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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 1,686 people, 554 houses or apartments, and a median cost of homes of $394,193, 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 69.38% of the village's housing units. Other types of housing that are prevalent in Caledonia include large apartment complexes or high rise apartments ( 16.61%), duplexes, homes converted to apartments or other small apartment buildings ( 11.59%), and a few row houses and other attached homes ( 2.42%).
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 71.12% of Caledonia's homes, and 58.13% 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 ( 26.47%). A lesser amount of the housing stock also hails from between 2000 and later ( 22.15%). There's also some housing in Caledonia built between 1940-1969 ( 15.05%).
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 116.33% over the last ten years, which is an average annual home appreciation rate of 8.02%, 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.
NeighborhoodScout's data show that during the latest twelve months, Caledonia's appreciation rate, at 14.35%, has been at or slightly above the national average. In the latest quarter, Caledonia's appreciation rate has been 6.85%, which annualizes to a rate of 30.37%.
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 50% 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 village. Individual neighborhoods within Caledonia differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Caledonia - 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 Caledonia real estate investment or home purchase decisions.
