Canton, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Canton Neighborhoods Since 2000




Canton, 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

Canton Housing Market Information

With 89,879 people, 1,530 houses or apartments, and a median cost of homes of $222,344, Canton real estate is some of the most expensive in Michigan, although Canton home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Canton, accounting for 64.50% of the town's housing units. Other types of housing that are prevalent in Canton include large apartment complexes or high rise apartments ( 16.12%), row houses and other attached homes ( 11.75%), and a few mobile homes or trailers ( 4.47%).

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 77.42% of Canton's homes, and 70.36% 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 ( 22.12%). A lesser amount of the housing stock also hails from between 1940-1969 ( 7.07%). There's also some housing in Canton built before 1939 ( 1.14%).

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 32.71% over the last ten years, which is an average annual home appreciation rate of 2.87%, 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.

Appreciation rates are so strong in Canton that despite a nationwide downturn in the housing market, Canton real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Canton appreciation rates continue to be some of the highest in America, at 8.84%, which is higher than appreciation rates in 90.24% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Canton. Canton appreciation rates in the latest quarter were at 0.94%, which equates to an annual appreciation rate of 3.83%.

Relative to Michigan, our data show that Canton's latest annual appreciation rate is higher than 80% 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:
$222,344

Canton, MI HOME PRICES

Value Range
> $1,259,000 0.2
$944,001 - $1,259,000 0.2
$629,001 - $944,000 0.5
$504,001 - $629,000 0.8
$378,001 - $504,000 4.9
$252,001 - $378,000 24.7
$126,001 - $252,000 43.5
$63,001 - $126,000 16.6
$0 - $63,000 8.6

Very High for MI
High for Nation

Value Relative to Nation Value Relative to State
27.2412984882222 11.2179487179487

Number Of Homes And Apartments:
1,530

Canton 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
77.76% 3.39% 10 9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,364 / per month

Homeownership Rate

Homeownership
Owners 77.42
Renters 22.58
Vacant 4.74

Housing Market Details

 

Age of Homes

AGE OF Canton HOMES
2000 or Newer 22.1
1970 - 1999 69.7
1940 - 1969 7.1
1939 or Older 1.1

Types of Homes

TYPE OF Canton HOMES
Single-Family 64.5
Townhomes 11.7
Small Apt. Buildings 3.1
Apt. Complexes 16.1
Mobile Homes 4.5
Other 0.0

Home Size

SIZE OF Canton HOMES
No Bedroom 0.61
1 Bedroom 4.89
2 Bedrooms 21.96
3 Bedrooms 36.14
4 Bedrooms 34.22
5 or more bedrooms 2.19