Goodrich MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Goodrich, 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 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Goodrich Housing Market Information

With 1,873 people, 1,768 houses or apartments, and a median cost of homes of $209,922, 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 95.47% of the village's housing units. Other types of housing that are prevalent in Goodrich include row houses and other attached homes ( 3.75%).

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 93.46% of Goodrich's homes, and 88.48% 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 1940-1969 ( 19.18%). A lesser amount of the housing stock also hails from between 2000 and later ( 14.76%). There's also some housing in Goodrich built before 1939 ( 8.22%).

Goodrich Home Appreciation Rates

Appreciation rates for homes in Goodrich have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 43.34%, which ranks in the top 30% nationwide. This equates to an annual average Goodrich house appreciation rate of 3.67%.

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 2.02%, 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 0.16%, which equates to an annual appreciation rate of 0.64%.

Notably, Goodrich's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Michigan, our data show that Goodrich's latest annual appreciation rate is lower than 90% of the other cities and towns in Michigan.

Average Home Values

 

Median Home Value:
$209,922

Goodrich, MI HOME PRICES

Value Range
> $1,155,000 0.0
$866,001 - $1,155,000 0.0
$577,001 - $866,000 0.0
$462,001 - $577,000 1.0
$346,001 - $462,000 8.9
$231,001 - $346,000 27.8
$115,001 - $231,000 49.2
$58,001 - $115,000 9.7
$0 - $58,000 3.3

High for MI
High for Nation

Value Relative to Nation Value Relative to State
37.7284671532847 21.3141025641026

Number Of Homes And Apartments:
1,768

Goodrich Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
2019 Q4 - 2020 Q1
Last 12 Months:
2019 Q1 - 2020 Q1
Last 2 Years:
2018 Q1 - 2020 Q1
Last 5 Years:
2015 Q1 - 2020 Q1
Last 10 Years:
2010 Q1 - 2020 Q1
Since 2000:
2000 Q1 - 2020 Q1
9.58% 0.45%
2
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,482 / per month

Homeownership Rate

Homeownership
Owners 93.46
Renters 6.54
Vacant 3.80

Housing Market Details

 

Age of Homes

AGE OF Goodrich HOMES
2000 or Newer 14.8
1970 - 1999 57.8
1940 - 1969 19.2
1939 or Older 8.2

Types of Homes

TYPE OF Goodrich HOMES
Single-Family 95.5
Townhomes 3.7
Small Apt. Buildings 0.3
Apt. Complexes 0.5
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Goodrich HOMES
No Bedroom 0.00
1 Bedroom 1.32
2 Bedrooms 3.44
3 Bedrooms 60.98
4 Bedrooms 27.51
5 or more bedrooms 6.76

Popular Neighborhoods in Goodrich

Zip Codes in Goodrich, MI