Kentwood, 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 Q2 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

Kentwood, MI Housing Market Trends

With 51,898 people, 20,339 houses or apartments, and a median cost of homes of $225,046, Kentwood real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Kentwood, accounting for 49.22% of the city's housing units. Other types of housing that are prevalent in Kentwood include large apartment complexes or high rise apartments ( 31.51%), row houses and other attached homes ( 10.73%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.93%).

People in Kentwood primarily live in small (one, two or no bedroom) single-family detached homes. Kentwood has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Kentwood 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 Kentwood built between 1940-1969 ( 22.73%). A lesser amount of the housing stock also hails from between 2000 and later ( 14.62%). There's also some housing in Kentwood built before 1939 ( 1.96%).

Kentwood Home Appreciation Rates

In the last 10 years, Kentwood has experienced some of the highest home appreciation rates of any community in the nation. Kentwood real estate appreciated 98.92% over the last ten years, which is an average annual home appreciation rate of 7.12%, putting Kentwood in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Kentwood definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Kentwood that despite a nationwide downturn in the housing market, Kentwood real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Kentwood appreciation rates continue to be some of the highest in America, at 10.46%, which is higher than appreciation rates in 70.97% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Kentwood. Kentwood appreciation rates in the latest quarter were at 3.27%, which equates to an annual appreciation rate of 13.75%.

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

Average Home Values

 

Median Home Value:
$225,046

Kentwood, MI HOME PRICES

> $1,326,000
0.4%
0.4%
$994,001 - $1,326,000
0.3%
0.3%
$663,001 - $994,000
0.3%
0.3%
$530,001 - $663,000
1.5%
1.5%
$398,001 - $530,000
4.7%
4.7%
$265,001 - $398,000
19.9%
19.9%
$132,001 - $265,000
54.8%
54.8%
$66,001 - $132,000
10.7%
10.7%
$0 - $66,000
7.5%
7.5%
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:
20,339

Kentwood Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
64.27% 2.34%
8
4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,363 / per month

Homeownership Rate

Owners
57.7%
57.7%
Renters
42.3%
42.3%
Vacant
2.5%
2.5%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
14.6%
14.6%
1970 - 1999
60.7%
60.7%
1940 - 1969
22.7%
22.7%
1939 or Older
2.0%
2.0%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
49.2%
49.2%
Townhomes
10.7%
10.7%
Small Apt. Buildings
4.9%
4.9%
Apt. Complexes
31.5%
31.5%
Mobile Homes
3.5%
3.5%
Other
0.1%
0.1%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
2.3%
2.3%
1 Bedroom
14.0%
14.0%
2 Bedrooms
32.8%
32.8%
3 Bedrooms
34.2%
34.2%
4 Bedrooms
13.9%
13.9%
5 or more bedrooms
2.7%
2.7%
0.0% 100.0%
% OF HOMES