Cheap Homes in New Lothrop, MI

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Top Reasons To Live In New Lothrop, MI In 2024

New Lothrop is located in Shiawassee, Michigan, with an estimated municipal population of 554 residents. All of the best foreclosed homes for sale in New Lothrop are located in the following zip code areas on 48460. The estimated population per square kilometer (.62 miles) in New Lothrop is 247.

Cost Of Living In New Lothrop, MI

So, about how much do homes cost in New Lothrop? The most recent median value of resident-owned homes in New Lothrop is 115,158. An estimated 62.4 percent of households in New Lothrop own their homes, with an average family size of 3.19. The median household income in New Lothrop is 46,563, with16.3 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in New Lothrop, the median commute time of resident workers (in minutes) is 32.6. And last, but certainly not least, are you looking for homes to rent in New Lothrop? If so, the average rent price paid by renters in New Lothrop is 750, according to recent statistics.

Diversity And Demographics In New Lothrop, Michigan

Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to New Lothrop, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.

The median age of residents in New Lothrop is 33.5, split between 49 percent male versus 51 female. The percentage of residents who report being married in New Lothrop is 58.1, with an average family size of 3.19.

The percentage of residents who report their race in New Lothrop is as follows:

White 88.2%
Black / African American 6.8%
Asian 0.5%
American Indian / Alaskan Native 0.5%
Native Hawaiian / Other Pacifc Islander 0%
Multi-racial 3.3%
Other 0.6%

Looking for family-friendly neighborhoods in and/or near New Lothrop? Or maybe you are searching for 55+ active adult communities in and/or near New Lothrop?

The percentage of residents who report their age in New Lothrop is as follows:

Under 10 13%
Aged 10-19 16.3%
20s 16.1%
30s 9.4%
40s 13.2%
50s 11.3%
60s 11.2%
70s 6.9%
80+ 2.7%

Best Schools In New Lothrop, Michigan

It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in New Lothrop with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in New Lothrop.

Pros And Cons Of Living In New Lothrop, Michigan

How do you know that living in -- or moving to -- New Lothrop is right where you need to be? Perhaps you grew up in New Lothrop or already live nearby; therefore, the decision to buy a home in New Lothrop is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to New Lothrop for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.

Here are some questions to ask yourself when shopping for foreclosed homes for sale in New Lothrop:

  • What type of neighborhood environment (suburban, urban, rural, etc.) do you prefer?
  • What types of shopping (mom and pop, mall, big box), restaurants (fast food, chain, local) and businesses (small, big, mixed) would you like nearby?
  • What leisure-time activities (golf, biking, hiking, etc.) do you enjoy?
  • What type of commute (car, plane, home office) do you seek?

In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like New Lothrop.

Reasons To Move To New Lothrop, Michigan, In 2024

Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in New Lothrop can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in New Lothrop, meanwhile, can field multiple offers from more qualified buyers.

Cheap Homes in New Lothrop, MI


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