New Boston, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating New Boston Neighborhoods Since 2000




New Boston, 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 Boston Housing Market Information

With 9,472 people, 1,904 houses or apartments, and a median cost of homes of $218,581, New Boston real estate is some of the most expensive in Michigan, although New Boston home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in New Boston, accounting for 73.47% of the town's housing units. Other types of housing that are prevalent in New Boston include mobile homes or trailers ( 18.56%), row houses and other attached homes ( 5.74%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.02%).

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 Boston. Owner-occupied housing accounts for 85.74% of New Boston's homes, and 79.62% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in New Boston 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 Boston built between 2000 and later ( 32.92%). A lesser amount of the housing stock also hails from between 1940-1969 ( 12.68%). There's also some housing in New Boston built before 1939 ( 5.48%).

New Boston Home Appreciation Rates

Real estate appreciation rates in New Boston's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.62% during the period.

NeighborhoodScout's data show that during the latest twelve months, New Boston's appreciation rate, at 4.08%, has been at or slightly above the national average. In the latest quarter, New Boston's appreciation rate has been 1.86%, which annualizes to a rate of 7.66%.

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

Relative to Michigan, our data show that New Boston's latest annual appreciation rate is lower than 60% of the other cities and towns in Michigan.

Average Home Values

 

Median Home Value:
$218,581

New Boston, MI HOME PRICES

Value Range
> $1,230,000 0.2
$923,001 - $1,230,000 0.0
$615,001 - $923,000 0.1
$492,001 - $615,000 0.8
$369,001 - $492,000 9.2
$246,001 - $369,000 27.0
$123,001 - $246,000 39.2
$61,001 - $123,000 9.1
$0 - $61,000 14.4

Very High for MI
High for Nation

Value Relative to Nation Value Relative to State
27.9620297667878 12.0192307692308

Number Of Homes And Apartments:
1,904

New Boston 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
1.52% 0.09% 4 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,273 / per month

Homeownership Rate

Homeownership
Owners 85.74
Renters 14.26
Vacant 5.95

Housing Market Details

 

Age of Homes

AGE OF New Boston HOMES
2000 or Newer 32.9
1970 - 1999 48.9
1940 - 1969 12.7
1939 or Older 5.5

Types of Homes

TYPE OF New Boston HOMES
Single-Family 73.5
Townhomes 5.7
Small Apt. Buildings 2.0
Apt. Complexes 0.2
Mobile Homes 18.6
Other 0.0

Home Size

SIZE OF New Boston HOMES
No Bedroom 0.98
1 Bedroom 2.09
2 Bedrooms 12.84
3 Bedrooms 52.30
4 Bedrooms 27.33
5 or more bedrooms 4.46