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 Q4 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

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

Pontiac Housing Market Information

With 59,772 people, 1,535 houses or apartments, and a median cost of homes of $74,870, 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 64.01% of the city's housing units. Other types of housing that are prevalent in Pontiac include large apartment complexes or high rise apartments ( 23.53%), duplexes, homes converted to apartments or other small apartment buildings ( 7.88%), and a few row houses and other attached homes ( 2.87%).

The most prevalent building size and type in Pontiac are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 41.71% owning and 58.29% renting.

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 44.41% of the city's housing hails from this era. Other housing ages represented in Pontiac include homes built between 1970-1999 ( 22.96%) and housing constructed before 1939 ( 22.38%). There's also some housing in Pontiac built between 2000 and later ( 10.25%).

Vacant housing appears to be an issue in Pontiac. Fully 13.39% 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

In the last 10 years, Pontiac has experienced some of the highest home appreciation rates of any community in the nation. Pontiac real estate appreciated 47.49% over the last ten years, which is an average annual home appreciation rate of 3.96%, putting Pontiac in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Pontiac definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

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 3.64%, 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 0.60%, which equates to an annual appreciation rate of 2.42%.

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:
$74,870

Pontiac, MI HOME PRICES

Value Range
> $1,180,000 0.6
$885,001 - $1,180,000 0.5
$590,001 - $885,000 0.2
$472,001 - $590,000 0.0
$354,001 - $472,000 1.2
$236,001 - $354,000 2.1
$118,001 - $236,000 19.0
$59,001 - $118,000 38.6
$0 - $59,000 37.8

Very Low for MI
Very Low for Nation

Value Relative to Nation Value Relative to State
95.6496350364963 96.474358974359

Number Of Homes And Apartments:
1,535

Pontiac Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
2019 Q3 - 2019 Q4
Last 12 Months:
2018 Q4 - 2019 Q4
Last 2 Years:
2017 Q4 - 2019 Q4
Last 5 Years:
2014 Q4 - 2019 Q4
Last 10 Years:
2009 Q4 - 2019 Q4
Since 2000:
2000 Q1 - 2019 Q4
-18.30% -1.01%
1
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,072 / per month

Homeownership Rate

Homeownership
Owners 41.71
Renters 58.29
Vacant 13.39

Housing Market Details

 

Age of Homes

AGE OF Pontiac HOMES
2000 or Newer 10.3
1970 - 1999 23.0
1940 - 1969 44.4
1939 or Older 22.4

Types of Homes

TYPE OF Pontiac HOMES
Single-Family 64.0
Townhomes 2.9
Small Apt. Buildings 7.9
Apt. Complexes 23.5
Mobile Homes 1.7
Other 0.0

Home Size

SIZE OF Pontiac HOMES
No Bedroom 4.27
1 Bedroom 12.01
2 Bedrooms 31.25
3 Bedrooms 39.13
4 Bedrooms 11.08
5 or more bedrooms 2.25