White Lake, 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 Q2 2021. 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

White Lake, MI Housing Market Trends

With a population of 31,372, 1,660 total housing units (homes and apartments), and a median house value of $171,748, house prices in White Lake are solidly below the national average.

Single-family detached homes are the single most common housing type in White Lake, accounting for 80.51% of the town's housing units. Other types of housing that are prevalent in White Lake include mobile homes or trailers ( 11.83%), row houses and other attached homes ( 2.98%), and a few large apartment complexes or high rise apartments ( 2.96%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in White Lake. Owner-occupied housing accounts for 88.73% of White Lake's homes, and 78.79% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in White Lake 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 White Lake built between 1940-1969 ( 21.47%). A lesser amount of the housing stock also hails from between 2000 and later ( 18.51%). There's also some housing in White Lake built before 1939 ( 7.43%).

White Lake Home Appreciation Rates

In the last 10 years, White Lake has experienced some of the highest home appreciation rates of any community in the nation. White Lake real estate appreciated 80.84% over the last ten years, which is an average annual home appreciation rate of 6.10%, putting White Lake in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, White Lake 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, White Lake's appreciation rate, at 10.12%, has been at or slightly above the national average. In the latest quarter, White Lake's appreciation rate has been 2.66%, which annualizes to a rate of 11.05%.

Relative to Michigan, our data show that White Lake's latest annual appreciation rate is higher than 50% 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 White Lake differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in White Lake - 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 White Lake real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$171,748

White Lake, MI HOME PRICES

> $1,322,000
2.4%
2.4%
$991,001 - $1,322,000
0.0%
0.0%
$661,001 - $991,000
3.4%
3.4%
$529,001 - $661,000
0.0%
0.0%
$397,001 - $529,000
1.2%
1.2%
$264,001 - $397,000
13.4%
13.4%
$132,001 - $264,000
28.4%
28.4%
$66,001 - $132,000
34.4%
34.4%
$0 - $66,000
16.8%
16.8%
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:
1,660

White Lake Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
143.33% 4.22%
10
9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,158 / per month

Homeownership Rate

Owners
88.7%
88.7%
Renters
11.3%
11.3%
Vacant
5.4%
5.4%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
18.5%
18.5%
1970 - 1999
52.6%
52.6%
1940 - 1969
21.5%
21.5%
1939 or Older
7.4%
7.4%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
80.5%
80.5%
Townhomes
3.0%
3.0%
Small Apt. Buildings
1.7%
1.7%
Apt. Complexes
3.0%
3.0%
Mobile Homes
11.8%
11.8%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.4%
0.4%
1 Bedroom
3.0%
3.0%
2 Bedrooms
14.5%
14.5%
3 Bedrooms
53.4%
53.4%
4 Bedrooms
25.4%
25.4%
5 or more bedrooms
3.3%
3.3%
0.0% 100.0%
% OF HOMES