Canton, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Canton Neighborhoods Since 2000




Canton, MI Real Estate Data


Canton Housing Market Information

With 89,879 people, 1,505 houses or apartments, and a median cost of homes of $191,075, Canton real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Canton, accounting for 65.39% of the town's housing units. Other types of housing that are prevalent in Canton include large apartment complexes or high rise apartments ( 15.30%), row houses and other attached homes ( 11.31%), and a few mobile homes or trailers ( 4.60%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Canton. Owner-occupied housing accounts for 77.94% of Canton's homes, and 70.39% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Canton 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 Canton built between 2000 and later ( 21.90%). A lesser amount of the housing stock also hails from between 1940-1969 ( 7.74%). There's also some housing in Canton built before 1939 ( 1.38%).

Canton Home Appreciation Rates

In the last 10 years, Canton has experienced some of the highest home appreciation rates of any community in the nation. Canton real estate appreciated 33.72% over the last ten years, which is an average annual home appreciation rate of 2.95%, putting Canton in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Canton 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, Canton's appreciation rate, at 5.69%, has been at or slightly above the national average. In the latest quarter, Canton's appreciation rate has been 1.54%, which annualizes to a rate of 6.32%.

Relative to Michigan, our data show that Canton's latest annual appreciation rate is higher 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 town. Individual neighborhoods within Canton differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Canton - 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 Canton real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$191,075

Canton, MI HOME PRICES

Value Range
> $1,243,000 0.1
$933,001 - $1,243,000 0.1
$622,001 - $933,000 0.5
$497,001 - $622,000 0.5
$373,001 - $497,000 4.0
$249,001 - $373,000 23.5
$124,001 - $249,000 46.0
$62,001 - $124,000 17.2
$0 - $62,000 8.1

Very High for MI
High for Nation

Value Relative to Nation Value Relative to State
35.3809217075599 17.3076923076923

Number Of Homes And Apartments:
1,505

Rent & Ownership

 

Average Market Rent:
$1,404 / per month

Homeownership Rate

Homeownership
Owners 77.94
Renters 22.06
Vacant 4.33

Housing Market Details

 

Age of Homes

AGE OF Canton HOMES
2000 or Newer 21.9
1970 - 1999 69.0
1940 - 1969 7.7
1939 or Older 1.4

Types of Homes

TYPE OF Canton HOMES
Single-Family 65.4
Townhomes 11.3
Small Apt. Buildings 3.4
Apt. Complexes 15.3
Mobile Homes 4.6
Other 0.0

Home Size

SIZE OF Canton HOMES
No Bedroom 0.57
1 Bedroom 5.08
2 Bedrooms 22.02
3 Bedrooms 35.89
4 Bedrooms 34.50
5 or more bedrooms 1.95

Canton Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
70.38% 3.18% 10 8
* 10 is highest