Rochester Hills, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Rochester Hills Neighborhoods Since 2000




Rochester Hills, 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

Rochester Hills Housing Market Information

With 73,424 people, 28,046 houses or apartments, and a median cost of homes of $268,937, 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 66.88% of the city's housing units. Other types of housing that are prevalent in Rochester Hills include large apartment complexes or high rise apartments ( 16.81%), row houses and other attached homes ( 8.65%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.26%).

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 73.88% of Rochester Hills's homes, and 65.80% 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 ( 18.55%). A lesser amount of the housing stock also hails from between 2000 and later ( 10.15%). There's also some housing in Rochester Hills built before 1939 ( 2.37%).

Rochester Hills Home Appreciation Rates

Appreciation rates for homes in Rochester Hills have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 4.78%, which ranks in the top 40% nationwide. This equates to an annual average Rochester Hills house appreciation rate of 0.47%.

NeighborhoodScout's data show that during the latest twelve months, Rochester Hills's appreciation rate, at 5.22%, has been at or slightly above the national average. In the latest quarter, Rochester Hills's appreciation rate has been 1.86%, which annualizes to a rate of 7.66%.

Importantly, this makes Rochester Hills 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 Rochester Hills's latest annual appreciation rate is lower 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:
$268,937

Rochester Hills, MI HOME PRICES

Value Range
> $1,246,000 0.9
$934,001 - $1,246,000 0.5
$623,001 - $934,000 3.2
$499,001 - $623,000 5.7
$374,001 - $499,000 17.2
$249,001 - $374,000 30.4
$125,001 - $249,000 28.4
$62,001 - $125,000 6.7
$0 - $62,000 7.0

Very High for MI
Very High for Nation

Value Relative to Nation Value Relative to State
19.916793624751 6.89102564102564

Number Of Homes And Apartments:
28,046

Rochester Hills 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
12.33% 0.68% 6 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,607 / per month

Homeownership Rate

Homeownership
Owners 73.88
Renters 26.12
Vacant 5.33

Housing Market Details

 

Age of Homes

AGE OF Rochester Hills HOMES
2000 or Newer 10.2
1970 - 1999 68.9
1940 - 1969 18.5
1939 or Older 2.4

Types of Homes

TYPE OF Rochester Hills HOMES
Single-Family 66.9
Townhomes 8.6
Small Apt. Buildings 4.3
Apt. Complexes 16.8
Mobile Homes 3.4
Other 0.0

Home Size

SIZE OF Rochester Hills HOMES
No Bedroom 0.88
1 Bedroom 7.86
2 Bedrooms 22.32
3 Bedrooms 35.23
4 Bedrooms 30.57
5 or more bedrooms 3.14