Brighton, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Brighton Neighborhoods Since 2000




Brighton, 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

Brighton Housing Market Information

With a population of 7,609, 3,705 total housing units (homes and apartments), and a median house value of $213,117, Brighton real estate is some of the most expensive in Michigan, although Brighton home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Brighton, accounting for 41.46% of the city's housing units. Other types of housing that are prevalent in Brighton include large apartment complexes or high rise apartments ( 33.00%), row houses and other attached homes ( 19.70%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.64%).

People in Brighton primarily live in small (one, two or no bedroom) single-family detached homes. Brighton has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Brighton 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 Brighton built between 2000 and later ( 20.45%). A lesser amount of the housing stock also hails from between 1940-1969 ( 19.21%). There's also some housing in Brighton built before 1939 ( 4.57%).

Brighton Home Appreciation Rates

Appreciation rates for homes in Brighton have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 1.13%, which ranks in the top 50% nationwide. This equates to an annual average Brighton house appreciation rate of 0.11%.

Appreciation rates are so strong in Brighton that despite a nationwide downturn in the housing market, Brighton real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Brighton appreciation rates continue to be some of the highest in America, at 7.37%, which is higher than appreciation rates in 83.35% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Brighton. Brighton appreciation rates in the latest quarter were at 1.86%, which equates to an annual appreciation rate of 7.66%.

Importantly, this makes Brighton 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 Brighton's latest annual appreciation rate is higher than 70% 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 Brighton differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Brighton - 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 Brighton real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$213,117

Brighton, MI HOME PRICES

Value Range
> $1,263,000 0.3
$948,001 - $1,263,000 0.0
$632,001 - $948,000 0.5
$506,001 - $632,000 0.0
$379,001 - $506,000 2.4
$253,001 - $379,000 20.4
$126,001 - $253,000 60.3
$63,001 - $126,000 10.9
$0 - $63,000 5.1

Very High for MI
High for Nation

Value Relative to Nation Value Relative to State
29.1749677721786 13.4615384615385

Number Of Homes And Apartments:
3,705

Brighton 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
13.43% 0.73% 7 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,126 / per month

Homeownership Rate

Homeownership
Owners 58.99
Renters 41.01
Vacant 9.90

Housing Market Details

 

Age of Homes

AGE OF Brighton HOMES
2000 or Newer 20.5
1970 - 1999 55.8
1940 - 1969 19.2
1939 or Older 4.6

Types of Homes

TYPE OF Brighton HOMES
Single-Family 41.5
Townhomes 19.7
Small Apt. Buildings 4.6
Apt. Complexes 33.0
Mobile Homes 0.7
Other 0.5

Home Size

SIZE OF Brighton HOMES
No Bedroom 2.72
1 Bedroom 13.76
2 Bedrooms 37.99
3 Bedrooms 33.75
4 Bedrooms 9.87
5 or more bedrooms 1.90