Madison Heights, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Madison Heights, MI Real Estate Data


Madison Heights Housing Market Information

With a population of 30,198, 12,945 total housing units (homes and apartments), and a median house value of $130,458, house prices in Madison Heights are solidly below the national average.

Single-family detached homes are the single most common housing type in Madison Heights, accounting for 69.75% of the city's housing units. Other types of housing that are prevalent in Madison Heights include large apartment complexes or high rise apartments ( 22.17%), mobile homes or trailers ( 2.84%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.64%).

The most prevalent building size and type in Madison Heights are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 62.10% owning and 37.90% 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. Madison Heights's housing was primarily built during this period, from the '40s through the '60s. A full 62.89% of the city's housing hails from this era. Other housing ages represented in Madison Heights include homes built between 1970-1999 ( 28.83%) and housing constructed before 1939 ( 6.24%). There's also some housing in Madison Heights built between 2000 and later ( 2.04%).

Madison Heights Home Appreciation Rates

Madison Heights's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Madison Heights during the period has been just -1.86%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Madison Heights's appreciation rate, at 5.70%, has been at or slightly above the national average. In the latest quarter, Madison Heights's appreciation rate has been 1.97%, which annualizes to a rate of 8.12%.

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

Average Home Values

 

Median Home Value:
$130,458

Madison Heights, MI HOME PRICES

Value Range
> $1,421,000 0.3
$1,066,001 - $1,421,000 0.0
$710,001 - $1,066,000 0.0
$568,001 - $710,000 0.1
$426,001 - $568,000 0.2
$284,001 - $426,000 6.8
$142,001 - $284,000 25.4
$71,001 - $142,000 45.7
$0 - $71,000 21.5

Average for MI
Low for Nation

Value Relative to Nation Value Relative to State
60.5375651461029 51.1217948717949

Number Of Homes And Apartments:
12,945

Rent & Ownership

 

Average Market Rent:
$1,007 / per month

Homeownership Rate

Homeownership
Owners 62.10
Renters 37.90
Vacant 7.52

Housing Market Details

 

Age of Homes

AGE OF Madison Heights HOMES
2000 or Newer 2.0
1970 - 1999 28.8
1940 - 1969 62.9
1939 or Older 6.2

Types of Homes

TYPE OF Madison Heights HOMES
Single-Family 69.8
Townhomes 2.6
Small Apt. Buildings 2.6
Apt. Complexes 22.2
Mobile Homes 2.8
Other 0.0

Home Size

SIZE OF Madison Heights HOMES
No Bedroom 1.60
1 Bedroom 17.17
2 Bedrooms 23.96
3 Bedrooms 49.64
4 Bedrooms 7.12
5 or more bedrooms 0.51

Madison Heights 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
-12.16% -0.76% 1 1
* 10 is highest