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 Q2 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:
$147,233

Number Of Homes And Apartments:
3,841,148

Michigan Home Prices

Value Range
> $1,254,000 0.5
$941,001 - $1,254,000 0.5
$627,001 - $941,000 1.6
$502,001 - $627,000 1.9
$376,001 - $502,000 4.8
$251,001 - $376,000 13.0
$125,001 - $251,000 34.2
$63,001 - $125,000 25.4
$0 - $63,000 18.1

Michigan Appreciation Rates

 
Time Period Total Appreciation Average Annual Rate Compared to America*
Latest Quarter:
2017 Q1 - 2017 Q2
2.75% 11.47% 6
Last 12 Months:
2016 Q2 - 2017 Q2
7.55% 7.55% 8
Last 2 Years:
2015 Q2 - 2017 Q2
13.70% 6.63% 8
Last 5 Years:
2012 Q2 - 2017 Q2
38.31% 6.70% 8
Last 10 Years:
2007 Q2 - 2017 Q2
3.66% 0.36% 5
Since 2000:
2000 Q1 - 2017 Q2
24.29% 1.27% 1
* 10 is highest

Rent & Homeownership

Average Market Rent:
$1,044 / 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