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 5,965 people, 2,148 houses or apartments, and a median cost of homes of $152,683, 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 68.94% of the city's housing units. Other types of housing that are prevalent in Belding include large apartment complexes or high rise apartments ( 16.02%), duplexes, homes converted to apartments or other small apartment buildings ( 11.31%), and a few mobile homes or trailers ( 2.71%).
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 62.66% owning and 37.34% renting.
The housing in Belding was primarily built before 1939 ( 44.28%), 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 ( 24.31%), followed by between 1940-1969 ( 20.54%). There's also some housing in Belding built between 2000 and later ( 10.87%).
In the last 10 years, Belding has experienced some of the highest home appreciation rates of any community in the nation. Belding real estate appreciated 115.73% over the last ten years, which is an average annual home appreciation rate of 7.99%, putting Belding in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Belding 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 Belding that despite a nationwide downturn in the housing market, Belding real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Belding appreciation rates continue to be some of the highest in America, at 6.66%, which is higher than appreciation rates in 70.28% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Belding. Belding appreciation rates in the latest quarter were at -1.60%, which equates to an annual appreciation rate of -6.24%.
Notably, Belding's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Michigan, our data show that Belding's latest annual appreciation rate is lower than 50% of the other cities and towns in Michigan.
$152,683
for Michigan
for nation
2,148
$841 / per month