Saline, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Saline Neighborhoods Since 2000




Saline, 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

Saline Housing Market Information

With 9,100 people, 3,831 houses or apartments, and a median cost of homes of $241,265, Saline real estate is some of the most expensive in Michigan, although Saline home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Saline, accounting for 60.33% of the city's housing units. Other types of housing that are prevalent in Saline include large apartment complexes or high rise apartments ( 22.02%), row houses and other attached homes ( 11.17%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.95%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Saline. Owner-occupied housing accounts for 72.86% of Saline's homes, and 55.81% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Saline 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 Saline built between 1940-1969 ( 31.32%). A lesser amount of the housing stock also hails from between 2000 and later ( 16.31%). There's also some housing in Saline built before 1939 ( 5.05%).

Saline Home Appreciation Rates

Appreciation rates for homes in Saline have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 7.50%, which ranks in the top 40% nationwide. This equates to an annual average Saline house appreciation rate of 0.73%.

Appreciation rates are so strong in Saline that despite a nationwide downturn in the housing market, Saline real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Saline appreciation rates continue to be some of the highest in America, at 5.91%, which is higher than appreciation rates in 73.27% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Saline. Saline appreciation rates in the latest quarter were at 2.57%, which equates to an annual appreciation rate of 10.67%.

Importantly, this makes Saline 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 Saline'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 Saline differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Saline - 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 Saline real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$241,265

Saline, MI HOME PRICES

Value Range
> $1,233,000 0.0
$925,001 - $1,233,000 0.0
$616,001 - $925,000 0.0
$493,001 - $616,000 1.6
$370,001 - $493,000 8.3
$247,001 - $370,000 39.2
$124,001 - $247,000 35.3
$62,001 - $124,000 7.7
$0 - $62,000 7.9

Very High for MI
High for Nation

Value Relative to Nation Value Relative to State
23.9247626860424 8.49358974358974

Number Of Homes And Apartments:
3,831

Saline 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
19.30% 1.03% 8 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$851 / per month

Homeownership Rate

Homeownership
Owners 72.86
Renters 27.14
Vacant 6.99

Housing Market Details

 

Age of Homes

AGE OF Saline HOMES
2000 or Newer 16.3
1970 - 1999 47.3
1940 - 1969 31.3
1939 or Older 5.0

Types of Homes

TYPE OF Saline HOMES
Single-Family 60.3
Townhomes 11.2
Small Apt. Buildings 5.0
Apt. Complexes 22.0
Mobile Homes 1.5
Other 0.0

Home Size

SIZE OF Saline HOMES
No Bedroom 0.00
1 Bedroom 9.98
2 Bedrooms 32.51
3 Bedrooms 32.12
4 Bedrooms 23.70
5 or more bedrooms 1.70