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Real Estate Prices & Overview

Balsam median real estate price is $189,883, which is more expensive than 31.9% of the neighborhoods in Michigan and 19.4% of the neighborhoods in the U.S.

The average rental price in Balsam is currently $1,030, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 96.0% of Michigan neighborhoods.

Balsam is a remote neighborhood (based on population density) located in Crystal Falls, Michigan.

Balsam real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) single-family homes and mobile homes. Most of the residential real estate is owner occupied. Many of the residences in the Balsam neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.

Vacant apartments or homes are a major fact of life in Balsam. The current real estate vacancy rate here is 48.8%. This is higher than the rate of vacancies in 98.6% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (42.9%). This can occur in vacation areas, and occasionally it is also found in neighborhoods that are primarily filled with college students, as some apartments could be vacant when school is not in session. If you live here year round, you may find that a number of buildings in your neighborhood are actually empty.

Notable & Unique Neighborhood Characteristics

When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.

Real Estate

Uncrowded roads, rural America and space to be the individual you are. If you like these characteristics, this neighborhood may fit you. With just 6 residents per square mile, Balsam is less crowded than 98.1% of all U.S. neighborhoods. One of the notable things about Balsam is that it is one of the quietest neighborhoods in America, according to NeighborhoodScout's exclusive analysis and quantitative rating of quietness. When you are here, you will find it to be very quiet. If quiet and peaceful are your cup of tea, you may have found a great place for you.

In addition, vacant homes and apartments are a significant characteristic of this neighborhood. In fact, with 48.8% of the residential real estate vacant, the Balsam neighborhood claims the distinction of having a higher vacancy rate than 98.6% of the neighborhoods in America. This can either be because much of the property is seasonally occupied, like in many vacation areas, or that much of the real estate is more permanently abandoned.

People

If you're planning where to retire, the Balsam neighborhood in Crystal Falls is a great option to consider. According to NeighborhoodScout's exclusive retirement dream area analysis, it's peaceful and quiet, has above average safety ratings compared to other neighborhoods in MI, offers a wide range of housing options, and has already attracted an enviable mix of college educated seniors. This neighborhood ranks as better for retirement living than 89.5% of the neighborhoods in Michigan. If you are considering retiring to Michigan, this is a good neighborhood to look at.

Diversity

Did you know that the Balsam neighborhood has more Finnish and Danish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 10.9% of this neighborhood's residents have Finnish ancestry and 2.4% have Danish ancestry.

Balsam is also pretty special linguistically. Significantly, 11.2% of its residents five years old and above primarily speak Polish at home. While this may seem like a small percentage, it is higher than 98.5% of the neighborhoods in America.

The Neighbors

There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.

The neighbors in the Balsam neighborhood in Crystal Falls are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 78.3% of U.S. neighborhoods. With 17.5% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 64.6% of U.S. neighborhoods.

The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.

In the Balsam neighborhood, 37.7% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 25.6% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (19.2%), and 15.3% in sales and service jobs, from major sales accounts, to working in fast food restaurants.

Languages

The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Balsam neighborhood is English, spoken by 97.6% of households. Other important languages spoken here include Italian and Polish.

Ethnicity / Ancestry

Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.

In the Balsam neighborhood in Crystal Falls, MI, residents most commonly identify their ethnicity or ancestry as German (14.5%). There are also a number of people of Italian ancestry (13.2%), and residents who report Irish roots (11.6%), and some of the residents are also of Finnish ancestry (10.9%), along with some Polish ancestry residents (10.0%), among others.

Getting to Work

Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Balsam neighborhood spend under 15 minutes commuting one-way to work (46.9% of working residents), one of the shortest commutes across America.

Here most residents (84.4%) drive alone in a private automobile to get to work. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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