Bellevue, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Bellevue, MI Real Estate Data


Bellevue Housing Market Information

With a population of 1,278, 525 total housing units (homes and apartments), and a median house value of $142,569, Bellevue 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 Bellevue, accounting for 75.08% of the village's housing units. Other types of housing that are prevalent in Bellevue include large apartment complexes or high rise apartments ( 14.48%), duplexes, homes converted to apartments or other small apartment buildings ( 4.88%), and a few mobile homes or trailers ( 4.04%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Bellevue. Owner-occupied housing accounts for 69.90% of Bellevue's homes, and 55.72% have either three or four bedrooms, which is average sized relative to America.

The housing in Bellevue was primarily built before 1939 ( 47.81%), making the housing stock in Bellevue some of the oldest overall in America, although there is a range of ages of homes in Bellevue. The next most important housing age is between 1940-1969 ( 24.41%), followed by between 1970-1999 ( 22.22%). There's also some housing in Bellevue built between 2000 and later ( 5.56%).

Vacant housing appears to be an issue in Bellevue. Fully 11.62% of the housing stock is classified as vacant. Left unchecked, vacant Bellevue homes and apartments can be a drag on the real estate market, holding Bellevue 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.

Bellevue Home Appreciation Rates

Real estate appreciation rates in Bellevue's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.63% during the period.

NeighborhoodScout's data show that during the latest twelve months, Bellevue's appreciation rate, at 5.50%, has been at or slightly above the national average. In the latest quarter, Bellevue's appreciation rate has been 3.81%, which annualizes to a rate of 16.11%.

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

Relative to Michigan, our data show that Bellevue's latest annual appreciation rate is higher than 70% of the other cities and towns in Michigan.

Average Home Values

 

Median Home Value:
$142,569

Bellevue, MI HOME PRICES

Value Range
> $1,242,000 0.8
$931,001 - $1,242,000 0.2
$621,001 - $931,000 0.6
$497,001 - $621,000 0.1
$372,001 - $497,000 4.4
$248,001 - $372,000 14.6
$124,001 - $248,000 35.1
$62,001 - $124,000 31.6
$0 - $62,000 12.7

Average for MI
Average for Nation

Value Relative to Nation Value Relative to State
54.2893950928149 41.6666666666667

Number Of Homes And Apartments:
525

Rent & Ownership

 

Average Market Rent:
$710 / per month

Homeownership Rate

Homeownership
Owners 69.90
Renters 30.10
Vacant 11.62

Housing Market Details

 

Age of Homes

AGE OF Bellevue HOMES
2000 or Newer 5.6
1970 - 1999 22.2
1940 - 1969 24.4
1939 or Older 47.8

Types of Homes

TYPE OF Bellevue HOMES
Single-Family 75.1
Townhomes 1.5
Small Apt. Buildings 4.9
Apt. Complexes 14.5
Mobile Homes 4.0
Other 0.0

Home Size

SIZE OF Bellevue HOMES
No Bedroom 0.00
1 Bedroom 8.92
2 Bedrooms 29.12
3 Bedrooms 39.39
4 Bedrooms 16.33
5 or more bedrooms 6.23

Bellevue 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
18.85% 1.02% 8 2
* 10 is highest

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Zip Codes in Bellevue, MI