for a condo increased by 23.1%, it’s now available for $221,218. The price statistics of lofts have not significantly changed, it now still goes for $1,250,000. The average price of the land for sale in Michigan City, IN has increased by 1.6%, and now equals $98,526. Other types of properties for sale would cost $134,000 on average. Our data shows that this amount has stayed roughly the same compared to Dec.
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