New Baltimore, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating New Baltimore Neighborhoods Since 2000




New Baltimore, 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

New Baltimore Housing Market Information

With 12,354 people, 4,523 houses or apartments, and a median cost of homes of $220,628, New Baltimore real estate is some of the most expensive in Michigan, although New Baltimore home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in New Baltimore, accounting for 74.94% of the city's housing units. Other types of housing that are prevalent in New Baltimore include large apartment complexes or high rise apartments ( 13.73%), row houses and other attached homes ( 7.43%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.90%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in New Baltimore. Owner-occupied housing accounts for 80.55% of New Baltimore's homes, and 70.60% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in New Baltimore 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 New Baltimore built between 2000 and later ( 35.47%). A lesser amount of the housing stock also hails from between 1940-1969 ( 18.48%). There's also some housing in New Baltimore built before 1939 ( 8.09%).

New Baltimore Home Appreciation Rates

Real estate appreciation rates in New Baltimore's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.23% during the period.

Appreciation rates are so strong in New Baltimore that despite a nationwide downturn in the housing market, New Baltimore real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, New Baltimore appreciation rates continue to be some of the highest in America, at 7.32%, which is higher than appreciation rates in 83.16% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in New Baltimore. New Baltimore appreciation rates in the latest quarter were at 1.86%, which equates to an annual appreciation rate of 7.66%.

Importantly, this makes New Baltimore 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 New Baltimore'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 New Baltimore differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in New Baltimore - 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 New Baltimore real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$220,628

New Baltimore, MI HOME PRICES

Value Range
> $1,275,000 0.2
$956,001 - $1,275,000 0.0
$637,001 - $956,000 0.6
$510,001 - $637,000 0.4
$383,001 - $510,000 4.2
$255,001 - $383,000 32.7
$127,001 - $255,000 44.2
$64,001 - $127,000 14.7
$0 - $64,000 3.0

Very High for MI
High for Nation

Value Relative to Nation Value Relative to State
27.6104535333411 11.6987179487179

Number Of Homes And Apartments:
4,523

New Baltimore 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
10.71% 0.59% 6 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,017 / per month

Homeownership Rate

Homeownership
Owners 80.55
Renters 19.45
Vacant 3.70

Housing Market Details

 

Age of Homes

AGE OF New Baltimore HOMES
2000 or Newer 35.5
1970 - 1999 38.0
1940 - 1969 18.5
1939 or Older 8.1

Types of Homes

TYPE OF New Baltimore HOMES
Single-Family 74.9
Townhomes 7.4
Small Apt. Buildings 3.9
Apt. Complexes 13.7
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF New Baltimore HOMES
No Bedroom 0.00
1 Bedroom 8.75
2 Bedrooms 18.97
3 Bedrooms 51.97
4 Bedrooms 18.63
5 or more bedrooms 1.68