Belleville, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Belleville Neighborhoods Since 2000




Belleville, 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

Belleville Housing Market Information

With 3,880 people, 1,617 houses or apartments, and a median cost of homes of $140,399, Belleville real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Belleville, accounting for 48.10% of the city's housing units. Other types of housing that are prevalent in Belleville include large apartment complexes or high rise apartments ( 28.23%), mobile homes or trailers ( 20.63%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.06%).

The most prevalent building size and type in Belleville are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 57.28% owning and 42.72% renting.

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 ( 30.46%). A lesser amount of the housing stock also hails from before 1939 ( 13.95%). There's also some housing in Belleville built between 2000 and later ( 8.74%).

Vacant housing appears to be an issue in Belleville. Fully 12.21% of the housing stock is classified as vacant. Left unchecked, vacant Belleville homes and apartments can be a drag on the real estate market, holding Belleville 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.

Belleville Home Appreciation Rates

Belleville's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Belleville during the period has been just -1.77%, which is lower than 80% of US communities.

Appreciation rates are so strong in Belleville that despite a nationwide downturn in the housing market, Belleville real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Belleville appreciation rates continue to be some of the highest in America, at 7.30%, which is higher than appreciation rates in 83.02% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Belleville. Belleville appreciation rates in the latest quarter were at 1.86%, which equates to an annual appreciation rate of 7.66%.

Importantly, this makes Belleville one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Michigan, our data show that Belleville's latest annual appreciation rate is higher 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:
$140,399

Belleville, MI HOME PRICES

Value Range
> $1,249,000 0.0
$937,001 - $1,249,000 0.0
$625,001 - $937,000 0.0
$500,001 - $625,000 2.1
$375,001 - $500,000 2.5
$250,001 - $375,000 14.8
$125,001 - $250,000 32.6
$63,001 - $125,000 25.5
$0 - $63,000 22.5

Average for MI
Average for Nation

Value Relative to Nation Value Relative to State
54.5529122231337 42.3076923076923

Number Of Homes And Apartments:
1,617

Belleville 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
-15.40% -0.96% 1 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$923 / per month

Homeownership Rate

Homeownership
Owners 57.28
Renters 42.72
Vacant 12.21

Housing Market Details

 

Age of Homes

AGE OF Belleville HOMES
2000 or Newer 8.7
1970 - 1999 46.9
1940 - 1969 30.5
1939 or Older 14.0

Types of Homes

TYPE OF Belleville HOMES
Single-Family 48.1
Townhomes 1.0
Small Apt. Buildings 2.1
Apt. Complexes 28.2
Mobile Homes 20.6
Other 0.0

Home Size

SIZE OF Belleville HOMES
No Bedroom 1.79
1 Bedroom 12.49
2 Bedrooms 31.05
3 Bedrooms 40.77
4 Bedrooms 13.25
5 or more bedrooms 0.65