Eastpointe, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Eastpointe Neighborhoods Since 2000




Eastpointe, MI Real Estate Data


Eastpointe Housing Market Information

With a population of 32,657, 12,399 total housing units (homes and apartments), and a median house value of $79,012, house prices in Eastpointe 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 Eastpointe, accounting for 91.21% of the city's housing units. Other types of housing that are prevalent in Eastpointe include large apartment complexes or high rise apartments ( 6.62%), duplexes, homes converted to apartments or other small apartment buildings ( 1.12%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Eastpointe. Owner-occupied housing accounts for 70.50% of Eastpointe's homes, and 74.73% have either three or four bedrooms, which is average sized relative to America.

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. Eastpointe's housing was primarily built during this period, from the '40s through the '60s. A full 78.55% of the city's housing hails from this era. Other housing ages represented in Eastpointe include homes built between 1970-1999 ( 10.54%) and housing constructed before 1939 ( 10.08%).

Eastpointe Home Appreciation Rates

Homes have actually lost value in Eastpointe over the last then years, as home values have seen a decline of 45.19% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Eastpointe home appreciation rates at 1.97%, which equates to an annual appreciation rate of 8.12%.

Appreciation rates are so strong in Eastpointe that despite a nationwide downturn in the housing market, Eastpointe real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Eastpointe appreciation rates continue to be some of the highest in America, at 5.79%, which is higher than appreciation rates in 71.38% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Eastpointe. Eastpointe appreciation rates in the latest quarter were at 1.97%, which equates to an annual appreciation rate of 8.12%.

Relative to Michigan, our data show that Eastpointe's latest annual appreciation rate is higher than 70% 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 city. Individual neighborhoods within Eastpointe differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Eastpointe - 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 Eastpointe real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$79,012

Eastpointe, MI HOME PRICES

Value Range
> $1,362,000 0.2
$1,021,001 - $1,362,000 0.0
$681,001 - $1,021,000 0.0
$545,001 - $681,000 0.0
$408,001 - $545,000 0.0
$272,001 - $408,000 0.4
$136,001 - $272,000 11.7
$68,001 - $136,000 47.1
$0 - $68,000 40.7

Very Low for MI
Very Low for Nation

Value Relative to Nation Value Relative to State
91.8018387304562 93.5897435897436

Number Of Homes And Apartments:
12,399

Rent & Ownership

 

Average Market Rent:
$1,068 / per month

Homeownership Rate

Homeownership
Owners 70.50
Renters 29.50
Vacant 9.96

Housing Market Details

 

Age of Homes

AGE OF Eastpointe HOMES
2000 or Newer 0.8
1970 - 1999 10.5
1940 - 1969 78.6
1939 or Older 10.1

Types of Homes

TYPE OF Eastpointe HOMES
Single-Family 91.2
Townhomes 0.9
Small Apt. Buildings 1.1
Apt. Complexes 6.6
Mobile Homes 0.2
Other 0.0

Home Size

SIZE OF Eastpointe HOMES
No Bedroom 0.39
1 Bedroom 6.48
2 Bedrooms 16.87
3 Bedrooms 65.29
4 Bedrooms 9.45
5 or more bedrooms 1.53

Eastpointe 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
-41.06% -3.06% 1 1
* 10 is highest