New Haven, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating New Haven Neighborhoods Since 2000




New Haven, 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 Haven Housing Market Information

With a population of 4,694, 1,469 total housing units (homes and apartments), and a median house value of $128,103, house prices in New Haven are solidly below the national average.

Single-family detached homes are the single most common housing type in New Haven, accounting for 67.73% of the village's housing units. Other types of housing that are prevalent in New Haven include mobile homes or trailers ( 25.00%), large apartment complexes or high rise apartments ( 4.68%), and a few row houses and other attached homes ( 2.59%).

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 Haven. Owner-occupied housing accounts for 74.83% of New Haven's homes, and 89.78% have either three or four bedrooms, which is average sized relative to America.

New Haven homes and real estate are some of the newest in America. 41.93% of New Haven's housing was built since 2000, making the village have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the New Haven real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 33.99%), and between 1940-1969 ( 16.81%). There's also some housing in New Haven built before 1939 ( 7.27%).

New Haven Home Appreciation Rates

New Haven's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in New Haven during the period has been just -1.90%, which is lower than 80% of US communities.

Appreciation rates are so strong in New Haven that despite a nationwide downturn in the housing market, New Haven real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, New Haven appreciation rates continue to be some of the highest in America, at 8.67%, which is higher than appreciation rates in 89.56% 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 Haven. New Haven appreciation rates in the latest quarter were at 1.86%, which equates to an annual appreciation rate of 7.66%.

Importantly, this makes New Haven 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 New Haven's latest annual appreciation rate is higher than 80% of the other cities and towns in Michigan.

Average Home Values

 

Median Home Value:
$128,103

New Haven, MI HOME PRICES

Value Range
> $1,222,000 0.0
$916,001 - $1,222,000 0.5
$611,001 - $916,000 0.0
$489,001 - $611,000 0.0
$367,001 - $489,000 3.9
$244,001 - $367,000 2.5
$122,001 - $244,000 44.9
$61,001 - $122,000 25.6
$0 - $61,000 22.6

Average for MI
Low for Nation

Value Relative to Nation Value Relative to State
60.8871440290636 51.7628205128205

Number Of Homes And Apartments:
1,469

New Haven 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
-3.76% -0.22% 2 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,263 / per month

Homeownership Rate

Homeownership
Owners 74.83
Renters 25.17
Vacant 9.54

Housing Market Details

 

Age of Homes

AGE OF New Haven HOMES
2000 or Newer 41.9
1970 - 1999 34.0
1940 - 1969 16.8
1939 or Older 7.3

Types of Homes

TYPE OF New Haven HOMES
Single-Family 67.7
Townhomes 2.6
Small Apt. Buildings 0.0
Apt. Complexes 4.7
Mobile Homes 25.0
Other 0.0

Home Size

SIZE OF New Haven HOMES
No Bedroom 0.86
1 Bedroom 2.46
2 Bedrooms 6.90
3 Bedrooms 55.11
4 Bedrooms 34.67
5 or more bedrooms 0.00

Popular Neighborhoods in New Haven

Zip Codes in New Haven, MI