Comstock Park, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Comstock Park Neighborhoods Since 2000




Comstock Park, 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

Comstock Park Housing Market Information

With a population of 10,453, 4,280 total housing units (homes and apartments), and a median house value of $147,317, Comstock Park real estate and house prices are near the national average for all cities and towns.

Large apartment complexes or high rise apartments are the single most common housing type in Comstock Park, accounting for 49.55% of the town's housing units. Other types of housing that are prevalent in Comstock Park include single-family detached homes ( 37.31%), row houses and other attached homes ( 7.21%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.67%). Towns with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact towns that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.

People in Comstock Park primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Comstock Park has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Comstock Park 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 Comstock Park built between 1940-1969 ( 30.03%). A lesser amount of the housing stock also hails from between 2000 and later ( 6.93%). There's also some housing in Comstock Park built before 1939 ( 4.35%).

Comstock Park Home Appreciation Rates

Appreciation rates for homes in Comstock Park have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 9.38%, which ranks in the top 30% nationwide. This equates to an annual average Comstock Park house appreciation rate of 0.90%.

Appreciation rates are so strong in Comstock Park that despite a nationwide downturn in the housing market, Comstock Park real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Comstock Park appreciation rates continue to be some of the highest in America, at 10.48%, which is higher than appreciation rates in 95.07% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Comstock Park. Comstock Park appreciation rates in the latest quarter were at 3.68%, which equates to an annual appreciation rate of 15.57%.

Importantly, this makes Comstock Park 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 Comstock Park's latest annual appreciation rate is higher than 90% of the other cities and towns in Michigan.

Average Home Values

 

Median Home Value:
$147,317

Comstock Park, MI HOME PRICES

Value Range
> $1,285,000 0.2
$963,001 - $1,285,000 0.1
$642,001 - $963,000 0.2
$514,001 - $642,000 0.3
$385,001 - $514,000 1.3
$257,001 - $385,000 5.7
$129,001 - $257,000 62.4
$64,001 - $129,000 18.0
$0 - $64,000 11.8

High for MI
Average for Nation

Value Relative to Nation Value Relative to State
51.1484823625923 38.3012820512821

Number Of Homes And Apartments:
4,280

Comstock Park 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
22.68% 1.19% 8 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$856 / per month

Homeownership Rate

Homeownership
Owners 42.59
Renters 57.41
Vacant 6.45

Housing Market Details

 

Age of Homes

AGE OF Comstock Park HOMES
2000 or Newer 6.9
1970 - 1999 58.7
1940 - 1969 30.0
1939 or Older 4.3

Types of Homes

TYPE OF Comstock Park HOMES
Single-Family 37.3
Townhomes 7.2
Small Apt. Buildings 3.7
Apt. Complexes 49.6
Mobile Homes 2.3
Other 0.0

Home Size

SIZE OF Comstock Park HOMES
No Bedroom 0.42
1 Bedroom 14.78
2 Bedrooms 40.00
3 Bedrooms 37.18
4 Bedrooms 7.17
5 or more bedrooms 0.46