Washington, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Washington Neighborhoods Since 2000




Washington, 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

Washington Housing Market Information

With a population of 24,706, 2,279 total housing units (homes and apartments), and a median house value of $343,024, Washington house prices are not only among the most expensive in Michigan, Washington real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Washington, accounting for 70.96% of the town's housing units. Other types of housing that are prevalent in Washington include row houses and other attached homes ( 10.96%), mobile homes or trailers ( 8.31%), and a few large apartment complexes or high rise apartments ( 6.50%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Washington. Owner-occupied housing accounts for 84.27% of Washington's homes, and 69.67% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Washington 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 Washington built between 2000 and later ( 31.17%). A lesser amount of the housing stock also hails from between 1940-1969 ( 12.65%). There's also some housing in Washington built before 1939 ( 2.69%).

Washington Home Appreciation Rates

Real estate appreciation rates in Washington's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.03% during the period.

Appreciation rates are so strong in Washington that despite a nationwide downturn in the housing market, Washington real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Washington appreciation rates continue to be some of the highest in America, at 6.69%, which is higher than appreciation rates in 79.25% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Washington. Washington appreciation rates in the latest quarter were at 1.86%, which equates to an annual appreciation rate of 7.66%.

Importantly, this makes Washington one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.

Relative to Michigan, our data show that Washington's latest annual appreciation rate is higher than 60% of the other cities and towns in Michigan.

Average Home Values

 

Median Home Value:
$343,024

Washington, MI HOME PRICES

Value Range
> $1,242,000 0.2
$932,001 - $1,242,000 1.0
$621,001 - $932,000 5.9
$497,001 - $621,000 9.7
$373,001 - $497,000 15.3
$248,001 - $373,000 29.2
$124,001 - $248,000 23.6
$62,001 - $124,000 5.9
$0 - $62,000 9.3

Very High for MI
Very High for Nation

Value Relative to Nation Value Relative to State
12.6860424235322 3.36538461538462

Number Of Homes And Apartments:
2,279

Washington 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
7.88% 0.44% 5 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,183 / per month

Homeownership Rate

Homeownership
Owners 84.27
Renters 15.73
Vacant 6.69

Housing Market Details

 

Age of Homes

AGE OF Washington HOMES
2000 or Newer 31.2
1970 - 1999 53.5
1940 - 1969 12.6
1939 or Older 2.7

Types of Homes

TYPE OF Washington HOMES
Single-Family 71.0
Townhomes 11.0
Small Apt. Buildings 3.3
Apt. Complexes 6.5
Mobile Homes 8.3
Other 0.0

Home Size

SIZE OF Washington HOMES
No Bedroom 0.00
1 Bedroom 3.08
2 Bedrooms 23.52
3 Bedrooms 42.11
4 Bedrooms 27.56
5 or more bedrooms 3.73