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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With a population of 73,257, 1,656 total housing units (homes and apartments), and a median house value of $81,695, house prices in Waterford are some of the most affordable in Michigan as well as the nation.
Single-family detached homes are the single most common housing type in Waterford, accounting for 74.77% of the town's housing units. Other types of housing that are prevalent in Waterford include large apartment complexes or high rise apartments ( 15.99%), row houses and other attached homes ( 5.42%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.19%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Waterford. Owner-occupied housing accounts for 71.54% of Waterford's homes, and 62.61% 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. Waterford's housing was primarily built during this period, from the '40s through the '60s. A full 42.44% of the town's housing hails from this era. Other housing ages represented in Waterford include homes built between 1970-1999 ( 42.03%) and housing constructed before 1939 ( 7.89%). There's also some housing in Waterford built between 2000 and later ( 7.64%).
Real estate appreciation rates in Waterford's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 2.36% during the period.
NeighborhoodScout's data show that during the latest twelve months, Waterford's appreciation rate, at 4.79%, has been at or slightly above the national average. In the latest quarter, Waterford's appreciation rate has been 1.65%, which annualizes to a rate of 6.78%.
Importantly, this makes Waterford 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 Waterford's latest annual appreciation rate is higher than 70% 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 town. Individual neighborhoods within Waterford differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Waterford - 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 Waterford real estate investment or home purchase decisions.
|$863,001 - $1,151,000||3.4|
|$575,001 - $863,000||0.0|
|$460,001 - $575,000||1.3|
|$345,001 - $460,000||4.4|
|$230,001 - $345,000||7.0|
|$115,001 - $230,000||14.7|
|$57,001 - $115,000||32.4|
|$0 - $57,000||36.8|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2020 Q1 - 2020 Q2
Last 12 Months:
2019 Q2 - 2020 Q2
Last 2 Years:
2018 Q2 - 2020 Q2
Last 5 Years:
2015 Q2 - 2020 Q2
Last 10 Years:
2010 Q2 - 2020 Q2
2000 Q1 - 2020 Q2
|* 10 is highest|
|AGE OF Waterford HOMES|
|2000 or Newer||7.6|
|1970 - 1999||42.0|
|1940 - 1969||42.4|
|1939 or Older||7.9|
|TYPE OF Waterford HOMES|
|Small Apt. Buildings||3.2|
|SIZE OF Waterford HOMES|
|5 or more bedrooms||1.71|