DeWitt, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating DeWitt Neighborhoods Since 2000




DeWitt, 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

DeWitt Housing Market Information

With a population of 4,655, 1,698 total housing units (homes and apartments), and a median house value of $230,806, DeWitt real estate is some of the most expensive in Michigan, although DeWitt home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in DeWitt, accounting for 76.67% of the city's housing units. Other types of housing that are prevalent in DeWitt include row houses and other attached homes ( 9.93%), large apartment complexes or high rise apartments ( 9.30%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.76%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in DeWitt. Owner-occupied housing accounts for 74.12% of DeWitt's homes, and 66.57% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in DeWitt 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 DeWitt built between 1940-1969 ( 13.06%). A lesser amount of the housing stock also hails from between 2000 and later ( 12.26%). There's also some housing in DeWitt built before 1939 ( 7.13%).

DeWitt Home Appreciation Rates

Real estate appreciation rates in DeWitt's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.09% during the period.

Appreciation rates are so strong in DeWitt that despite a nationwide downturn in the housing market, DeWitt real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, DeWitt appreciation rates continue to be some of the highest in America, at 7.86%, which is higher than appreciation rates in 86.08% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in DeWitt. DeWitt appreciation rates in the latest quarter were at 1.36%, which equates to an annual appreciation rate of 5.54%.

Relative to Michigan, our data show that DeWitt's latest annual appreciation rate is higher than 70% of the other cities and towns in Michigan.

Average Home Values

 

Median Home Value:
$230,806

DeWitt, MI HOME PRICES

Value Range
> $1,172,000 0.0
$879,001 - $1,172,000 0.8
$586,001 - $879,000 0.0
$469,001 - $586,000 6.0
$351,001 - $469,000 8.3
$234,001 - $351,000 32.1
$117,001 - $234,000 46.4
$59,001 - $117,000 5.1
$0 - $59,000 1.3

Very High for MI
High for Nation

Value Relative to Nation Value Relative to State
25.6885034571663 9.61538461538462

Number Of Homes And Apartments:
1,698

DeWitt 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
13.43% 0.73% 7 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,054 / per month

Homeownership Rate

Homeownership
Owners 74.12
Renters 25.88
Vacant 3.14

Housing Market Details

 

Age of Homes

AGE OF DeWitt HOMES
2000 or Newer 12.3
1970 - 1999 67.5
1940 - 1969 13.1
1939 or Older 7.1

Types of Homes

TYPE OF DeWitt HOMES
Single-Family 76.7
Townhomes 9.9
Small Apt. Buildings 3.8
Apt. Complexes 9.3
Mobile Homes 0.3
Other 0.0

Home Size

SIZE OF DeWitt HOMES
No Bedroom 0.00
1 Bedroom 2.74
2 Bedrooms 18.71
3 Bedrooms 44.55
4 Bedrooms 22.02
5 or more bedrooms 11.98