Michigan
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Top Ten Highest Appreciating MI Cities Since 2000




Michigan Real Estate Values & Housing Market 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 Q3 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

Average Home Values

Median Home Value:
$150,501

Number Of Homes And Apartments:
3,843,363

Michigan Home Prices

Value Range
> $1,287,000 0.5
$965,001 - $1,287,000 0.5
$644,001 - $965,000 1.6
$515,001 - $644,000 1.9
$386,001 - $515,000 4.8
$257,001 - $386,000 13.0
$129,001 - $257,000 34.2
$64,001 - $129,000 25.4
$0 - $64,000 18.1

Michigan Appreciation Rates

 
Time Period Total Appreciation Average Annual Rate Compared to America*
Latest Quarter:
2017 Q2 - 2017 Q3
2.16% 8.93% 9
Last 12 Months:
2016 Q3 - 2017 Q3
7.96% 7.96% 9
Last 2 Years:
2015 Q3 - 2017 Q3
14.14% 6.84% 8
Last 5 Years:
2012 Q3 - 2017 Q3
38.80% 6.78% 8
Last 10 Years:
2007 Q3 - 2017 Q3
9.50% 0.91% 6
Since 2000:
2000 Q1 - 2017 Q3
27.11% 1.38% 1
* 10 is highest

Rent & Homeownership

Average Market Rent:
$1,075 / per month

Homeownership Rate

Homeownership
Owners 69.41
Renters 30.59
Vacant 15.39

Housing Details

Age of Homes

AGE OF Michigan HOMES
2000 or Newer 11.0
1970 - 1999 38.3
1940 - 1969 35.5
1939 or Older 15.2

Types of Homes

TYPE OF Michigan HOMES
Single-Family 72.1
Townhomes 4.7
Small Apt. Buildings 5.1
Apt. Complexes 12.8
Mobile Homes 5.4
Other 0.0

Home Size

SIZE OF Michigan HOMES
No Bedroom 1.41
1 Bedroom 9.10
2 Bedrooms 26.14
3 Bedrooms 43.93
4 Bedrooms 15.94
5 or more bedrooms 3.47