Michigan
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest





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 Q1 2018. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2016 (latest available). Updated annually.

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

Average Home Values

Median Home Value:
$151,865

Number Of Homes And Apartments:
3,860,394

Michigan Home Prices

Value Range
> $1,231,407 0.5
$923,471 - $1,231,407 0.5
$615,797 - $923,470 1.8
$492,682 - $615,796 2.2
$369,381 - $492,681 5.4
$246,352 - $369,380 13.6
$123,126 - $246,351 34.0
$61,570 - $123,125 24.2
$0 - $61,569 17.8

Michigan Appreciation Rates

 
Time Period Total Appreciation Average Annual Rate Compared to America*
Latest Quarter:
2017 Q4 - 2018 Q1
0.97% 3.93%
4
Last 12 Months:
2017 Q1 - 2018 Q1
6.67% 6.67%
7
Last 2 Years:
2016 Q1 - 2018 Q1
14.10% 6.82%
8
Last 5 Years:
2013 Q1 - 2018 Q1
37.00% 6.50%
8
Last 10 Years:
2008 Q1 - 2018 Q1
11.42% 1.09%
6
Since 2000:
2000 Q1 - 2018 Q1
28.51% 1.40%
1
* 10 is highest


Rent & Homeownership

Average Market Rent:
$1,054 / per month

Homeownership Rate

Homeownership
Owners 69.13
Renters 30.87
Vacant 15.06

Housing Details

Age of Homes

AGE OF Michigan HOMES
2000 or Newer 11.2
1970 - 1999 38.4
1940 - 1969 35.2
1939 or Older 15.1

Types of Homes

TYPE OF Michigan HOMES
Single-Family 72.1
Townhomes 4.7
Small Apt. Buildings 5.0
Apt. Complexes 12.8
Mobile Homes 5.3
Other 0.0

Home Size

SIZE OF Michigan HOMES
No Bedroom 1.45
1 Bedroom 9.10
2 Bedrooms 25.94
3 Bedrooms 43.89
4 Bedrooms 16.07
5 or more bedrooms 3.54