Westland, MI Real Estate Market

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 Q4 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Westland, MI Housing Market Trends

With a population of 81,511, 35,183 total housing units (homes and apartments), and a median house value of $162,079, house prices in Westland are solidly below the national average.

Single-family detached homes are the single most common housing type in Westland, accounting for 58.03% of the city's housing units. Other types of housing that are prevalent in Westland include large apartment complexes or high rise apartments ( 26.95%), row houses and other attached homes ( 6.56%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.03%).

The most prevalent building size and type in Westland are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 59.33% owning and 40.67% renting.

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. Westland's housing was primarily built during this period, from the '40s through the '60s. A full 52.00% of the city's housing hails from this era. Other housing ages represented in Westland include homes built between 1970-1999 ( 40.25%) and housing constructed between 2000 and later ( 5.04%). There's also some housing in Westland built before 1939 ( 2.72%).

Westland Home Appreciation Rates

In the last 10 years, Westland has experienced some of the highest home appreciation rates of any community in the nation. Westland real estate appreciated 74.01% over the last ten years, which is an average annual home appreciation rate of 5.70%, putting Westland in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Westland definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Westland's appreciation rate, at 5.51%, has been at or slightly above the national average. In the latest quarter, Westland's appreciation rate has been 2.48%, which annualizes to a rate of 10.30%.

Relative to Michigan, our data show that Westland's latest annual appreciation rate is lower 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 city. Individual neighborhoods within Westland differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Westland - 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 Westland real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$162,079

Westland, MI HOME PRICES

> $1,223,000
0.2%
0.2%
$917,001 - $1,223,000
0.2%
0.2%
$611,001 - $917,000
0.3%
0.3%
$489,001 - $611,000
0.6%
0.6%
$367,001 - $489,000
1.9%
1.9%
$244,001 - $367,000
8.0%
8.0%
$122,001 - $244,000
52.0%
52.0%
$61,001 - $122,000
25.4%
25.4%
$0 - $61,000
11.4%
11.4%
0.0% 100.0%
% OF HOMES
Value Relative To State

Average for Nation

Average for MI

Value Relative To Nation

Number Of Homes And Apartments:
35,183

Westland Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
12.27% 0.55%
2
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,278 / per month

Homeownership Rate

Owners
59.3%
59.3%
Renters
40.7%
40.7%
Vacant
6.3%
6.3%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
5.0%
5.0%
1970 - 1999
40.2%
40.2%
1940 - 1969
52.0%
52.0%
1939 or Older
2.7%
2.7%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
58.0%
58.0%
Townhomes
6.6%
6.6%
Small Apt. Buildings
6.0%
6.0%
Apt. Complexes
27.0%
27.0%
Mobile Homes
2.4%
2.4%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.7%
1.7%
1 Bedroom
13.6%
13.6%
2 Bedrooms
30.1%
30.1%
3 Bedrooms
45.8%
45.8%
4 Bedrooms
7.9%
7.9%
5 or more bedrooms
1.0%
1.0%
0.0% 100.0%
% OF HOMES