Hardwood Acres CDP Michigan Area Home Supply Charts

This page looks at a variety of Hardwood Acres CDP Michigan housing market data taken from the most recent 2022 American Community Survey census data. Housing units are structures such as a single family home, apartment community, mobile home park, public housing, etc. where a person or family live and live separately from other residents of the building. Figure 1 shows the total number of housing units for each city. Hardwood Acres CDP shows it has a Housing Units of 195 which is the third most housing units of all other places in the greater Hardwood Acres CDP region.

Figure 2 illustrates the housing density in the Hardwood Acres CDP housing market as measured by housing units per square land mile (includes single family homes, apartments, etc.) Hardwood Acres CDP depicts it has a Housing Density of 373.0 which is the third most housing densities of all other places in the greater Hardwood Acres CDP region. The place with the highest housing density in the area is Grawn CDP which depicts a density of 637.4 (70.9% larger). Comparing housing density to the United States average of 39.5, Hardwood Acres CDP is substantially bigger. Also, benchmarked against the state of Michigan, housing density of 81.0, Hardwood Acres CDP is approximately 4.6 times bigger.

In Figure 4, Hardwood Acres CDP area change in the number of housing units and is a forward gauge (along with population change) for any potential housing shortage. Hardwood Acres CDP depicts it has a Housing Unit Change of 25.8% which is the second most housing units of all the places in the greater Hardwood Acres CDP region. The place with the highest change in the housing units in the area is Grawn CDP which shows a housing units of 26.2% ( only slightly larger). Comparing change in the housing units to the United States average of 7.4%, Hardwood Acres CDP is approximately 3.5 times bigger. Also, versus the state of Michigan, change in the housing units of 0.8%, Hardwood Acres CDP is very much bigger.

Figure 5 shows the percentage of rental property based on that they are occupied by renters as a percent of the total number of households in the community (including homes, apartments, etc.) Hardwood Acres CDP shows it has a Renter Percent of 24.6% which is the second most of all the places in the local area. Figure 6 illustrates the total number of housing units that are occupied by owners. it has a Owner Percent of 75.4% which is the second smallest when sorted by owner percent of all the other places in the metropolitan area.

Hardwood Acres CDP Michigan Home Cost Charts

Looking at the housing data provided in Figure 7, the average Hardwood Acres CDP home price is illustrated for this community and a useful analysis of affordable housing. Hardwood Acres CDP shows it has a Median Home Value of $192,200 which is the third most median home prices of all other places in the greater Hardwood Acres CDP region. The place with the highest median home price in the area is Lake Ann which depicts a home price of $265,000 (37.9% larger).

Figure 9 provides the frequency distribution of home prices for the area and is useful for understanding affordable housing fund. Hardwood Acres CDP has the largest proportion of home price worth between $100,000 to $200,000 at 41% of the total and is ranked #1.

Median owner costs for the real estate market are shown in Figure 10 and include the costs associated with any mortgage, utility expenses, insurance, and other miscellaneous costs. Hardwood Acres CDP shows it has a Median Owner Cost of $1,061 which is the second most of all the places in the greater region. Figure 11 shows the median amount of cost as a percent of total household income for people who own homes in the Hardwood Acres CDP metro area. it has a Owner Cost as % of HH Income of 16% which is less than most other places in the local area.

The next chart, Figure 12, provides a comparison chart of the median home cost as a percent of a median worker take home earnings and is thus a valuable measure of affordable housing. Hardwood Acres CDP depicts it has a Median Home Value as Percent of Median Earnings of 407% which is the third most median home value as a percent of median worker earnings of all other places in the greater Hardwood Acres CDP region.

Figure 14 depicts the median cost of housing for owners with also have a mortgages (versus those who do not have a mortgage because mortgage cost is included.) Hardwood Acres CDP depicts it has a Median Owner Costs-With Mortgage of $1,113 which is in the middle range of other places in the greater region.

Figure 16 shows the distribution in total housing cost for owners of property (so not renters.) This cost includes mortgages, lines of credit interest, utilities, taxes, insurance, etc. Hardwood Acres CDP has one of the largest proportions of owner cost between $500 and $700 at 31% of the total and is ranked #3. Only #2 Interlochen CDP (40%), and #1 Maple Grove CDP (60%) are larger. Second, it has the largest proportion of owner cost between $1,000 and $1,500 at 28% of the total and is ranked #1.

Next shown in Figure 17 is the housing cost as a percent of household income for people who own their homes and have a mortgages (thus the cost of financing the home is included.) Hardwood Acres CDP depicts it has a % of Income Owner Costs-With Mortgage of 15% which is less than most other places in the metropolitan area. The place with the highest cost as a percent of household income in the area is Bendon CDP which indicates a cost as a percent of household income of 33% (approximately 2.2 times bigger).

Figure 19 looks at the cost of rent for rental property using the percent of total household income which is a valuable measure of financial health for the area. (The higher the proportion of rent payments to total household income is a sign of greater financial stress. Also, rent can be covered by rent assistance and rent assistance programs in the form of rent assistance.) Hardwood Acres CDP has the largest proportion of rent as a percent of income is less than 10 pct at 100% of the total and is ranked #1.

