Belding, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Belding, MI Real Estate Data


Belding Housing Market Information

With a population of 5,769, 2,100 total housing units (homes and apartments), and a median house value of $80,730, house prices in Belding 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 Belding, accounting for 66.86% of the city's housing units. Other types of housing that are prevalent in Belding include large apartment complexes or high rise apartments ( 14.67%), duplexes, homes converted to apartments or other small apartment buildings ( 9.06%), and a few row houses and other attached homes ( 5.48%).

The most prevalent building size and type in Belding are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 62.74% owning and 37.26% renting.

The housing in Belding was primarily built before 1939 ( 36.89%), making the housing stock in Belding some of the oldest overall in America, although there is a range of ages of homes in Belding. The next most important housing age is between 1970-1999 ( 30.94%), followed by between 1940-1969 ( 24.70%). There's also some housing in Belding built between 2000 and later ( 7.46%).

Vacant housing appears to be an issue in Belding. Fully 11.47% of the housing stock is classified as vacant. Left unchecked, vacant Belding homes and apartments can be a drag on the real estate market, holding Belding 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.

Belding Home Appreciation Rates

Homes have actually lost value in Belding over the last then years, as home values have seen a decline of 19.89% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Belding home appreciation rates at 1.43%, which equates to an annual appreciation rate of 5.84%.

Over the last year, Belding appreciation rates have trailed the rest of the nation. In the last twelve months, Belding's appreciation rate has been 3.22%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Belding were at 1.43%, which equates to an annual appreciation rate of 5.84%.

Relative to Michigan, our data show that Belding's latest annual appreciation rate is lower than 80% of the other cities and towns in Michigan.

Average Home Values

 

Median Home Value:
$80,730

Belding, MI HOME PRICES

Value Range
> $1,134,000 0.0
$851,001 - $1,134,000 0.0
$567,001 - $851,000 0.0
$453,001 - $567,000 0.0
$340,001 - $453,000 0.0
$227,001 - $340,000 1.0
$113,001 - $227,000 23.9
$57,001 - $113,000 49.3
$0 - $57,000 25.9

Very Low for MI
Very Low for Nation

Value Relative to Nation Value Relative to State
90.9351759676758 92.3076923076923

Number Of Homes And Apartments:
2,100

Rent & Ownership

 

Average Market Rent:
$770 / per month

Homeownership Rate

Homeownership
Owners 62.74
Renters 37.26
Vacant 11.47

Housing Market Details

 

Age of Homes

AGE OF Belding HOMES
2000 or Newer 7.5
1970 - 1999 30.9
1940 - 1969 24.7
1939 or Older 36.9

Types of Homes

TYPE OF Belding HOMES
Single-Family 66.9
Townhomes 5.5
Small Apt. Buildings 9.1
Apt. Complexes 14.7
Mobile Homes 3.9
Other 0.0

Home Size

SIZE OF Belding HOMES
No Bedroom 0.80
1 Bedroom 16.82
2 Bedrooms 19.77
3 Bedrooms 42.24
4 Bedrooms 17.24
5 or more bedrooms 3.12

Belding Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
-5.43% -0.33% 2 1
* 10 is highest