Caledonia, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Caledonia Neighborhoods Since 2000




Caledonia, 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

Caledonia Housing Market Information

With 1,590 people, 524 houses or apartments, and a median cost of homes of $229,117, Caledonia real estate is some of the most expensive in Michigan, although Caledonia home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Caledonia, accounting for 66.60% of the village's housing units. Other types of housing that are prevalent in Caledonia include large apartment complexes or high rise apartments ( 15.86%), duplexes, homes converted to apartments or other small apartment buildings ( 12.13%), and a few row houses and other attached homes ( 5.41%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Caledonia. Owner-occupied housing accounts for 66.41% of Caledonia's homes, and 53.54% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Caledonia 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 Caledonia built before 1939 ( 32.46%). A lesser amount of the housing stock also hails from between 2000 and later ( 22.20%). There's also some housing in Caledonia built between 1940-1969 ( 11.01%).

Caledonia Home Appreciation Rates

In the last 10 years, Caledonia has experienced some of the highest home appreciation rates of any community in the nation. Caledonia real estate appreciated 15.32% over the last ten years, which is an average annual home appreciation rate of 1.44%, putting Caledonia in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Caledonia definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Caledonia that despite a nationwide downturn in the housing market, Caledonia real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Caledonia appreciation rates continue to be some of the highest in America, at 10.59%, which is higher than appreciation rates in 95.30% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Caledonia. Caledonia appreciation rates in the latest quarter were at 3.68%, which equates to an annual appreciation rate of 15.57%.

Importantly, this makes Caledonia 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 Caledonia's latest annual appreciation rate is higher than 90% of the other cities and towns in Michigan.

Average Home Values

 

Median Home Value:
$229,117

Caledonia, MI HOME PRICES

Value Range
> $1,278,000 0.6
$958,001 - $1,278,000 2.9
$639,001 - $958,000 0.1
$511,001 - $639,000 3.9
$384,001 - $511,000 9.8
$256,001 - $384,000 26.3
$128,001 - $256,000 35.8
$64,001 - $128,000 12.6
$0 - $64,000 8.0

Very High for MI
High for Nation

Value Relative to Nation Value Relative to State
25.9287472166882 10.0961538461538

Number Of Homes And Apartments:
524

Caledonia 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
28.36% 1.46% 9 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,129 / per month

Homeownership Rate

Homeownership
Owners 66.41
Renters 33.59
Vacant 2.24

Housing Market Details

 

Age of Homes

AGE OF Caledonia HOMES
2000 or Newer 22.2
1970 - 1999 34.3
1940 - 1969 11.0
1939 or Older 32.5

Types of Homes

TYPE OF Caledonia HOMES
Single-Family 66.6
Townhomes 5.4
Small Apt. Buildings 12.1
Apt. Complexes 15.9
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Caledonia HOMES
No Bedroom 0.93
1 Bedroom 12.69
2 Bedrooms 23.51
3 Bedrooms 30.22
4 Bedrooms 23.32
5 or more bedrooms 9.33