Commerce Township, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Commerce Township Neighborhoods Since 2000




Commerce Township, MI Real Estate Data


Commerce Township Housing Market Information

With a population of 25,723, 1,754 total housing units (homes and apartments), and a median house value of $275,427, Commerce Township real estate is some of the most expensive in Michigan, although Commerce Township home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Commerce Township, accounting for 97.19% of the town's housing units. Other types of housing that are prevalent in Commerce Township include row houses and other attached homes ( 2.03%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Commerce Township. Owner-occupied housing accounts for 92.57% of Commerce Township's homes, and 84.69% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Commerce Township 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 Commerce Township built between 1940-1969 ( 26.08%). A lesser amount of the housing stock also hails from between 2000 and later ( 14.84%). There's also some housing in Commerce Township built before 1939 ( 4.77%).

Commerce Township Home Appreciation Rates

Commerce Township's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Commerce Township during the period has been just -0.70%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Commerce Township's appreciation rate, at 5.09%, has been at or slightly above the national average. In the latest quarter, Commerce Township's appreciation rate has been 1.97%, which annualizes to a rate of 8.12%.

Relative to Michigan, our data show that Commerce Township's latest annual appreciation rate is higher than 60% 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 Commerce Township differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Commerce Township - 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 Commerce Township real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$275,427

Commerce Township, MI HOME PRICES

Value Range
> $1,277,000 0.6
$958,001 - $1,277,000 0.7
$639,001 - $958,000 3.5
$511,001 - $639,000 8.2
$383,001 - $511,000 12.8
$256,001 - $383,000 26.5
$128,001 - $256,000 33.9
$64,001 - $128,000 10.5
$0 - $64,000 3.2

Very High for MI
Very High for Nation

Value Relative to Nation Value Relative to State
19.5936054342098 6.25

Number Of Homes And Apartments:
1,754

Rent & Ownership

 

Average Market Rent:
$1,699 / per month

Homeownership Rate

Homeownership
Owners 92.57
Renters 7.43
Vacant 3.61

Housing Market Details

 

Age of Homes

AGE OF Commerce Township HOMES
2000 or Newer 14.8
1970 - 1999 54.3
1940 - 1969 26.1
1939 or Older 4.8

Types of Homes

TYPE OF Commerce Township HOMES
Single-Family 97.2
Townhomes 2.0
Small Apt. Buildings 0.5
Apt. Complexes 0.2
Mobile Homes 0.1
Other 0.0

Home Size

SIZE OF Commerce Township HOMES
No Bedroom 0.66
1 Bedroom 1.25
2 Bedrooms 8.71
3 Bedrooms 50.77
4 Bedrooms 33.92
5 or more bedrooms 4.70

Commerce Township 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
4.50% 0.26% 5 1
* 10 is highest