Goodrich, MI Real Estate Market

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 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Goodrich, MI Housing Market Trends

With a population of 1,884, 634 total housing units (homes and apartments), and a median house value of $222,866, Goodrich real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Goodrich, accounting for 82.31% of the village's housing units. Other types of housing that are prevalent in Goodrich include row houses and other attached homes ( 14.62%), large apartment complexes or high rise apartments ( 1.90%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.17%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Goodrich. Owner-occupied housing accounts for 89.91% of Goodrich's homes, and 77.49% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Goodrich 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 Goodrich built between 2000 and later ( 31.29%). A lesser amount of the housing stock also hails from before 1939 ( 17.84%). There's also some housing in Goodrich built between 1940-1969 ( 11.26%).

Goodrich Home Appreciation Rates

In the last 10 years, Goodrich has experienced some of the highest home appreciation rates of any community in the nation. Goodrich real estate appreciated 60.56% over the last ten years, which is an average annual home appreciation rate of 4.85%, putting Goodrich in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Goodrich definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Goodrich appreciation rates have trailed the rest of the nation. In the last twelve months, Goodrich's appreciation rate has been 5.58%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Goodrich were at 2.03%, which equates to an annual appreciation rate of 8.39%.

Relative to Michigan, our data show that Goodrich's latest annual appreciation rate is lower than 60% of the other cities and towns in Michigan.

Average Home Values

 

Median Home Value:
$222,866

Goodrich, MI HOME PRICES

> $1,162,000
0.9%
0.9%
$871,001 - $1,162,000
0.0%
0.0%
$581,001 - $871,000
0.0%
0.0%
$465,001 - $581,000
1.1%
1.1%
$349,001 - $465,000
10.8%
10.8%
$232,001 - $349,000
32.7%
32.7%
$116,001 - $232,000
44.0%
44.0%
$58,001 - $116,000
8.1%
8.1%
$0 - $58,000
2.6%
2.6%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

High for MI

Value Relative To Nation

Number Of Homes And Apartments:
634

Goodrich Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
2020 Q4 - 2021 Q1
Last 12 Months:
2020 Q1 - 2021 Q1
Last 2 Years:
2019 Q1 - 2021 Q1
Last 5 Years:
2016 Q1 - 2021 Q1
Last 10 Years:
2011 Q1 - 2021 Q1
Since 2000:
2000 Q1 - 2021 Q1
18.05% 0.78%
2
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,208 / per month

Homeownership Rate

Owners
89.9%
89.9%
Renters
10.1%
10.1%
Vacant
7.3%
7.3%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
31.3%
31.3%
1970 - 1999
39.6%
39.6%
1940 - 1969
11.3%
11.3%
1939 or Older
17.8%
17.8%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
82.3%
82.3%
Townhomes
14.6%
14.6%
Small Apt. Buildings
1.2%
1.2%
Apt. Complexes
1.9%
1.9%
Mobile Homes
0.0%
0.0%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.0%
0.0%
1 Bedroom
2.5%
2.5%
2 Bedrooms
15.5%
15.5%
3 Bedrooms
46.6%
46.6%
4 Bedrooms
30.8%
30.8%
5 or more bedrooms
4.5%
4.5%
0.0% 100.0%
% OF HOMES

Popular Neighborhoods in Goodrich

Zip Codes in Goodrich, MI