Livonia, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Livonia, MI Real Estate Data


Livonia Housing Market Information

With 94,635 people, 37,262 houses or apartments, and a median cost of homes of $207,541, Livonia real estate is some of the most expensive in Michigan, although Livonia home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Livonia, accounting for 87.28% of the city's housing units. Other types of housing that are prevalent in Livonia include large apartment complexes or high rise apartments ( 8.22%), row houses and other attached homes ( 2.86%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.50%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Livonia. Owner-occupied housing accounts for 83.54% of Livonia's homes, and 79.69% 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. Livonia's housing was primarily built during this period, from the '40s through the '60s. A full 62.78% of the city's housing hails from this era. Other housing ages represented in Livonia include homes built between 1970-1999 ( 29.57%) and housing constructed between 2000 and later ( 3.98%). There's also some housing in Livonia built before 1939 ( 3.68%).

Livonia Home Appreciation Rates

Livonia's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Livonia during the period has been just -1.06%, which is lower than 70% of US communities.

Appreciation rates are so strong in Livonia that despite a nationwide downturn in the housing market, Livonia real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Livonia appreciation rates continue to be some of the highest in America, at 5.75%, which is higher than appreciation rates in 70.67% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Livonia. Livonia appreciation rates in the latest quarter were at 1.97%, which equates to an annual appreciation rate of 8.12%.

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

Average Home Values

 

Median Home Value:
$207,541

Livonia, MI HOME PRICES

Value Range
> $1,321,000 0.2
$991,001 - $1,321,000 0.1
$660,001 - $991,000 0.3
$528,001 - $660,000 0.5
$396,001 - $528,000 3.2
$264,001 - $396,000 18.2
$132,001 - $264,000 58.2
$66,001 - $132,000 14.6
$0 - $66,000 4.8

Very High for MI
High for Nation

Value Relative to Nation Value Relative to State
31.3403993675704 13.9423076923077

Number Of Homes And Apartments:
37,262

Rent & Ownership

 

Average Market Rent:
$1,289 / per month

Homeownership Rate

Homeownership
Owners 83.54
Renters 16.46
Vacant 4.84

Housing Market Details

 

Age of Homes

AGE OF Livonia HOMES
2000 or Newer 4.0
1970 - 1999 29.6
1940 - 1969 62.8
1939 or Older 3.7

Types of Homes

TYPE OF Livonia HOMES
Single-Family 87.3
Townhomes 2.9
Small Apt. Buildings 1.5
Apt. Complexes 8.2
Mobile Homes 0.1
Other 0.0

Home Size

SIZE OF Livonia HOMES
No Bedroom 0.82
1 Bedroom 5.37
2 Bedrooms 12.18
3 Bedrooms 57.49
4 Bedrooms 22.20
5 or more bedrooms 1.94

Livonia Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
-2.66% -0.16% 3 1
* 10 is highest