Wayland, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Wayland Neighborhoods Since 2000




Wayland, 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

Wayland Housing Market Information

With a population of 4,166, 1,434 total housing units (homes and apartments), and a median house value of $150,150, Wayland 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 Wayland, accounting for 46.36% of the city's housing units. Other types of housing that are prevalent in Wayland include large apartment complexes or high rise apartments ( 25.94%), mobile homes or trailers ( 13.72%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 10.90%).

The most prevalent building size and type in Wayland are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 56.49% owning and 43.51% renting.

There is a lot of housing in Wayland 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 Wayland built between 2000 and later ( 18.45%). A lesser amount of the housing stock also hails from between 1940-1969 ( 16.74%). There's also some housing in Wayland built before 1939 ( 16.28%).

Wayland Home Appreciation Rates

Real estate appreciation rates in Wayland's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 0.02% during the period.

Appreciation rates are so strong in Wayland that despite a nationwide downturn in the housing market, Wayland real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Wayland appreciation rates continue to be some of the highest in America, at 6.25%, which is higher than appreciation rates in 76.19% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Wayland. Wayland appreciation rates in the latest quarter were at 0.00%, which equates to an annual appreciation rate of 0.00%.

Relative to Michigan, our data show that Wayland's latest annual appreciation rate is higher than 50% of the other cities and towns in Michigan.

Average Home Values

 

Median Home Value:
$150,150

Wayland, MI HOME PRICES

Value Range
> $1,204,000 1.9
$903,001 - $1,204,000 0.5
$602,001 - $903,000 1.2
$482,001 - $602,000 1.7
$361,001 - $482,000 2.0
$241,001 - $361,000 11.8
$121,001 - $241,000 43.8
$60,001 - $121,000 24.1
$0 - $60,000 12.9

High for MI
Average for Nation

Value Relative to Nation Value Relative to State
49.947263564983 37.5

Number Of Homes And Apartments:
1,434

Wayland 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
17.28% 0.93% 7 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$922 / per month

Homeownership Rate

Homeownership
Owners 56.49
Renters 43.51
Vacant 5.84

Housing Market Details

 

Age of Homes

AGE OF Wayland HOMES
2000 or Newer 18.5
1970 - 1999 48.5
1940 - 1969 16.7
1939 or Older 16.3

Types of Homes

TYPE OF Wayland HOMES
Single-Family 46.4
Townhomes 3.1
Small Apt. Buildings 10.9
Apt. Complexes 25.9
Mobile Homes 13.7
Other 0.0

Home Size

SIZE OF Wayland HOMES
No Bedroom 0.72
1 Bedroom 9.65
2 Bedrooms 30.01
3 Bedrooms 35.78
4 Bedrooms 20.03
5 or more bedrooms 3.81