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
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.
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.
|$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|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2019 Q4
|* 10 is highest|
|AGE OF Pontiac HOMES|
|2000 or Newer||10.3|
|1970 - 1999||23.0|
|1940 - 1969||44.4|
|1939 or Older||22.4|
|TYPE OF Pontiac HOMES|
|Small Apt. Buildings||7.9|
|SIZE OF Pontiac HOMES|
|5 or more bedrooms||2.25|