Center Line, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Center Line Neighborhoods Since 2000




Center Line, 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

Center Line Housing Market Information

With 8,320 people, 3,694 houses or apartments, and a median cost of homes of $69,564, house prices in Center Line are some of the most affordable in Michigan as well as the nation.

Single-family detached homes are the single most common housing type in Center Line, accounting for 59.20% of the city's housing units. Other types of housing that are prevalent in Center Line include large apartment complexes or high rise apartments ( 25.72%), row houses and other attached homes ( 8.04%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.65%).

The most prevalent building size and type in Center Line are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 50.05% owning and 49.95% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Center Line's housing was primarily built during this period, from the '40s through the '60s. A full 64.96% of the city's housing hails from this era. Other housing ages represented in Center Line include homes built between 1970-1999 ( 21.48%) and housing constructed before 1939 ( 12.70%).

Center Line Home Appreciation Rates

Homes have actually lost value in Center Line over the last then years, as home values have seen a decline of 33.14% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Center Line home appreciation rates at 1.86%, which equates to an annual appreciation rate of 7.66%.

Over the last year, Center Line appreciation rates have trailed the rest of the nation. In the last twelve months, Center Line's appreciation rate has been 0.85%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Center Line were at 1.86%, which equates to an annual appreciation rate of 7.66%.

Importantly, this makes Center Line one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Michigan, our data show that Center Line's latest annual appreciation rate is lower than 80% of the other cities and towns in Michigan.

Average Home Values

 

Median Home Value:
$69,564

Center Line, MI HOME PRICES

Value Range
> $1,128,000 0.0
$846,001 - $1,128,000 0.0
$564,001 - $846,000 0.0
$451,001 - $564,000 0.0
$338,001 - $451,000 0.5
$225,001 - $338,000 1.0
$113,001 - $225,000 13.2
$56,001 - $113,000 48.7
$0 - $56,000 36.6

Very Low for MI
Very Low for Nation

Value Relative to Nation Value Relative to State
95.4353685690847 94.7115384615385

Number Of Homes And Apartments:
3,694

Center Line 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
-31.31% -2.15% 1 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$603 / per month

Homeownership Rate

Homeownership
Owners 50.05
Renters 49.95
Vacant 8.38

Housing Market Details

 

Age of Homes

AGE OF Center Line HOMES
2000 or Newer 0.9
1970 - 1999 21.5
1940 - 1969 65.0
1939 or Older 12.7

Types of Homes

TYPE OF Center Line HOMES
Single-Family 59.2
Townhomes 8.0
Small Apt. Buildings 6.6
Apt. Complexes 25.7
Mobile Homes 0.4
Other 0.0

Home Size

SIZE OF Center Line HOMES
No Bedroom 3.55
1 Bedroom 18.53
2 Bedrooms 23.49
3 Bedrooms 46.83
4 Bedrooms 6.32
5 or more bedrooms 1.29