Riverview, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Riverview Neighborhoods Since 2000




Riverview, MI Real Estate 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

Riverview Housing Market Information

With a population of 12,181, 4,930 total housing units (homes and apartments), and a median house value of $182,317, Riverview real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Riverview, accounting for 59.21% of the city's housing units. Other types of housing that are prevalent in Riverview include large apartment complexes or high rise apartments ( 28.68%), row houses and other attached homes ( 7.67%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.69%).

The most prevalent building size and type in Riverview are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 59.84% owning and 40.16% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Riverview's housing was primarily built during this period, from the '40s through the '60s. A full 48.20% of the city's housing hails from this era. Other housing ages represented in Riverview include homes built between 1970-1999 ( 45.20%) and housing constructed before 1939 ( 4.16%). There's also some housing in Riverview built between 2000 and later ( 2.44%).

Riverview Home Appreciation Rates

Riverview's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Riverview during the period has been just -1.33%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Riverview's appreciation rate, at 4.51%, has been at or slightly above the national average. In the latest quarter, Riverview's appreciation rate has been 1.86%, which annualizes to a rate of 7.66%.

Importantly, this makes Riverview one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Michigan, our data show that Riverview's latest annual appreciation rate is lower than 60% of the other cities and towns in Michigan.

Average Home Values

 

Median Home Value:
$182,317

Riverview, MI HOME PRICES

Value Range
> $1,243,000 0.0
$932,001 - $1,243,000 0.0
$622,001 - $932,000 0.3
$497,001 - $622,000 0.0
$373,001 - $497,000 2.4
$249,001 - $373,000 6.2
$124,001 - $249,000 57.9
$62,001 - $124,000 25.8
$0 - $62,000 7.5

High for MI
High for Nation

Value Relative to Nation Value Relative to State
37.3842728231572 20.9935897435897

Number Of Homes And Apartments:
4,930

Riverview Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
-4.87% -0.29% 2 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$824 / per month

Homeownership Rate

Homeownership
Owners 59.84
Renters 40.16
Vacant 6.81

Housing Market Details

 

Age of Homes

AGE OF Riverview HOMES
2000 or Newer 2.4
1970 - 1999 45.2
1940 - 1969 48.2
1939 or Older 4.2

Types of Homes

TYPE OF Riverview HOMES
Single-Family 59.2
Townhomes 7.7
Small Apt. Buildings 3.7
Apt. Complexes 28.7
Mobile Homes 0.6
Other 0.2

Home Size

SIZE OF Riverview HOMES
No Bedroom 2.72
1 Bedroom 13.31
2 Bedrooms 21.83
3 Bedrooms 43.31
4 Bedrooms 16.09
5 or more bedrooms 2.74