Canton appreciation rates and housing market information

Canton housing market information

With 76,310 people, 28,426 houses or apartments, and a median cost of homes of $209,514, Canton real estate is some of the most expensive in Michigan, although Canton home values aren't among America's most expensive.

single-family detached homes are the single most common housing type in Canton, accounting for 63.20% of the town's housing units. Other types of housing that are prevalent in Canton include large apartment complexes or high rise apartments (16.85%), row houses and other attached homes (8.64%), mobile homes or trailers (8.28%), and a few duplexes, homes converted to apartments, or other small apartment buildings (3.00%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in Canton. Owner-occupied housing accounts for 76.55% of Canton's homes, and 66.65% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Canton built from 1970-1994, so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Canton built from 1995 and later (21.90%). A lesser amount of the housing stock also hails from 1940-1969 (9.70%), and some were built from 1939 and earlier (9.70%).

Canton home appreciation rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Canton, where house values have increased just 1.73%, which is an average annual increase of 0.17%. NeighborhoodScout's data show that in the latest quarter, Canton house values appreciated 2.79%, which is an annualized rate of 11.16%. This rate is lower than the appreciation rate found in 10% of the cities and towns in America.

Over the last year, Canton appreciation rates have trailed the rest of the nation. In the last twelve months, Canton's appreciation rate has been -11.90%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Canton were at 2.79%, which equates to an annual appreciation rate of 11.16%.

Importantly, this makes Canton one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.

Relative to Michigan, our data show that Canton's latest annual appreciation rate is higher than 3% of the other cities and towns in Michigan.

One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Canton differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Canton - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 1990, to assist you in making the best Canton real estate investment or home purchase decisions.