Beverly Hills, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Beverly Hills Neighborhoods Since 2000




Beverly Hills, 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

Beverly Hills Housing Market Information

With 10,424 people, 4,081 houses or apartments, and a median cost of homes of $446,532, Beverly Hills house prices are not only among the most expensive in Michigan, Beverly Hills real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Beverly Hills, accounting for 93.33% of the village's housing units. Other types of housing that are prevalent in Beverly Hills include large apartment complexes or high rise apartments ( 3.54%), row houses and other attached homes ( 2.04%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.08%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Beverly Hills. Owner-occupied housing accounts for 87.93% of Beverly Hills's homes, and 80.77% have either three or four bedrooms, which is average sized relative to America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Beverly Hills's housing was primarily built during this period, from the '40s through the '60s. A full 82.07% of the village's housing hails from this era. Other housing ages represented in Beverly Hills include homes built between 1970-1999 ( 13.17%) and housing constructed before 1939 ( 3.38%). There's also some housing in Beverly Hills built between 2000 and later ( 1.38%).

Beverly Hills Home Appreciation Rates

Appreciation rates for homes in Beverly Hills have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 7.83%, which ranks in the top 40% nationwide. This equates to an annual average Beverly Hills house appreciation rate of 0.76%.

Appreciation rates are so strong in Beverly Hills that despite a nationwide downturn in the housing market, Beverly Hills real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Beverly Hills appreciation rates continue to be some of the highest in America, at 5.67%, which is higher than appreciation rates in 71.02% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Beverly Hills. Beverly Hills appreciation rates in the latest quarter were at 1.86%, which equates to an annual appreciation rate of 7.66%.

Importantly, this makes Beverly Hills 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 Beverly Hills's latest annual appreciation rate is higher than 50% of the other cities and towns in Michigan.

Average Home Values

 

Median Home Value:
$446,532

Beverly Hills, MI HOME PRICES

Value Range
> $1,277,000 1.0
$958,001 - $1,277,000 0.2
$639,001 - $958,000 8.2
$511,001 - $639,000 14.7
$383,001 - $511,000 22.7
$255,001 - $383,000 30.9
$128,001 - $255,000 19.2
$64,001 - $128,000 0.4
$0 - $64,000 2.6

Very High for MI
Very High for Nation

Value Relative to Nation Value Relative to State
7.52959099964842 1.44230769230769

Number Of Homes And Apartments:
4,081

Beverly Hills 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
21.40% 1.13% 8 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,995 / per month

Homeownership Rate

Homeownership
Owners 87.93
Renters 12.07
Vacant 4.20

Housing Market Details

 

Age of Homes

AGE OF Beverly Hills HOMES
2000 or Newer 1.4
1970 - 1999 13.2
1940 - 1969 82.1
1939 or Older 3.4

Types of Homes

TYPE OF Beverly Hills HOMES
Single-Family 93.3
Townhomes 2.0
Small Apt. Buildings 1.1
Apt. Complexes 3.5
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Beverly Hills HOMES
No Bedroom 0.16
1 Bedroom 1.13
2 Bedrooms 12.14
3 Bedrooms 47.68
4 Bedrooms 33.10
5 or more bedrooms 5.80