Brighton, MI Real Estate Market

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 Q4 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Brighton, MI Housing Market Trends

With a population of 7,656, 3,651 total housing units (homes and apartments), and a median house value of $210,434, Brighton real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Brighton, accounting for 42.27% of the city's housing units. Other types of housing that are prevalent in Brighton include large apartment complexes or high rise apartments ( 29.58%), row houses and other attached homes ( 21.00%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.11%).

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 ( 18.88%). A lesser amount of the housing stock also hails from between 1940-1969 ( 13.55%). There's also some housing in Brighton built before 1939 ( 5.88%).

Brighton Home Appreciation Rates

In the last 10 years, Brighton has experienced some of the highest home appreciation rates of any community in the nation. Brighton real estate appreciated 67.18% over the last ten years, which is an average annual home appreciation rate of 5.27%, putting Brighton in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Brighton definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Brighton's appreciation rate, at 5.51%, has been at or slightly above the national average. In the latest quarter, Brighton's appreciation rate has been 2.48%, which annualizes to a rate of 10.28%.

Relative to Michigan, our data show that Brighton's latest annual appreciation rate is lower 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:
$210,434

Brighton, MI HOME PRICES

> $1,192,000
0.0%
0.0%
$894,001 - $1,192,000
0.0%
0.0%
$596,001 - $894,000
0.0%
0.0%
$477,001 - $596,000
0.5%
0.5%
$358,001 - $477,000
11.3%
11.3%
$238,001 - $358,000
36.8%
36.8%
$120,001 - $238,000
44.6%
44.6%
$59,001 - $120,000
4.2%
4.2%
$0 - $59,000
2.6%
2.6%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

High for MI

Value Relative To Nation

Number Of Homes And Apartments:
3,651

Brighton Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
35.76% 1.47%
6
2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,339 / per month

Homeownership Rate

Owners
59.6%
59.6%
Renters
40.4%
40.4%
Vacant
5.4%
5.4%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
18.9%
18.9%
1970 - 1999
61.7%
61.7%
1940 - 1969
13.5%
13.5%
1939 or Older
5.9%
5.9%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
42.3%
42.3%
Townhomes
21.0%
21.0%
Small Apt. Buildings
6.1%
6.1%
Apt. Complexes
29.6%
29.6%
Mobile Homes
0.2%
0.2%
Other
0.9%
0.9%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
3.3%
3.3%
1 Bedroom
17.7%
17.7%
2 Bedrooms
34.8%
34.8%
3 Bedrooms
34.5%
34.5%
4 Bedrooms
9.2%
9.2%
5 or more bedrooms
0.4%
0.4%
0.0% 100.0%
% OF HOMES