Bellevue, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Bellevue, 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

Bellevue Housing Market Information

With 1,278 people, 559 houses or apartments, and a median cost of homes of $125,957, house prices in Bellevue are solidly below the national average.

Single-family detached homes are the single most common housing type in Bellevue, accounting for 77.03% of the village's housing units. Other types of housing that are prevalent in Bellevue include large apartment complexes or high rise apartments ( 12.03%), duplexes, homes converted to apartments or other small apartment buildings ( 5.47%), and a few mobile homes or trailers ( 3.75%).

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 69.23% of Bellevue's homes, and 57.66% have either three or four bedrooms, which is average sized relative to America.

The housing in Bellevue was primarily built before 1939 ( 50.00%), 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 1970-1999 ( 22.66%), followed by between 1940-1969 ( 21.88%). There's also some housing in Bellevue built between 2000 and later ( 5.47%).

Vacant housing appears to be an issue in Bellevue. Fully 12.66% 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

Bellevue's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Bellevue during the period has been just -1.79%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Bellevue's appreciation rate, at 3.16%, has been at or slightly above the national average. In the latest quarter, Bellevue's appreciation rate has been 1.36%, which annualizes to a rate of 5.54%.

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

Average Home Values

 

Median Home Value:
$125,957

Bellevue, MI HOME PRICES

Value Range
> $1,113,000 1.1
$834,001 - $1,113,000 0.2
$556,001 - $834,000 1.0
$445,001 - $556,000 0.2
$334,001 - $445,000 5.4
$223,001 - $334,000 12.6
$111,001 - $223,000 33.5
$56,001 - $111,000 33.1
$0 - $56,000 13.1

Average for MI
Low for Nation

Value Relative to Nation Value Relative to State
62.0121879760928 53.6858974358974

Number Of Homes And Apartments:
559

Bellevue 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
4.30% 0.24% 4 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$985 / per month

Homeownership Rate

Homeownership
Owners 69.23
Renters 30.77
Vacant 12.66

Housing Market Details

 

Age of Homes

AGE OF Bellevue HOMES
2000 or Newer 5.5
1970 - 1999 22.7
1940 - 1969 21.9
1939 or Older 50.0

Types of Homes

TYPE OF Bellevue HOMES
Single-Family 77.0
Townhomes 1.7
Small Apt. Buildings 5.5
Apt. Complexes 12.0
Mobile Homes 3.8
Other 0.0

Home Size

SIZE OF Bellevue HOMES
No Bedroom 0.00
1 Bedroom 9.84
2 Bedrooms 27.34
3 Bedrooms 42.19
4 Bedrooms 15.47
5 or more bedrooms 5.16

Popular Neighborhoods in Bellevue

Zip Codes in Bellevue, MI