Belleville, MI Real Estate Market

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 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Belleville, MI Housing Market Trends

With a population of 3,896, 1,805 total housing units (homes and apartments), and a median house value of $159,529, house prices in Belleville are solidly below the national average.

Single-family detached homes are the single most common housing type in Belleville, accounting for 49.44% of the city's housing units. Other types of housing that are prevalent in Belleville include large apartment complexes or high rise apartments ( 23.19%), mobile homes or trailers ( 16.48%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.38%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Belleville. Owner-occupied housing accounts for 65.31% of Belleville's homes, and 52.70% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Belleville 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 Belleville built between 1940-1969 ( 23.19%). A lesser amount of the housing stock also hails from before 1939 ( 13.48%). There's also some housing in Belleville built between 2000 and later ( 4.07%).

Belleville Home Appreciation Rates

In the last 10 years, Belleville has experienced some of the highest home appreciation rates of any community in the nation. Belleville real estate appreciated 80.99% over the last ten years, which is an average annual home appreciation rate of 6.11%, putting Belleville in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Belleville 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, Belleville appreciation rates have trailed the rest of the nation. In the last twelve months, Belleville's appreciation rate has been 5.76%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Belleville were at 1.29%, which equates to an annual appreciation rate of 5.25%.

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

Relative to Michigan, our data show that Belleville's latest annual appreciation rate is lower than 60% 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 Belleville differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Belleville - 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 Belleville real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$159,529

Belleville, MI HOME PRICES

> $1,193,000
0.0%
0.0%
$895,001 - $1,193,000
0.0%
0.0%
$597,001 - $895,000
1.4%
1.4%
$477,001 - $597,000
0.4%
0.4%
$358,001 - $477,000
5.5%
5.5%
$239,001 - $358,000
19.1%
19.1%
$120,001 - $239,000
42.7%
42.7%
$59,001 - $120,000
11.3%
11.3%
$0 - $59,000
19.5%
19.5%
0.0% 100.0%
% OF HOMES
Value Relative To State

Low for Nation

Average for MI

Value Relative To Nation

Number Of Homes And Apartments:
1,805

Belleville Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
2020 Q4 - 2021 Q1
Last 12 Months:
2020 Q1 - 2021 Q1
Last 2 Years:
2019 Q1 - 2021 Q1
Last 5 Years:
2016 Q1 - 2021 Q1
Last 10 Years:
2011 Q1 - 2021 Q1
Since 2000:
2000 Q1 - 2021 Q1
8.25% 0.37%
1
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,073 / per month

Homeownership Rate

Owners
65.3%
65.3%
Renters
34.7%
34.7%
Vacant
8.2%
8.2%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
4.1%
4.1%
1970 - 1999
59.3%
59.3%
1940 - 1969
23.2%
23.2%
1939 or Older
13.5%
13.5%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
49.4%
49.4%
Townhomes
3.5%
3.5%
Small Apt. Buildings
7.4%
7.4%
Apt. Complexes
23.2%
23.2%
Mobile Homes
16.5%
16.5%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.5%
1.5%
1 Bedroom
16.6%
16.6%
2 Bedrooms
28.2%
28.2%
3 Bedrooms
40.6%
40.6%
4 Bedrooms
12.1%
12.1%
5 or more bedrooms
1.0%
1.0%
0.0% 100.0%
% OF HOMES