Waterford MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Waterford, 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 Q2 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Waterford Housing Market Information

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%).

Waterford Home Appreciation Rates

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.

Average Home Values

 

Median Home Value:
$81,695

Waterford, MI HOME PRICES

Value Range
> $1,151,000 0.0
$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

Very Low for MI
Very Low for Nation

Value Relative to Nation Value Relative to State
93.8715328467153 95.3525641025641

Number Of Homes And Apartments:
1,656

Waterford Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
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
Since 2000:
2000 Q1 - 2020 Q2
133.13% 4.22%
10
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$782 / per month

Homeownership Rate

Homeownership
Owners 71.54
Renters 28.46
Vacant 6.90

Housing Market Details

 

Age of Homes

AGE OF Waterford HOMES
2000 or Newer 7.6
1970 - 1999 42.0
1940 - 1969 42.4
1939 or Older 7.9

Types of Homes

TYPE OF Waterford HOMES
Single-Family 74.8
Townhomes 5.4
Small Apt. Buildings 3.2
Apt. Complexes 16.0
Mobile Homes 0.6
Other 0.0

Home Size

SIZE OF Waterford HOMES
No Bedroom 0.79
1 Bedroom 8.62
2 Bedrooms 26.27
3 Bedrooms 48.72
4 Bedrooms 13.89
5 or more bedrooms 1.71