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 13,746 people, 6,153 houses or apartments, and a median cost of homes of $230,624, Wixom real estate is some of the most expensive in Michigan, although Wixom home values aren't among America's most expensive.
Large apartment complexes or high rise apartments are the single most common housing type in Wixom, accounting for 46.55% of the city's housing units. Other types of housing that are prevalent in Wixom include single-family detached homes ( 43.43%), row houses and other attached homes ( 7.20%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.81%). This particular housing mix is relatively uncommon and characteristic of cities that are compact and walkable, and which often have a lively downtown.
People in Wixom primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Wixom has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Wixom 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 Wixom built between 1940-1969 ( 14.41%). A lesser amount of the housing stock also hails from between 2000 and later ( 11.27%).
Real estate appreciation rates in Wixom's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.08% during the period.
Appreciation rates are so strong in Wixom that despite a nationwide downturn in the housing market, Wixom real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Wixom appreciation rates continue to be some of the highest in America, at 8.39%, which is higher than appreciation rates in 88.46% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Wixom. Wixom appreciation rates in the latest quarter were at 1.86%, which equates to an annual appreciation rate of 7.66%.
Importantly, this makes Wixom one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Michigan, our data show that Wixom'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 city. Individual neighborhoods within Wixom differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Wixom - 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 Wixom real estate investment or home purchase decisions.
|$945,001 - $1,259,000||0.0|
|$630,001 - $945,000||0.1|
|$504,001 - $630,000||0.4|
|$378,001 - $504,000||6.7|
|$252,001 - $378,000||27.1|
|$126,001 - $252,000||30.2|
|$63,001 - $126,000||12.7|
|$0 - $63,000||22.8|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Wixom HOMES|
|2000 or Newer||11.3|
|1970 - 1999||73.6|
|1940 - 1969||14.4|
|1939 or Older||0.8|
|TYPE OF Wixom HOMES|
|Small Apt. Buildings||2.8|
|SIZE OF Wixom HOMES|
|5 or more bedrooms||1.36|