Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With 117,070 people, 47,179 houses or apartments, and a median cost of homes of $293,727, Ann Arbor real estate is some of the most expensive in Michigan, although Ann Arbor home values aren't among America's most expensive.
Single-family detached homes are the single most common housing type in Ann Arbor, accounting for 41.75% of the city's housing units. Other types of housing that are prevalent in Ann Arbor include large apartment complexes or high rise apartments ( 36.64%), row houses and other attached homes ( 10.90%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 10.27%).
People in Ann Arbor primarily live in small (one, two or no bedroom) single-family detached homes. Ann Arbor has a mixture of owner-occupied and renter-occupied housing.
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. Ann Arbor's housing was primarily built during this period, from the '40s through the '60s. A full 38.43% of the city's housing hails from this era. Other housing ages represented in Ann Arbor include homes built between 1970-1999 ( 38.10%) and housing constructed before 1939 ( 15.29%). There's also some housing in Ann Arbor built between 2000 and later ( 8.18%).
In the last 10 years, Ann Arbor has experienced some of the highest home appreciation rates of any community in the nation. Ann Arbor real estate appreciated 18.41% over the last ten years, which is an average annual home appreciation rate of 1.70%, putting Ann Arbor in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Ann Arbor definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Appreciation rates are so strong in Ann Arbor that despite a nationwide downturn in the housing market, Ann Arbor real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Ann Arbor appreciation rates continue to be some of the highest in America, at 7.18%, which is higher than appreciation rates in 82.36% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Ann Arbor. Ann Arbor appreciation rates in the latest quarter were at 2.57%, which equates to an annual appreciation rate of 10.67%.
Importantly, this makes Ann Arbor 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 Ann Arbor's latest annual appreciation rate is higher than 60% 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 Ann Arbor differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Ann Arbor - 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 2000, to assist you in making the best Ann Arbor real estate investment or home purchase decisions.
|$937,001 - $1,249,000||4.4|
|$625,001 - $937,000||7.0|
|$500,001 - $625,000||8.5|
|$375,001 - $500,000||17.2|
|$250,001 - $375,000||27.5|
|$125,001 - $250,000||25.1|
|$62,001 - $125,000||6.9|
|$0 - $62,000||2.7|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Ann Arbor HOMES|
|2000 or Newer||8.2|
|1970 - 1999||38.1|
|1940 - 1969||38.4|
|1939 or Older||15.3|
|TYPE OF Ann Arbor HOMES|
|Small Apt. Buildings||10.3|
|SIZE OF Ann Arbor HOMES|
|5 or more bedrooms||4.93|