Are you on the hunt for a new home? Our real estate agents can help you kick start your search with our guide to houses for sale in Fenton, MI. Below, we have compiled an overview of Fenton, Michigan, for you to peruse, and if you feel that Fenton could well be your next home base, our real estate agents ae ready to show you their listings and secure you next family home.
First, a Few Facts About Fenton, MI Real Estate
Before we get into the nitty-gritty, here is a quick overview of home and rental facts:
- In Fenton, there is an average of 2.3 people per home, which is 6% lower than Michigan
- The median home price is $98,600 – that’s 18% lower than Michigan
- Of all the residents in the area, 58.5% are home owners – some 18% lower than Michigan
- The median rent in the area is $820, which is 5% higher than Michigan
Generally, real estate in Fenton, MI, is more affordable than the rest of the Michigan area, with the majority of residents in the city owning their own property. There is a fantastic variety of properties in Fenton, from urban townhouses to affordable condos, and highly luxurious houses. You can talk to a realtor about your requirements, budget, and housing desires to find the perfect property for you and your family in Fenton, MI.
Now, Let’s Talk Budget and Sales Trends in Fenton
When it comes to finding houses for sale in Fenton, Michigan, it is important to find a property that will comfortably fit within your budget. Your affordability should be based on your down payment, income, and outstanding debts. You can also consider property taxes, the length of the proposed mortgage term, HOA dues, and home insurance. Knowing how much you can afford to spend on a home in Fenton, MI, before you even contact a realtor at our offices, will help you to not fall head over heels for a home you may not be able to afford.
If the idea of budgeting sounds somewhat daunting, there is a method you can use to calculate real estate affordability: the home price to median household income ratio. Below is an example.
In Fenton, the median home price, as we mentioned, is $98,600 and the median household income is $42,153. Therefore, the home price to income ratio is 2.3x, which gives us the 4% lower than Michigan average.
We reached this calculation by dividing the median home price ($98,600) by the median home income ($42,153). What we get is a lower than average ratio which shows us that houses for sale in Fenton, Michigan, are easier on a homeowner’s budget compared to home income. Naturally, there are a range of other factors that should be considered when budgeting for a new home.
Our takeaway from these figures and calculations, however, is that current market trends in Fenton indicate a decrease of 7%, or $12,200 in median property sales in the past 12 months. During this same period, the average price per square foot has risen to $116 from $111. There has been a 0% rise in median rental per month in the area.
Getting to Know Fenton, MI
No doubt, before you even look at houses for sale in Fenton, MI, you want to know a couple of key facts about the area. Take a look at our summaries below:
Demographics
Neighbors certainly play a role in our decision on whether or not to move into an area. Fenton, MI’s current population is, on average, middle-age with a college education:
- The median age is 41
- 25% of residents in Fenton are single
- 89% of residents are homeowners
- 41% of residents have a college education
Crime
Knowing about crime in any area before you start talking to real estate agents can help keep you aware. It’s a good idea to compare two or more areas at a time in order to understand the safety of the locations. The current crime statistics for Fenton, MI look like this:
What Is It Like to Live in Fenton, Michigan?
If the current trends in Fenton, MI are stacking up to your expectations, you may want to delve a little further and find out what it is like to live in the area. Firstly, if you are not familiar with it, Fenton, MI is a small city within the state of Michigan. Currently, the population sits at just over 11,400 people and there are nine constituent’s neighborhoods.
The city has a fantastic mixture of workforce, including both white-collar and blue-collar workers. Generally, the city is made up of service providers, sales, and office workers, as well as a good selection of professionals. It has been reported that there are more people living in Fenton who work in math and computers than anywhere else in the United States. At present, the statistics look like this:
- Management positions – 8.69%
- Sales jobs – 13.52%
- Administrative and office support positions – 9.80%
Since Fenton, MI is a relatively small city, you will not find a public transit system here to get to and from work, with most residents owning their own vehicles.
As for the make-up of residents in Fenton, Michigan, most describe themselves as belonging to a mixture of ethnic and racial groups. The majority of residents in the city report to be White, followed by African-American. Some of the most dominant ancestries of people in the city include French, Irish, Polish, and English. English is the main language in Fenton, with Slavic and Arabic also being important languages spoken in the city.
We Have Houses for Sale in Fenton, MI
Fenton is a vibrant city filled with an exciting mixture of residents. If you are on the market for a new place to call home, get in touch with one of our realtors to discuss homes for sale in Fenton, Michigan.
Posted by Jennifer L on
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