Figure 20 shows the total housing cost for both home owners and apartment community renters in the area. Hardwood Acres CDP has the largest proportion of housing cost between $700 and $1,000 at 47% of the total and is ranked #1. Second, it has the largest proportion of housing cost between $1,000 and $1,500 at 21% of the total and is ranked #1.

Figure 21 shows median amount of real estate taxes paid for home owners in the region. it has a Median Real Estate Taxes Paid of $1,725 which is in the mid point range of other places in the local area. The place with the highest median real estate taxes paid in the area is Maple Grove CDP which shows a taxes paid of $2,478 (43.7% larger). Comparing median real estate taxes paid to the United States average of $2,690, Hardwood Acres CDP is approximately three-fourths the size. Also, in comparison with the state of Michigan, median real estate taxes paid of $2,551, Hardwood Acres CDP is approximately three-fourths the size.

Figure 23 shows the rental rate distribution for this area. Hardwood Acres CDP Michigan has the largest proportion of rent between 750 and 1000 dollars at 100% of the total and is ranked #1.

Hardwood Acres CDP Michigan Home Financing Charts

The analysis in Figure 25 shows the detailed distribution of owned homes by mortgage status. Hardwood Acres CDP has the largest proportion of With mortgage at 88% of the total and is ranked #1. Second, it has the smallest proportion of With HELOC no Primary Mortgage at 12% of the total.

Figure 26 shows the proportion of houses with a mortgage versus those without a mortgage. Hardwood Acres CDP has the smallest proportion of houses with mortgages at 12% of the total.

Hardwood Acres CDP Michigan Home Characteristics Charts

Figure 28 shows the household size for families living in the area and it has a Family size of 3.9 which is the second most family members per housing unit of all the places in the greater Hardwood Acres CDP region. The place with the highest family members per housing unit in the area is Cedar CDP which depicts a family members per housing unit of 4.4 (11.3% larger). Comparing family members per housing unit to the United States average of 3.3, Hardwood Acres CDP is 19.1% larger. Also, benchmarked against the state of Michigan, family members per housing unit of 3.2, Hardwood Acres CDP is 23.6% larger.

Figure 29 show the median number of rooms in a typical home for each location in this area. it has a Median Number of Rooms of 5.8 which is in the mid point range of other places in the surrounding region. The place with the highest average number of rooms in a house in the area is Bendon CDP which depicts an average number of rooms in a house of 6.3 (8.6% larger). Figure 30 shows, for the average house in each location, the median year that a house was built. This can be useful for understanding the relative age of one neighborhood versus another for a real estate investor. it has a Median Year Built of 1991 which is the third most year built of all other places in the greater Hardwood Acres CDP region. The place with the highest year built in the area is Interlochen CDP which shows a year built of 2004 ( about the same size).

Figure 31 looks at the distribution of housing units by the median age that the homes were built. it has one of the largest proportions of homes built between 2000 to 2009 at 42% of the total and is ranked #2. The only larger place being Bendon CDP with 59%. Second, it has the largest proportion of homes built between 1990 to 1999 at 47% of the total and is ranked #1.

Figure 32 shows the difference in the number of housing units based on whether they are occupied by owners versus occupied by renters. it has one of the largest proportions of owner housing units at 48 of the total and is ranked #2. The only larger place being Grawn CDP with 49.

Figure 34 shows the median value of homes broken down by the median year that the homes were built. it has one of the largest proportions of value of homes built 2000 to 2009 at $216,300 of the total and is ranked #3. Only #2 Lake Ann ($241,700), and #1 Bendon CDP ($329,500) are larger.

The next two charts show both the average household size of homeowners versus the average household size of renters. Starting with Figure 36 we see the household size of homeowners for Hardwood Acres CDP residents. it has a Owner-Household Size of 4.0 which is ranked #1 of all places in the local area.

Figure 37 shows the household size for renters. Hardwood Acres CDP depicts it has a Renter-Household Size of 2.8 which is the third most renter household sizes of all other places in the greater Hardwood Acres CDP region. The place with the highest renter household size in the area is Lake Ann which shows a renter household sizes of 3.7 (31.5% larger). Figure 38 shows the year that people who own homes moved into this region. it has one of the largest proportions of owners moved in 2019 or later at 46% of the total and is ranked #2. The only larger place being Interlochen CDP with 67%. Second, it has one of the largest proportions of owners moved in 2000 to 2009 at 37% of the total and is ranked #2. The only larger place being Maple Grove CDP with 79%. Figure 39 shows the year that people who rent moved into the area. Hardwood Acres CDP has the largest proportion of renters moved in 2019 or later at 100% of the total and is ranked #1.

Figure 40 compares the median year that home owners moved into their home. it has a Owner Median Year Moved In of 2005 which is the third most of all other places in the local area.

Figure 42 shows the frequency distribution of various types of energy sources used for homes in the community. it has one of the largest proportions of homes using coal or coke at 10% of the total and is ranked #2. The only larger place being Maple Grove CDP with 31%.