Trend of Rental Yield in Iron County, Michigan

Gavop is a real estate, housing & local data & analytics service. We get data from public sources such as the census bureau & private databases. Our data can be used by real estate and organizations to get further insights into local market dynamics. We analyzed rental yield trends from 2009 and 2015 for all counties in the U.S. Rental yields are impacted by factors such as home location, home facilities, employment opportunities, strata levies, and council rates

The key elements in the research are

1. Median Gross Rent
2. Median Home Value

 

Our key findings

• % Change Population: Iron County under performed than Michigan by -2.1
• % Change Population: Iron County under performed than US by -8.5
• CAGR Population: Iron County under performed than state by -0.4
• CAGR Population: Iron County under performed than US by -1.4
• % Change Median Gross Rent: Iron County out performed than Michigan by 7.6
• % Change Median Gross Rent: Iron County out performed than US by 4.5
• CAGR Median Gross Rent: Iron County out performed than state by 1.1
• CAGR Median Gross Rent: Iron County out performed than US by 0.7
• % Change Home Value: Iron County out performed than Michigan by 14.8
• % Change Home Value: Iron County out performed than US by 1.4
• CAGR Home Value: Iron County out performed than state by 2.7
• CAGR Home Value: Iron County out performed than US by 0.2
• % Change Rental Yield: Iron County under performed than Michigan by -12.3
• % Change Rental Yield: Iron County out performed than US by 2.9
• CAGR Rental Yield: Iron County under performed than state by -1.7
• CAGR Rental Yield: Iron County out performed than US by 0.4

County	Iron County
Population 2015	11,507
Population 2009	11,923
Population % change	-3.5
Population change rank compared to US	2,793
Population change rank compared to Michigan	66
Median Gross Rent 2015	516
Median Gross Rent 2009	437
Median Gross Rent % change	18.1
Median Gross Rent change rank compared to US	1,081
Median Gross Rent change rank compared to Michigan	13
Home Value 2015	74,400
Home Value 2009	76,100
Home Value % change	-2.2
Home Value change rank compared to US	2,437
Home Value change rank compared to Michigan	16
Rental Yield 2015	8.3
Rental Yield 2009	6.9
Rental Yield % change	20.8
Rental Yield change rank compared to US	624
Rental Yield change rank compared to Michigan	54