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 Q4 2017. 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:
$150,042

Number Of Homes And Apartments:
3,860,394

Michigan Home Prices

Value Range
> $1,223,000 0.3
$917,001 - $1,223,000 0.6
$612,001 - $917,000 2.0
$489,001 - $612,000 2.4
$367,001 - $489,000 6.0
$245,001 - $367,000 14.8
$122,001 - $245,000 35.3
$61,001 - $122,000 23.1
$0 - $61,000 15.2

Michigan Appreciation Rates

 
Time Period Total Appreciation Average Annual Rate Compared to America*
Latest Quarter:
2017 Q3 - 2017 Q4
0.32% 1.29%
3
Last 12 Months:
2016 Q4 - 2017 Q4
7.43% 7.43%
8
Last 2 Years:
2015 Q4 - 2017 Q4
13.91% 6.73%
8
Last 5 Years:
2012 Q4 - 2017 Q4
37.27% 6.54%
8
Last 10 Years:
2007 Q4 - 2017 Q4
10.07% 0.96%
6
Since 2000:
2000 Q1 - 2017 Q4
27.35% 1.37%
1
* 10 is highest


Rent & Homeownership

Average Market Rent:
$1,035 / 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