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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 60,984, 24,548 total housing units (homes and apartments), and a median house value of $123,956, 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 60.82% of the city's housing units. Other types of housing that are prevalent in Pontiac include large apartment complexes or high rise apartments ( 24.24%), duplexes, homes converted to apartments or other small apartment buildings ( 9.30%), and a few row houses and other attached homes ( 4.09%).
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 42.21% of the city's housing hails from this era. Other housing ages represented in Pontiac include homes built between 1970-1999 ( 25.22%) and housing constructed before 1939 ( 23.28%). There's also some housing in Pontiac built between 2000 and later ( 9.28%).
Vacant housing appears to be an issue in Pontiac. Fully 10.76% 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.
Appreciation rates for homes in Pontiac have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 101.72%, which ranks in the top 30% nationwide. This equates to an annual average Pontiac house appreciation rate of 7.27%.
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 6.63%, 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 -1.04%, which equates to an annual appreciation rate of -4.11%.
Notably, Pontiac's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Michigan, our data show that Pontiac's latest annual appreciation rate is lower 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 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.
Very Low for Nation
Very Low for MI