Melvindale, MI


Highest Appreciating Melvindale Neighborhoods Since 2000

Melvindale, 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

Melvindale Housing Market Information

With a population of 10,404, 4,124 total housing units (homes and apartments), and a median house value of $63,202, house prices in Melvindale 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 Melvindale, accounting for 66.88% of the city's housing units. Other types of housing that are prevalent in Melvindale include large apartment complexes or high rise apartments ( 17.34%), duplexes, homes converted to apartments or other small apartment buildings ( 7.72%), and a few row houses and other attached homes ( 7.70%).

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

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. Melvindale's housing was primarily built during this period, from the '40s through the '60s. A full 60.92% of the city's housing hails from this era. Other housing ages represented in Melvindale include homes built between 1970-1999 ( 15.84%) and housing constructed before 1939 ( 12.60%). There's also some housing in Melvindale built between 2000 and later ( 10.64%).

Melvindale Home Appreciation Rates

Homes have actually lost value in Melvindale over the last then years, as home values have seen a decline of 31.75% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Melvindale home appreciation rates at 1.86%, which equates to an annual appreciation rate of 7.66%.

Appreciation rates are so strong in Melvindale that despite a nationwide downturn in the housing market, Melvindale real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Melvindale appreciation rates continue to be some of the highest in America, at 14.13%, which is higher than appreciation rates in 99.07% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Melvindale. Melvindale appreciation rates in the latest quarter were at 1.86%, which equates to an annual appreciation rate of 7.66%.

Importantly, this makes Melvindale 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 Melvindale's latest annual appreciation rate is higher than 90% of the other cities and towns in Michigan.

Average Home Values


Median Home Value:

Melvindale, MI HOME PRICES

Value Range
> $1,221,000 0.0
$916,001 - $1,221,000 0.0
$611,001 - $916,000 0.0
$489,001 - $611,000 0.0
$366,001 - $489,000 0.0
$244,001 - $366,000 0.0
$122,001 - $244,000 10.8
$61,001 - $122,000 43.2
$0 - $61,000 46.0

Very Low for MI
Very Low for Nation

Value Relative to Nation Value Relative to State
97.3280206258057 96.6346153846154

Number Of Homes And Apartments:

Melvindale Appreciation Rates

Time Period Total Appreciation Avg. Annual Rate Compared To
Compared To
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
-30.01% -2.05% 1 1
* 10 is highest

Rent & Ownership


Average Market Rent:
$1,036 / per month

Homeownership Rate

Owners 60.06
Renters 39.94
Vacant 9.00

Housing Market Details


Age of Homes

AGE OF Melvindale HOMES
2000 or Newer 10.6
1970 - 1999 15.8
1940 - 1969 60.9
1939 or Older 12.6

Types of Homes

TYPE OF Melvindale HOMES
Single-Family 66.9
Townhomes 7.7
Small Apt. Buildings 7.7
Apt. Complexes 17.3
Mobile Homes 0.4
Other 0.0

Home Size

SIZE OF Melvindale HOMES
No Bedroom 0.86
1 Bedroom 12.84
2 Bedrooms 37.16
3 Bedrooms 39.25
4 Bedrooms 8.25
5 or more bedrooms 1.63