Plymouth, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Plymouth Neighborhoods Since 2000




Plymouth, 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

Plymouth Housing Market Information

With a population of 8,905, 4,083 total housing units (homes and apartments), and a median house value of $324,053, Plymouth house prices are not only among the most expensive in Michigan, Plymouth real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Plymouth, accounting for 55.13% of the city's housing units. Other types of housing that are prevalent in Plymouth include large apartment complexes or high rise apartments ( 22.02%), duplexes, homes converted to apartments or other small apartment buildings ( 16.93%), and a few row houses and other attached homes ( 5.30%).

People in Plymouth primarily live in small (one, two or no bedroom) single-family detached homes. Plymouth 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. Plymouth's housing was primarily built during this period, from the '40s through the '60s. A full 46.03% of the city's housing hails from this era. Other housing ages represented in Plymouth include homes built before 1939 ( 28.31%) and housing constructed between 1970-1999 ( 20.84%). There's also some housing in Plymouth built between 2000 and later ( 4.82%).

Plymouth Home Appreciation Rates

In the last 10 years, Plymouth has experienced some of the highest home appreciation rates of any community in the nation. Plymouth real estate appreciated 19.70% over the last ten years, which is an average annual home appreciation rate of 1.81%, putting Plymouth in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Plymouth definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Plymouth that despite a nationwide downturn in the housing market, Plymouth real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Plymouth appreciation rates continue to be some of the highest in America, at 7.76%, which is higher than appreciation rates in 85.58% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Plymouth. Plymouth appreciation rates in the latest quarter were at 1.86%, which equates to an annual appreciation rate of 7.66%.

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

Average Home Values

 

Median Home Value:
$324,053

Plymouth, MI HOME PRICES

Value Range
> $1,306,000 0.0
$980,001 - $1,306,000 0.6
$653,001 - $980,000 2.8
$523,001 - $653,000 5.9
$392,001 - $523,000 15.2
$261,001 - $392,000 31.5
$131,001 - $261,000 30.2
$65,001 - $131,000 9.9
$0 - $65,000 3.9

Very High for MI
Very High for Nation

Value Relative to Nation Value Relative to State
14.1978202273526 3.84615384615385

Number Of Homes And Apartments:
4,083

Plymouth 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
31.79% 1.61% 9 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,119 / per month

Homeownership Rate

Homeownership
Owners 59.99
Renters 40.01
Vacant 7.60

Housing Market Details

 

Age of Homes

AGE OF Plymouth HOMES
2000 or Newer 4.8
1970 - 1999 20.8
1940 - 1969 46.0
1939 or Older 28.3

Types of Homes

TYPE OF Plymouth HOMES
Single-Family 55.1
Townhomes 5.3
Small Apt. Buildings 16.9
Apt. Complexes 22.0
Mobile Homes 0.6
Other 0.0

Home Size

SIZE OF Plymouth HOMES
No Bedroom 0.34
1 Bedroom 18.38
2 Bedrooms 30.12
3 Bedrooms 35.98
4 Bedrooms 12.74
5 or more bedrooms 2.44