In order to analyze the market value of owned homes by type of area we have broken the national home ownership data into the following categories:

1. The average market value of owned home in Urban areas.
2. The average market value of owned home in Rural areas.

The results of this analysis were of course not surprising at all. On average a home in an urban area was worth $141,803 in 2014 and a home in a rural area was worth $109,405. What is surprising however is the fact that homes in rural areas are showing a slightly higher appreciation of 12.9% during the time frame of 2004 to 2013 as compared to a 11.3% appreciation in the value of urban homes.

This appreciation in the value of rural homes can be attributed to the fact that homes in urban areas did see a huge spike up in their valuation during the real estate bubble of 2006. However some of the steepest falls in in home values have been recorded in the same urban areas which have also seen very high rates of foreclosures and properties being under water where homeowners actually owe more on their mortgages than the value of their properties.

The difference in the market value of homes in rural areas versus home in urban areas is 30% on average - thus homes in urban areas over the years have been 30% higher in market value than their rural counterparts.

From the vantage point of James and Carmine of Dependable Roofing, there is no difference from a roof on a home in a rural setting versus one in an urban setting like Grand Rapids. The only thing that they will have to factor in when pitching for jobs situated in rural areas of Kent county, is the time and distance it takes for them to travel back and forth from the job.

Quick Links:

1. Go to the Corresponding Template section for this industry.
2. Go to the Corresponding Questionnaire section for this industry.