Swartz Creek, 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 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

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

Swartz Creek, MI Housing Market Trends

With 5,501 people, 2,487 houses or apartments, and a median cost of homes of $141,764, house prices in Swartz Creek are solidly below the national average.

Single-family detached homes are the single most common housing type in Swartz Creek, accounting for 65.73% of the city's housing units. Other types of housing that are prevalent in Swartz Creek include row houses and other attached homes ( 13.37%), large apartment complexes or high rise apartments ( 12.41%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.33%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Swartz Creek. Owner-occupied housing accounts for 66.71% of Swartz Creek's homes, and 63.56% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Swartz Creek 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 Swartz Creek built between 1940-1969 ( 37.09%). A lesser amount of the housing stock also hails from between 2000 and later ( 16.15%). There's also some housing in Swartz Creek built before 1939 ( 6.55%).

Swartz Creek Home Appreciation Rates

In the last 10 years, Swartz Creek has experienced some of the highest home appreciation rates of any community in the nation. Swartz Creek real estate appreciated 53.01% over the last ten years, which is an average annual home appreciation rate of 4.35%, putting Swartz Creek in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Swartz Creek definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Swartz Creek's appreciation rate, at 6.01%, has been at or slightly above the national average. In the latest quarter, Swartz Creek's appreciation rate has been 3.29%, which annualizes to a rate of 13.80%.

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

Average Home Values

 

Median Home Value:
$141,764

Swartz Creek, MI HOME PRICES

> $1,195,000
0.0%
0.0%
$896,001 - $1,195,000
0.0%
0.0%
$597,001 - $896,000
0.0%
0.0%
$478,001 - $597,000
0.0%
0.0%
$358,001 - $478,000
1.2%
1.2%
$239,001 - $358,000
5.1%
5.1%
$119,001 - $239,000
65.6%
65.6%
$60,001 - $119,000
15.8%
15.8%
$0 - $60,000
12.4%
12.4%
0.0% 100.0%
% OF HOMES
Value Relative To State

Low for Nation

Low for MI

Value Relative To Nation

Number Of Homes And Apartments:
2,487

Swartz Creek Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
15.09% 0.67%
2
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$969 / per month

Homeownership Rate

Owners
66.7%
66.7%
Renters
33.3%
33.3%
Vacant
5.3%
5.3%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
16.1%
16.1%
1970 - 1999
40.2%
40.2%
1940 - 1969
37.1%
37.1%
1939 or Older
6.5%
6.5%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
65.7%
65.7%
Townhomes
13.4%
13.4%
Small Apt. Buildings
5.3%
5.3%
Apt. Complexes
12.4%
12.4%
Mobile Homes
3.2%
3.2%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.0%
0.0%
1 Bedroom
6.3%
6.3%
2 Bedrooms
29.8%
29.8%
3 Bedrooms
52.3%
52.3%
4 Bedrooms
11.3%
11.3%
5 or more bedrooms
0.3%
0.3%
0.0% 100.0%
% OF HOMES