Inkster, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Inkster Neighborhoods Since 2000




Inkster, 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

Inkster Housing Market Information

With a population of 24,672, 9,451 total housing units (homes and apartments), and a median house value of $61,433, house prices in Inkster 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 Inkster, accounting for 74.16% of the city's housing units. Other types of housing that are prevalent in Inkster include large apartment complexes or high rise apartments ( 19.59%), duplexes, homes converted to apartments or other small apartment buildings ( 4.06%), and a few row houses and other attached homes ( 1.64%).

The most prevalent building size and type in Inkster are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 51.14% owning and 48.86% renting.

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. Inkster's housing was primarily built during this period, from the '40s through the '60s. A full 72.47% of the city's housing hails from this era. Other housing ages represented in Inkster include homes built between 1970-1999 ( 19.35%) and housing constructed before 1939 ( 5.36%). There's also some housing in Inkster built between 2000 and later ( 2.82%).

Vacant housing appears to be an issue in Inkster. Fully 16.89% of the housing stock is classified as vacant. Left unchecked, vacant Inkster homes and apartments can be a drag on the real estate market, holding Inkster 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.

Inkster Home Appreciation Rates

Inkster's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Inkster during the period has been just -1.38%, which is lower than 80% of US communities.

Appreciation rates are so strong in Inkster that despite a nationwide downturn in the housing market, Inkster real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Inkster appreciation rates continue to be some of the highest in America, at 6.88%, which is higher than appreciation rates in 80.54% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Inkster. Inkster appreciation rates in the latest quarter were at 1.86%, which equates to an annual appreciation rate of 7.66%.

Importantly, this makes Inkster 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 Inkster's latest annual appreciation rate is higher than 60% 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 Inkster differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Inkster - 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 Inkster real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$61,433

Inkster, MI HOME PRICES

Value Range
> $1,217,000 0.1
$912,001 - $1,217,000 0.1
$608,001 - $912,000 0.3
$487,001 - $608,000 0.2
$365,001 - $487,000 0.1
$243,001 - $365,000 0.1
$122,001 - $243,000 8.5
$61,001 - $122,000 39.9
$0 - $61,000 50.6

Very Low for MI
Very Low for Nation

Value Relative to Nation Value Relative to State
97.7323332942693 97.275641025641

Number Of Homes And Apartments:
9,451

Inkster 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
3.82% 0.22% 4 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,050 / per month

Homeownership Rate

Homeownership
Owners 51.14
Renters 48.86
Vacant 16.89

Housing Market Details

 

Age of Homes

AGE OF Inkster HOMES
2000 or Newer 2.8
1970 - 1999 19.3
1940 - 1969 72.5
1939 or Older 5.4

Types of Homes

TYPE OF Inkster HOMES
Single-Family 74.2
Townhomes 1.6
Small Apt. Buildings 4.1
Apt. Complexes 19.6
Mobile Homes 0.5
Other 0.0

Home Size

SIZE OF Inkster HOMES
No Bedroom 0.66
1 Bedroom 12.55
2 Bedrooms 24.44
3 Bedrooms 51.57
4 Bedrooms 8.57
5 or more bedrooms 2.22