Brooklyn, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Brooklyn, 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

Brooklyn Housing Market Information

With a population of 1,198, 546 total housing units (homes and apartments), and a median house value of $176,959, Brooklyn real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Brooklyn, accounting for 60.36% of the village's housing units. Other types of housing that are prevalent in Brooklyn include large apartment complexes or high rise apartments ( 26.04%), duplexes, homes converted to apartments or other small apartment buildings ( 10.28%), and a few row houses and other attached homes ( 3.32%).

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

The housing in Brooklyn was primarily built before 1939 ( 31.18%), making the housing stock in Brooklyn some of the oldest overall in America, although there is a range of ages of homes in Brooklyn. The next most important housing age is between 1970-1999 ( 29.68%), followed by between 1940-1969 ( 28.03%). There's also some housing in Brooklyn built between 2000 and later ( 11.11%).

Brooklyn Home Appreciation Rates

Brooklyn's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Brooklyn during the period has been just -1.53%, which is lower than 80% of US communities.

Over the last year, Brooklyn appreciation rates have trailed the rest of the nation. In the last twelve months, Brooklyn's appreciation rate has been 3.07%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Brooklyn were at 0.82%, which equates to an annual appreciation rate of 3.31%.

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

Average Home Values

 

Median Home Value:
$176,959

Brooklyn, MI HOME PRICES

Value Range
> $1,139,000 0.6
$854,001 - $1,139,000 0.0
$569,001 - $854,000 3.4
$455,001 - $569,000 2.4
$342,001 - $455,000 6.6
$228,001 - $342,000 18.2
$114,001 - $228,000 36.9
$57,001 - $114,000 28.6
$0 - $57,000 3.5

High for MI
High for Nation

Value Relative to Nation Value Relative to State
39.1773116137349 23.3974358974359

Number Of Homes And Apartments:
546

Brooklyn 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
-2.14% -0.13% 3 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$990 / per month

Homeownership Rate

Homeownership
Owners 54.58
Renters 45.42
Vacant 9.45

Housing Market Details

 

Age of Homes

AGE OF Brooklyn HOMES
2000 or Newer 11.1
1970 - 1999 29.7
1940 - 1969 28.0
1939 or Older 31.2

Types of Homes

TYPE OF Brooklyn HOMES
Single-Family 60.4
Townhomes 3.3
Small Apt. Buildings 10.3
Apt. Complexes 26.0
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Brooklyn HOMES
No Bedroom 2.16
1 Bedroom 18.57
2 Bedrooms 28.69
3 Bedrooms 36.32
4 Bedrooms 12.77
5 or more bedrooms 1.49

Popular Neighborhoods in Brooklyn

Zip Codes in Brooklyn, MI