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 Q3 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Bellevue Housing Market Information

With 1,290 people, 537 houses or apartments, and a median cost of homes of $163,208, 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 81.83% of the village's housing units. Other types of housing that are prevalent in Bellevue include large apartment complexes or high rise apartments ( 7.61%), mobile homes or trailers ( 7.14%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.42%).

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 72.81% of Bellevue's homes, and 59.16% have either three or four bedrooms, which is average sized relative to America.

The housing in Bellevue was primarily built before 1939 ( 49.38%), 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 ( 24.53%), followed by between 1970-1999 ( 21.74%). There's also some housing in Bellevue built between 2000 and later ( 4.35%).

Vacant housing appears to be an issue in Bellevue. Fully 16.61% 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

Appreciation rates for homes in Bellevue have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 31.98%, which ranks in the top 30% nationwide. This equates to an annual average Bellevue house appreciation rate of 2.81%.

Appreciation rates are so strong in Bellevue that despite a nationwide downturn in the housing market, Bellevue real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Bellevue appreciation rates continue to be some of the highest in America, at 5.19%, which is higher than appreciation rates in 74.03% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Bellevue. Bellevue appreciation rates in the latest quarter were at 2.82%, which equates to an annual appreciation rate of 11.76%.

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 80% of the other cities and towns in Michigan.

Average Home Values

 

Median Home Value:
$163,208

Bellevue, MI HOME PRICES

Value Range
> $1,315,000 0.7
$986,001 - $1,315,000 0.5
$657,001 - $986,000 0.7
$526,001 - $657,000 1.1
$395,001 - $526,000 4.5
$263,001 - $395,000 14.9
$132,001 - $263,000 36.1
$65,001 - $132,000 30.6
$0 - $65,000 11.0

Average for MI
Average for Nation

Value Relative to Nation Value Relative to State
52.9459854014599 42.7884615384615

Number Of Homes And Apartments:
537

Bellevue Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
2019 Q2 - 2019 Q3
Last 12 Months:
2018 Q3 - 2019 Q3
Last 2 Years:
2017 Q3 - 2019 Q3
Last 5 Years:
2014 Q3 - 2019 Q3
Last 10 Years:
2009 Q3 - 2019 Q3
Since 2000:
2000 Q1 - 2019 Q3
34.81% 1.52%
7
2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,207 / per month

Homeownership Rate

Homeownership
Owners 72.81
Renters 27.19
Vacant 16.61

Housing Market Details

 

Age of Homes

AGE OF Bellevue HOMES
2000 or Newer 4.3
1970 - 1999 21.7
1940 - 1969 24.5
1939 or Older 49.4

Types of Homes

TYPE OF Bellevue HOMES
Single-Family 81.8
Townhomes 0.0
Small Apt. Buildings 3.4
Apt. Complexes 7.6
Mobile Homes 7.1
Other 0.0

Home Size

SIZE OF Bellevue HOMES
No Bedroom 0.00
1 Bedroom 8.39
2 Bedrooms 26.24
3 Bedrooms 42.39
4 Bedrooms 16.77
5 or more bedrooms 6.21

Popular Neighborhoods in Bellevue

Zip Codes in Bellevue, MI