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 Q1 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:
$142,477

Number Of Homes And Apartments:
3,841,148

Michigan Home Prices

Value Range
> $1,218,000 0.5
$913,001 - $1,218,000 0.5
$609,001 - $913,000 1.6
$487,001 - $609,000 1.9
$365,001 - $487,000 4.8
$244,001 - $365,000 13.0
$122,001 - $244,000 34.2
$61,001 - $122,000 25.4
$0 - $61,000 18.1

Michigan Appreciation Rates

 
Time Period Total Appreciation Average Annual Rate Compared to America*
Latest Quarter:
2016 Q4 - 2017 Q1
1.57% 6.45% 9
Last 12 Months:
2016 Q1 - 2017 Q1
6.68% 6.68% 8
Last 2 Years:
2015 Q1 - 2017 Q1
13.11% 6.35% 8
Last 5 Years:
2012 Q1 - 2017 Q1
33.97% 6.02% 8
Last 10 Years:
2007 Q1 - 2017 Q1
-0.92% -0.09% 4
Since 2000:
2000 Q1 - 2017 Q1
20.97% 1.13% 1
* 10 is highest

Rent & Homeownership

Average Market Rent:
$1,014 / 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