Utica, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Utica Neighborhoods Since 2000




Utica, 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

Utica Housing Market Information

With 4,942 people, 2,191 houses or apartments, and a median cost of homes of $147,262, Utica real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Utica, accounting for 41.24% of the city's housing units. Other types of housing that are prevalent in Utica include row houses and other attached homes ( 27.59%), large apartment complexes or high rise apartments ( 26.65%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.52%).

People in Utica primarily live in small (one, two or no bedroom) single-family detached homes. Utica has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Utica 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 Utica built between 1940-1969 ( 34.37%). A lesser amount of the housing stock also hails from between 2000 and later ( 17.27%). There's also some housing in Utica built before 1939 ( 8.32%).

Utica Home Appreciation Rates

Utica's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Utica during the period has been just -1.58%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Utica's appreciation rate, at 5.15%, has been at or slightly above the national average. In the latest quarter, Utica's appreciation rate has been 1.86%, which annualizes to a rate of 7.66%.

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

Average Home Values

 

Median Home Value:
$147,262

Utica, MI HOME PRICES

Value Range
> $1,242,000 0.0
$931,001 - $1,242,000 0.0
$621,001 - $931,000 0.0
$497,001 - $621,000 0.0
$373,001 - $497,000 0.5
$249,001 - $373,000 5.8
$124,001 - $249,000 53.1
$62,001 - $124,000 21.0
$0 - $62,000 19.5

High for MI
Average for Nation

Value Relative to Nation Value Relative to State
51.1836399859369 38.7820512820513

Number Of Homes And Apartments:
2,191

Utica 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
-8.67% -0.52% 2 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$940 / per month

Homeownership Rate

Homeownership
Owners 52.36
Renters 47.64
Vacant 6.57

Housing Market Details

 

Age of Homes

AGE OF Utica HOMES
2000 or Newer 17.3
1970 - 1999 40.0
1940 - 1969 34.4
1939 or Older 8.3

Types of Homes

TYPE OF Utica HOMES
Single-Family 41.2
Townhomes 27.6
Small Apt. Buildings 4.5
Apt. Complexes 26.7
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Utica HOMES
No Bedroom 2.77
1 Bedroom 17.53
2 Bedrooms 33.13
3 Bedrooms 33.82
4 Bedrooms 10.53
5 or more bedrooms 2.22