Manchester, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Manchester Neighborhoods Since 2000




Manchester, 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

Manchester Housing Market Information

With 2,143 people, 870 houses or apartments, and a median cost of homes of $216,801, Manchester real estate is some of the most expensive in Michigan, although Manchester home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Manchester, accounting for 61.95% of the village's housing units. Other types of housing that are prevalent in Manchester include large apartment complexes or high rise apartments ( 11.24%), mobile homes or trailers ( 11.14%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 11.04%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Manchester. Owner-occupied housing accounts for 72.70% of Manchester's homes, and 56.63% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Manchester 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 Manchester built before 1939 ( 36.75%). A lesser amount of the housing stock also hails from between 2000 and later ( 13.15%). There's also some housing in Manchester built between 1940-1969 ( 8.84%).

Vacant housing appears to be an issue in Manchester. Fully 12.65% of the housing stock is classified as vacant. Left unchecked, vacant Manchester homes and apartments can be a drag on the real estate market, holding Manchester 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.

Manchester Home Appreciation Rates

Manchester's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Manchester during the period has been just -0.80%, which is lower than 70% of US communities.

Appreciation rates are so strong in Manchester that despite a nationwide downturn in the housing market, Manchester real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Manchester appreciation rates continue to be some of the highest in America, at 5.76%, which is higher than appreciation rates in 71.99% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Manchester. Manchester appreciation rates in the latest quarter were at 2.57%, which equates to an annual appreciation rate of 10.67%.

Importantly, this makes Manchester one of the highest appreciating communities in the nation for the latest quarter, and may signal the village's near-future real estate investment strength.

Relative to Michigan, our data show that Manchester's latest annual appreciation rate is higher than 50% of the other cities and towns in Michigan.

Average Home Values

 

Median Home Value:
$216,801

Manchester, MI HOME PRICES

Value Range
> $1,240,000 0.0
$930,001 - $1,240,000 0.0
$620,001 - $930,000 0.0
$496,001 - $620,000 1.7
$372,001 - $496,000 6.1
$248,001 - $372,000 29.3
$124,001 - $248,000 44.7
$62,001 - $124,000 10.2
$0 - $62,000 8.0

Very High for MI
High for Nation

Value Relative to Nation Value Relative to State
28.3487636235791 12.1794871794872

Number Of Homes And Apartments:
870

Manchester 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
5.83% 0.33% 5 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$801 / per month

Homeownership Rate

Homeownership
Owners 72.70
Renters 27.30
Vacant 12.65

Housing Market Details

 

Age of Homes

AGE OF Manchester HOMES
2000 or Newer 13.2
1970 - 1999 41.3
1940 - 1969 8.8
1939 or Older 36.7

Types of Homes

TYPE OF Manchester HOMES
Single-Family 61.9
Townhomes 4.6
Small Apt. Buildings 11.0
Apt. Complexes 11.2
Mobile Homes 11.1
Other 0.0

Home Size

SIZE OF Manchester HOMES
No Bedroom 2.61
1 Bedroom 10.94
2 Bedrooms 27.41
3 Bedrooms 38.86
4 Bedrooms 17.77
5 or more bedrooms 2.41