Grand Haven, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Grand Haven Neighborhoods Since 2000




Grand Haven, 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

Grand Haven Housing Market Information

With 11,062 people, 4,988 houses or apartments, and a median cost of homes of $180,416, Grand Haven real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Grand Haven, accounting for 60.35% of the city's housing units. Other types of housing that are prevalent in Grand Haven include large apartment complexes or high rise apartments ( 18.65%), duplexes, homes converted to apartments or other small apartment buildings ( 9.54%), and a few mobile homes or trailers ( 7.55%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Grand Haven. Owner-occupied housing accounts for 68.48% of Grand Haven's homes, and 48.88% 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. Grand Haven's housing was primarily built during this period, from the '40s through the '60s. A full 33.50% of the city's housing hails from this era. Other housing ages represented in Grand Haven include homes built before 1939 ( 31.71%) and housing constructed between 1970-1999 ( 26.97%). There's also some housing in Grand Haven built between 2000 and later ( 7.83%).

Vacant housing appears to be an issue in Grand Haven. Fully 18.97% of the housing stock is classified as vacant. Left unchecked, vacant Grand Haven homes and apartments can be a drag on the real estate market, holding Grand Haven real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Grand Haven Home Appreciation Rates

Appreciation rates for homes in Grand Haven have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 9.94%, which ranks in the top 30% nationwide. This equates to an annual average Grand Haven house appreciation rate of 0.95%.

Appreciation rates are so strong in Grand Haven that despite a nationwide downturn in the housing market, Grand Haven real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Grand Haven appreciation rates continue to be some of the highest in America, at 8.37%, which is higher than appreciation rates in 88.38% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Grand Haven. Grand Haven appreciation rates in the latest quarter were at 3.68%, which equates to an annual appreciation rate of 15.57%.

Importantly, this makes Grand Haven one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Michigan, our data show that Grand Haven'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 Grand Haven differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Grand Haven - 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 Grand Haven real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$180,416

Grand Haven, MI HOME PRICES

Value Range
> $1,232,000 1.5
$924,001 - $1,232,000 1.0
$616,001 - $924,000 0.8
$493,001 - $616,000 2.9
$370,001 - $493,000 7.1
$247,001 - $370,000 10.6
$123,001 - $247,000 49.7
$61,001 - $123,000 19.4
$0 - $61,000 6.9

High for MI
High for Nation

Value Relative to Nation Value Relative to State
37.9760928161256 22.4358974358974

Number Of Homes And Apartments:
4,988

Grand Haven 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
31.79% 1.61% 9 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$927 / per month

Homeownership Rate

Homeownership
Owners 68.48
Renters 31.52
Vacant 18.97

Housing Market Details

 

Age of Homes

AGE OF Grand Haven HOMES
2000 or Newer 7.8
1970 - 1999 27.0
1940 - 1969 33.5
1939 or Older 31.7

Types of Homes

TYPE OF Grand Haven HOMES
Single-Family 60.3
Townhomes 3.9
Small Apt. Buildings 9.5
Apt. Complexes 18.6
Mobile Homes 7.6
Other 0.0

Home Size

SIZE OF Grand Haven HOMES
No Bedroom 2.66
1 Bedroom 6.99
2 Bedrooms 37.31
3 Bedrooms 35.38
4 Bedrooms 13.50
5 or more bedrooms 4.16