Ann Arbor MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Ann Arbor, MI Real Estate Data

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Ann Arbor Housing Market Information

With 121,890 people, 1,588 houses or apartments, and a median cost of homes of $416,662, Ann Arbor house prices are not only among the most expensive in Michigan, Ann Arbor real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Ann Arbor, accounting for 46.46% of the city's housing units. Other types of housing that are prevalent in Ann Arbor include large apartment complexes or high rise apartments ( 34.98%), duplexes, homes converted to apartments or other small apartment buildings ( 8.68%), and a few row houses and other attached homes ( 8.16%).

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.

There is a lot of housing in Ann Arbor built from 1970 to 1999 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 Ann Arbor built between 1940-1969 ( 31.05%). A lesser amount of the housing stock also hails from before 1939 ( 13.89%). There's also some housing in Ann Arbor built between 2000 and later ( 13.89%).

Ann Arbor Home Appreciation Rates

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 68.01% over the last ten years, which is an average annual home appreciation rate of 5.33%, putting Ann Arbor in the top 10% 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.

Over the last year, Ann Arbor appreciation rates have trailed the rest of the nation. In the last twelve months, Ann Arbor's appreciation rate has been 1.97%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Ann Arbor were at 0.28%, which equates to an annual appreciation rate of 1.14%.

Notably, Ann Arbor's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Michigan, our data show that Ann Arbor's latest annual appreciation rate is lower than 80% 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.

Average Home Values

 

Median Home Value:
$416,662

Ann Arbor, MI HOME PRICES

Value Range
> $1,242,000 1.3
$931,001 - $1,242,000 4.8
$621,001 - $931,000 12.4
$497,001 - $621,000 12.5
$372,001 - $497,000 21.7
$248,001 - $372,000 23.4
$124,001 - $248,000 17.2
$62,001 - $124,000 4.0
$0 - $62,000 2.7

Very High for MI
Very High for Nation

Value Relative to Nation Value Relative to State
11.2759124087591 2.88461538461538

Number Of Homes And Apartments:
1,588

Ann Arbor Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
2020 Q1 - 2020 Q2
Last 12 Months:
2019 Q2 - 2020 Q2
Last 2 Years:
2018 Q2 - 2020 Q2
Last 5 Years:
2015 Q2 - 2020 Q2
Last 10 Years:
2010 Q2 - 2020 Q2
Since 2000:
2000 Q1 - 2020 Q2
67.29% 2.54%
10
5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,523 / per month

Homeownership Rate

Homeownership
Owners 48.52
Renters 51.48
Vacant 6.50

Housing Market Details

 

Age of Homes

AGE OF Ann Arbor HOMES
2000 or Newer 13.9
1970 - 1999 41.2
1940 - 1969 31.1
1939 or Older 13.9

Types of Homes

TYPE OF Ann Arbor HOMES
Single-Family 46.5
Townhomes 8.2
Small Apt. Buildings 8.7
Apt. Complexes 35.0
Mobile Homes 1.7
Other 0.0

Home Size

SIZE OF Ann Arbor HOMES
No Bedroom 3.68
1 Bedroom 13.88
2 Bedrooms 30.75
3 Bedrooms 26.36
4 Bedrooms 19.79
5 or more bedrooms 5.55