Byron, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Byron Neighborhoods Since 2000




Byron, 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

Byron Housing Market Information

With 558 people, 193 houses or apartments, and a median cost of homes of $142,982, Byron 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 Byron, accounting for 83.57% of the village's housing units. Other types of housing that are prevalent in Byron include duplexes, homes converted to apartments or other small apartment buildings ( 12.56%), mobile homes or trailers ( 2.42%), and a few row houses and other attached homes ( 1.45%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Byron. Owner-occupied housing accounts for 76.17% of Byron's homes, and 65.22% have either three or four bedrooms, which is average sized relative to America.

The housing in Byron was primarily built before 1939 ( 42.03%), making the housing stock in Byron some of the oldest overall in America, although there is a range of ages of homes in Byron. The next most important housing age is between 1970-1999 ( 28.50%), followed by between 1940-1969 ( 26.09%). There's also some housing in Byron built between 2000 and later ( 3.38%).

Byron Home Appreciation Rates

Byron's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Byron during the period has been just -1.78%, which is lower than 80% of US communities.

Appreciation rates are so strong in Byron that despite a nationwide downturn in the housing market, Byron real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Byron appreciation rates continue to be some of the highest in America, at 8.04%, which is higher than appreciation rates in 86.89% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Byron. Byron appreciation rates in the latest quarter were at 0.00%, which equates to an annual appreciation rate of 0.00%.

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

Average Home Values

 

Median Home Value:
$142,982

Byron, MI HOME PRICES

Value Range
> $1,262,000 0.0
$947,001 - $1,262,000 0.0
$631,001 - $947,000 0.0
$505,001 - $631,000 0.3
$379,001 - $505,000 2.1
$252,001 - $379,000 10.8
$126,001 - $252,000 50.9
$63,001 - $126,000 30.2
$0 - $63,000 5.7

Average for MI
Average for Nation

Value Relative to Nation Value Relative to State
53.3341146138521 41.025641025641

Number Of Homes And Apartments:
193

Byron 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
-2.05% -0.12% 3 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$855 / per month

Homeownership Rate

Homeownership
Owners 76.17
Renters 23.83
Vacant 6.76

Housing Market Details

 

Age of Homes

AGE OF Byron HOMES
2000 or Newer 3.4
1970 - 1999 28.5
1940 - 1969 26.1
1939 or Older 42.0

Types of Homes

TYPE OF Byron HOMES
Single-Family 83.6
Townhomes 1.4
Small Apt. Buildings 12.6
Apt. Complexes 0.0
Mobile Homes 2.4
Other 0.0

Home Size

SIZE OF Byron HOMES
No Bedroom 2.90
1 Bedroom 1.93
2 Bedrooms 26.09
3 Bedrooms 46.86
4 Bedrooms 18.36
5 or more bedrooms 3.86