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 about Scout's Real Estate Data
With 119,980 people, 1,588 houses or apartments, and a median cost of homes of $418,220, 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%).
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 68.24% over the last ten years, which is an average annual home appreciation rate of 5.34%, 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 1.61%, 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 0.75%, which equates to an annual appreciation rate of 3.02%.
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 90% 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.
|$935,001 - $1,246,000||4.8|
|$623,001 - $935,000||12.4|
|$499,001 - $623,000||12.5|
|$374,001 - $499,000||21.7|
|$249,001 - $374,000||23.4|
|$125,001 - $249,000||17.2|
|$62,001 - $125,000||4.0|
|$0 - $62,000||2.7|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2020 Q2 - 2020 Q3
Last 12 Months:
2019 Q3 - 2020 Q3
Last 2 Years:
2018 Q3 - 2020 Q3
Last 5 Years:
2015 Q3 - 2020 Q3
Last 10 Years:
2010 Q3 - 2020 Q3
2000 Q1 - 2020 Q3
|* 10 is highest|
|AGE OF Ann Arbor HOMES|
|2000 or Newer||13.9|
|1970 - 1999||41.2|
|1940 - 1969||31.1|
|1939 or Older||13.9|
|TYPE OF Ann Arbor HOMES|
|Small Apt. Buildings||8.7|
|SIZE OF Ann Arbor HOMES|
|5 or more bedrooms||5.55|