Lincoln Park, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Lincoln Park Neighborhoods Since 2000




Lincoln Park, 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

Lincoln Park Housing Market Information

With a population of 37,012, 14,401 total housing units (homes and apartments), and a median house value of $74,300, house prices in Lincoln Park 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 Lincoln Park, accounting for 83.07% of the city's housing units. Other types of housing that are prevalent in Lincoln Park include large apartment complexes or high rise apartments ( 9.49%), duplexes, homes converted to apartments or other small apartment buildings ( 5.33%), and a few row houses and other attached homes ( 1.35%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Lincoln Park. Owner-occupied housing accounts for 69.75% of Lincoln Park's homes, and 63.28% 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. Lincoln Park's housing was primarily built during this period, from the '40s through the '60s. A full 74.03% of the city's housing hails from this era. Other housing ages represented in Lincoln Park include homes built before 1939 ( 12.84%) and housing constructed between 1970-1999 ( 11.50%). There's also some housing in Lincoln Park built between 2000 and later ( 1.63%).

Vacant housing appears to be an issue in Lincoln Park. Fully 10.49% of the housing stock is classified as vacant. Left unchecked, vacant Lincoln Park homes and apartments can be a drag on the real estate market, holding Lincoln Park 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.

Lincoln Park Home Appreciation Rates

Homes have actually lost value in Lincoln Park over the last then years, as home values have seen a decline of 33.87% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Lincoln Park home appreciation rates at 1.86%, which equates to an annual appreciation rate of 7.66%.

Appreciation rates are so strong in Lincoln Park that despite a nationwide downturn in the housing market, Lincoln Park real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Lincoln Park appreciation rates continue to be some of the highest in America, at 10.93%, which is higher than appreciation rates in 95.90% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Lincoln Park. Lincoln Park appreciation rates in the latest quarter were at 1.86%, which equates to an annual appreciation rate of 7.66%.

Importantly, this makes Lincoln Park 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 Lincoln Park's latest annual appreciation rate is higher than 90% 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 Lincoln Park differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Lincoln Park - 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 Lincoln Park real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$74,300

Lincoln Park, MI HOME PRICES

Value Range
> $1,308,000 0.0
$981,001 - $1,308,000 0.0
$654,001 - $981,000 0.4
$523,001 - $654,000 0.4
$392,001 - $523,000 0.5
$262,001 - $392,000 1.0
$131,001 - $262,000 9.6
$65,001 - $131,000 50.7
$0 - $65,000 37.4

Very Low for MI
Very Low for Nation

Value Relative to Nation Value Relative to State
93.4665416617837 93.5897435897436

Number Of Homes And Apartments:
14,401

Lincoln Park 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
-27.00% -1.81% 1 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,131 / per month

Homeownership Rate

Homeownership
Owners 69.75
Renters 30.25
Vacant 10.49

Housing Market Details

 

Age of Homes

AGE OF Lincoln Park HOMES
2000 or Newer 1.6
1970 - 1999 11.5
1940 - 1969 74.0
1939 or Older 12.8

Types of Homes

TYPE OF Lincoln Park HOMES
Single-Family 83.1
Townhomes 1.3
Small Apt. Buildings 5.3
Apt. Complexes 9.5
Mobile Homes 0.8
Other 0.0

Home Size

SIZE OF Lincoln Park HOMES
No Bedroom 0.86
1 Bedroom 9.48
2 Bedrooms 24.65
3 Bedrooms 54.35
4 Bedrooms 8.93
5 or more bedrooms 1.73