Westland appreciation rates and housing market information

Westland housing market information

With a population of 86,660, 38,076 total housing units (homes and apartments), and a median house value of $129,070, house prices in Westland are solidly below the national average.

single-family detached homes are the single most common housing type in Westland, accounting for 56.06% of the city's housing units. Other types of housing that are prevalent in Westland include large apartment complexes or high rise apartments (28.81%), row houses and other attached homes (7.32%), duplexes, homes converted to apartments, or other small apartment buildings (4.86%), and a few mobile homes or trailers (2.89%).

The most prevalent building size and type in Westland are three and four bedroom single-family detached homes. The city has a mixture of owners and renters, with 60.17% owning, and 35.78% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Westland's housing was primarily built during this period, from the '40s through the '60s. A full 54.78% of the city's housing hails from this era. Other housing ages represented in Westland include homes built between 1970-1994 (36.74%), and housing constructed from 1995 and later (5.25%). There's also some housing in Westland built between 1939 and earlier (3.23%).

Westland home appreciation rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Westland, where house values have increased just 11.74%, which is an average annual increase of 1.17%. NeighborhoodScout's data show that in the latest quarter, Westland house values appreciated 3.04%, which is an annualized rate of 12.16%. This rate is lower than the appreciation rate found in 10% of the cities and towns in America.

Over the last year, Westland appreciation rates have trailed the rest of the nation. In the last twelve months, Westland's appreciation rate has been -10.90%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Westland were at 3.04%, which equates to an annual appreciation rate of 12.16%.

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

Relative to Michigan, our data show that Westland's latest annual appreciation rate is higher than 4% 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 city. Individual neighborhoods within Westland differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Westland - 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 Westland real estate investment or home purchase decisions.