Bay City, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Bay City Neighborhoods Since 2000




Bay City, 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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

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

Bay City Housing Market Information

With a population of 33,917, 14,139 total housing units (homes and apartments), and a median house value of $68,754, house prices in Bay City are some of the most affordable in Michigan as well as the nation.

Single-family detached homes are the single most common housing type in Bay City, accounting for 75.26% of the city's housing units. Other types of housing that are prevalent in Bay City include duplexes, homes converted to apartments or other small apartment buildings ( 11.78%), large apartment complexes or high rise apartments ( 9.16%), and a few row houses and other attached homes ( 2.29%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Bay City. Owner-occupied housing accounts for 68.36% of Bay City's homes, and 55.74% have either three or four bedrooms, which is average sized relative to America.

The housing in Bay City was primarily built before 1939 ( 44.91%), making the housing stock in Bay City some of the oldest overall in America, although there is a range of ages of homes in Bay City. The next most important housing age is between 1940-1969 ( 39.81%), followed by between 1970-1999 ( 13.38%). There's also some housing in Bay City built between 2000 and later ( 1.90%).

Vacant housing appears to be an issue in Bay City. Fully 12.37% of the housing stock is classified as vacant. Left unchecked, vacant Bay City homes and apartments can be a drag on the real estate market, holding Bay City real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Bay City Home Appreciation Rates

Homes have actually lost value in Bay City over the last then years, as home values have seen a decline of 23.16% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Bay City home appreciation rates at -1.22%, which equates to an annual appreciation rate of -4.80%.

Over the last year, Bay City appreciation rates have trailed the rest of the nation. In the last twelve months, Bay City's appreciation rate has been 2.30%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Bay City were at -1.22%, which equates to an annual appreciation rate of -4.80%.

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

Relative to Michigan, our data show that Bay City'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 Bay City differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Bay City - 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 Bay City real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$68,754

Bay City, MI HOME PRICES

Value Range
> $1,014,000 0.4
$761,001 - $1,014,000 0.3
$507,001 - $761,000 0.7
$406,001 - $507,000 0.3
$304,001 - $406,000 0.7
$203,001 - $304,000 1.5
$101,001 - $203,000 13.6
$51,001 - $101,000 56.5
$0 - $51,000 26.0

Very Low for MI
Very Low for Nation

Value Relative to Nation Value Relative to State
95.7810851986406 95.3525641025641

Number Of Homes And Apartments:
14,139

Bay City Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
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
Since 2000:
2000 Q1 - 2017 Q1
-15.19% -0.95% 1 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$667 / per month

Homeownership Rate

Homeownership
Owners 68.36
Renters 31.64
Vacant 12.37

Housing Market Details

 

Age of Homes

AGE OF Bay City HOMES
2000 or Newer 1.9
1970 - 1999 13.4
1940 - 1969 39.8
1939 or Older 44.9

Types of Homes

TYPE OF Bay City HOMES
Single-Family 75.3
Townhomes 2.3
Small Apt. Buildings 11.8
Apt. Complexes 9.2
Mobile Homes 1.5
Other 0.0

Home Size

SIZE OF Bay City HOMES
No Bedroom 1.43
1 Bedroom 12.97
2 Bedrooms 26.49
3 Bedrooms 40.11
4 Bedrooms 15.64
5 or more bedrooms 3.37