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
With a population of 25,723, 1,771 total housing units (homes and apartments), and a median house value of $246,667, 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 96.75% of the town's housing units. Other types of housing that are prevalent in Commerce Township include row houses and other attached homes ( 2.24%).
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 91.62% of Commerce Township's homes, and 84.22% 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 ( 25.44%). A lesser amount of the housing stock also hails from between 2000 and later ( 15.51%). There's also some housing in Commerce Township built before 1939 ( 4.64%).
Real estate appreciation rates in Commerce Township's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.17% during the period.
Appreciation rates are so strong in Commerce Township that despite a nationwide downturn in the housing market, Commerce Township real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Commerce Township appreciation rates continue to be some of the highest in America, at 7.17%, which is higher than appreciation rates in 82.29% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Commerce Township. Commerce Township appreciation rates in the latest quarter were at 1.86%, which equates to an annual appreciation rate of 7.66%.
Importantly, this makes Commerce Township one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.
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.
|$934,001 - $1,246,000||1.0|
|$623,001 - $934,000||4.5|
|$498,001 - $623,000||8.6|
|$374,001 - $498,000||14.6|
|$249,001 - $374,000||26.3|
|$125,001 - $249,000||31.1|
|$62,001 - $125,000||10.3|
|$0 - $62,000||2.8|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Commerce Township HOMES|
|2000 or Newer||15.5|
|1970 - 1999||54.4|
|1940 - 1969||25.4|
|1939 or Older||4.6|
|TYPE OF Commerce Township HOMES|
|Small Apt. Buildings||0.6|
|SIZE OF Commerce Township HOMES|
|5 or more bedrooms||4.57|