There are currently 804 real estate properties in New Lothrop, MI, with a median automated valuation model (AVM) price of $208,781.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in New Lothrop, MI, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in New Lothrop, MI, is $236,453.00, with the most expensive house in New Lothrop, MI, topping out at $1,329,452.00 and the cheapest home in New Lothrop, MI, clocking in at $26,435.00. In other words, there’s something for every potential homebuyer or savvy investor in New Lothrop, MI!
With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in New Lothrop, MI, is on a rollercoaster ride. The average rent price in New Lothrop, MI, is $1,481.00. Indeed, when looking to rent in New Lothrop, MI, you can expect to pay as little as $840.00 or as much as $2,210.00, with the average rent median estimated to be $1,470.00. The good news is that finding an affordable and desirable property to rent in New Lothrop, MI -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.
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 Foreclosure.com: 48460. The estimated population per square kilometer (.62 miles) in New Lothrop is 247.
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.
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% |
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.
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:
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.
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.
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