Rochester Hills, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Rochester Hills, MI Real Estate Data


Rochester Hills Housing Market Information

With 73,424 people, 27,790 houses or apartments, and a median cost of homes of $277,091, Rochester Hills real estate is some of the most expensive in Michigan, although Rochester Hills home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Rochester Hills, accounting for 67.57% of the city's housing units. Other types of housing that are prevalent in Rochester Hills include large apartment complexes or high rise apartments ( 16.49%), row houses and other attached homes ( 7.77%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.76%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Rochester Hills. Owner-occupied housing accounts for 74.47% of Rochester Hills's homes, and 66.49% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Rochester Hills built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Rochester Hills built between 1940-1969 ( 19.87%). A lesser amount of the housing stock also hails from between 2000 and later ( 9.91%). There's also some housing in Rochester Hills built before 1939 ( 2.58%).

Rochester Hills Home Appreciation Rates

Real estate appreciation rates in Rochester Hills's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 0.17% during the period.

NeighborhoodScout's data show that during the latest twelve months, Rochester Hills's appreciation rate, at 5.05%, has been at or slightly above the national average. In the latest quarter, Rochester Hills's appreciation rate has been 1.97%, which annualizes to a rate of 8.12%.

Relative to Michigan, our data show that Rochester Hills's latest annual appreciation rate is higher than 50% of the other cities and towns in Michigan.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Rochester Hills differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Rochester Hills - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Rochester Hills real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$277,091

Rochester Hills, MI HOME PRICES

Value Range
> $1,324,000 0.9
$993,001 - $1,324,000 0.4
$662,001 - $993,000 2.9
$530,001 - $662,000 3.3
$397,001 - $530,000 15.9
$265,001 - $397,000 30.4
$132,001 - $265,000 32.2
$66,001 - $132,000 7.0
$0 - $66,000 7.0

Very High for MI
Very High for Nation

Value Relative to Nation Value Relative to State
19.3418047666452 5.92948717948718

Number Of Homes And Apartments:
27,790

Rent & Ownership

 

Average Market Rent:
$1,605 / per month

Homeownership Rate

Homeownership
Owners 74.47
Renters 25.53
Vacant 5.20

Housing Market Details

 

Age of Homes

AGE OF Rochester Hills HOMES
2000 or Newer 9.9
1970 - 1999 67.6
1940 - 1969 19.9
1939 or Older 2.6

Types of Homes

TYPE OF Rochester Hills HOMES
Single-Family 67.6
Townhomes 7.8
Small Apt. Buildings 4.8
Apt. Complexes 16.5
Mobile Homes 3.4
Other 0.0

Home Size

SIZE OF Rochester Hills HOMES
No Bedroom 0.80
1 Bedroom 7.51
2 Bedrooms 22.38
3 Bedrooms 34.99
4 Bedrooms 31.50
5 or more bedrooms 2.82

Rochester Hills Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
12.38% 0.69% 7 1
* 10 is highest