Michigan
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



Map Loading GIF Please wait, loading your map...

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 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

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

Average Home Values

Median Home Value:
$161,401

Number Of Homes And Apartments:
3,888,646

Michigan Home Prices

Value Range
> $1,236,601 0.6
$927,432 - $1,236,601 0.6
$618,370 - $927,431 2.0
$494,651 - $618,369 2.5
$370,993 - $494,650 6.1
$247,333 - $370,992 14.6
$123,629 - $247,332 34.1
$61,908 - $123,628 22.8
$0 - $61,907 16.7

Michigan Appreciation Rates

 
Time Period Total Appreciation Average Annual Rate Compared to America*
Latest Quarter:
2018 Q4 - 2019 Q1
1.15% 4.68%
7
Last 12 Months:
2018 Q1 - 2019 Q1
6.90% 6.90%
8
Last 2 Years:
2017 Q1 - 2019 Q1
14.45% 6.98%
8
Last 5 Years:
2014 Q1 - 2019 Q1
37.39% 6.56%
8
Last 10 Years:
2009 Q1 - 2019 Q1
27.95% 2.50%
7
Since 2000:
2000 Q1 - 2019 Q1
37.18% 1.68%
1
* 10 is highest

Rent & Homeownership

Average Market Rent:
$1,092 / per month

Homeownership Rate

Homeownership
Owners 69.34
Renters 30.66
Vacant 14.88

Housing Details

Age of Homes

AGE OF Michigan HOMES
2000 or Newer 11.5
1970 - 1999 38.5
1940 - 1969 34.9
1939 or Older 15.1

Types of Homes

TYPE OF Michigan HOMES
Single-Family 72.3
Townhomes 4.6
Small Apt. Buildings 4.9
Apt. Complexes 12.8
Mobile Homes 5.3
Other 0.0

Home Size

SIZE OF Michigan HOMES
No Bedroom 1.48
1 Bedroom 9.06
2 Bedrooms 25.70
3 Bedrooms 43.88
4 Bedrooms 16.31
5 or more bedrooms 3.57