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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Rockwood, MI Real Estate Market

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 Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Rockwood, MI Housing Market Trends

With a population of 3,184, 1,244 total housing units (homes and apartments), and a median house value of $217,821, house prices in Rockwood are solidly below the national average.

Single-family detached homes are the single most common housing type in Rockwood, accounting for 75.22% of the city's housing units. Other types of housing that are prevalent in Rockwood include large apartment complexes or high rise apartments ( 16.92%), mobile homes or trailers ( 4.42%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.77%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Rockwood. Owner-occupied housing accounts for 80.00% of Rockwood's homes, and 66.02% have either three or four bedrooms, which is average sized relative to America.

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. Rockwood's housing was primarily built during this period, from the '40s through the '60s. A full 48.35% of the city's housing hails from this era. Other housing ages represented in Rockwood include homes built between 1970-1999 ( 36.45%) and housing constructed before 1939 ( 9.51%). There's also some housing in Rockwood built between 2000 and later ( 5.69%).

Rockwood Home Appreciation Rates

Real estate appreciation rates in Rockwood's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.98% during the period.

Over the last year, Rockwood appreciation rates have trailed the rest of the nation. In the last twelve months, Rockwood's appreciation rate has been 4.71%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Rockwood were at -0.26%, which equates to an annual appreciation rate of -1.02%.

Relative to Michigan, our data show that Rockwood's latest annual appreciation rate is lower than 70% of the other cities and towns in Michigan.

Average Home Values

Median Home Value

$217,821

Rockwood, MI Home Prices
> $1,212,000
$909,001 - $1,212,000
$606,001 - $909,000
$485,001 - $606,000
$364,001 - $485,000
$243,001 - $364,000
$122,001 - $243,000
$60,001 - $122,000
$0 - $60,000
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
1.7%
1.7%
16.1%
16.1%
15.4%
15.4%
56.6%
56.6%
4.9%
4.9%
5.4%
5.4%
0% 100.0%
% of Homes
Average

for Michigan

Low

for nation

Number of Homes And Apartments:

1,244

Rockwood Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,550 / per month

Homeownership Rate

Owners
Renters
80.0%
80.0%
20.0%
20.0%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
6.9%
6.9%
93.1%
93.1%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
5.7%
5.7%
36.5%
36.5%
48.4%
48.4%
9.5%
9.5%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
75.2%
75.2%
0.7%
0.7%
2.8%
2.8%
16.9%
16.9%
4.4%
4.4%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
2.3%
2.3%
5.8%
5.8%
20.7%
20.7%
54.8%
54.8%
11.2%
11.2%
5.1%
5.1%
0% 100.0%
% of Homes