Pontiac, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Pontiac, 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 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Pontiac Housing Market Information

With 59,792 people, 23,262 houses or apartments, and a median cost of homes of $62,662, house prices in Pontiac 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 Pontiac, accounting for 63.28% of the city's housing units. Other types of housing that are prevalent in Pontiac include large apartment complexes or high rise apartments ( 24.90%), duplexes, homes converted to apartments or other small apartment buildings ( 8.01%), and a few row houses and other attached homes ( 2.24%).

People in Pontiac primarily live in small (one, two or no bedroom) single-family detached homes. Pontiac 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. Pontiac's housing was primarily built during this period, from the '40s through the '60s. A full 47.64% of the city's housing hails from this era. Other housing ages represented in Pontiac include homes built before 1939 ( 21.76%) and housing constructed between 1970-1999 ( 21.24%). There's also some housing in Pontiac built between 2000 and later ( 9.36%).

Vacant housing appears to be an issue in Pontiac. Fully 14.58% of the housing stock is classified as vacant. Left unchecked, vacant Pontiac homes and apartments can be a drag on the real estate market, holding Pontiac real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Pontiac Home Appreciation Rates

Pontiac's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Pontiac during the period has been just 0.20%, which is lower than 70% of US communities.

Over the last year, Pontiac appreciation rates have trailed the rest of the nation. In the last twelve months, Pontiac's appreciation rate has been 2.96%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Pontiac were at 0.43%, which equates to an annual appreciation rate of 1.73%.

Relative to Michigan, our data show that Pontiac's latest annual appreciation rate is lower than 80% 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 Pontiac differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Pontiac - 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 Pontiac real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$62,662

Pontiac, MI HOME PRICES

Value Range
> $1,168,000 0.4
$877,001 - $1,168,000 0.4
$585,001 - $877,000 0.1
$468,001 - $585,000 0.0
$350,001 - $468,000 0.8
$233,001 - $350,000 2.0
$117,001 - $233,000 15.3
$59,001 - $117,000 38.9
$0 - $59,000 42.1

Very Low for MI
Very Low for Nation

Value Relative to Nation Value Relative to State
97.9970802919708 97.9166666666667

Number Of Homes And Apartments:
23,262

Pontiac Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
2018 Q4 - 2019 Q1
Last 12 Months:
2018 Q1 - 2019 Q1
Last 2 Years:
2017 Q1 - 2019 Q1
Last 5 Years:
2014 Q1 - 2019 Q1
Last 10 Years:
2009 Q1 - 2019 Q1
Since 2000:
2000 Q1 - 2019 Q1
-20.33% -1.17%
1
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,122 / per month

Homeownership Rate

Homeownership
Owners 40.06
Renters 59.94
Vacant 14.58

Housing Market Details

 

Age of Homes

AGE OF Pontiac HOMES
2000 or Newer 9.4
1970 - 1999 21.2
1940 - 1969 47.6
1939 or Older 21.8

Types of Homes

TYPE OF Pontiac HOMES
Single-Family 63.3
Townhomes 2.2
Small Apt. Buildings 8.0
Apt. Complexes 24.9
Mobile Homes 1.6
Other 0.0

Home Size

SIZE OF Pontiac HOMES
No Bedroom 4.35
1 Bedroom 12.16
2 Bedrooms 33.58
3 Bedrooms 37.62
4 Bedrooms 9.72
5 or more bedrooms 2.57