Wixom, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Wixom Neighborhoods Since 2000




Wixom, 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

Wixom Housing Market Information

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%).

Wixom Home Appreciation Rates

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.

Average Home Values

 

Median Home Value:
$230,624

Wixom, MI HOME PRICES

Value Range
> $1,259,000 0.0
$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

Very High for MI
High for Nation

Value Relative to Nation Value Relative to State
25.7119418727294 9.77564102564103

Number Of Homes And Apartments:
6,153

Wixom 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
8.35% 0.47% 5 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$814 / per month

Homeownership Rate

Homeownership
Owners 50.68
Renters 49.32
Vacant 5.90

Housing Market Details

 

Age of Homes

AGE OF Wixom HOMES
2000 or Newer 11.3
1970 - 1999 73.6
1940 - 1969 14.4
1939 or Older 0.8

Types of Homes

TYPE OF Wixom HOMES
Single-Family 43.4
Townhomes 7.2
Small Apt. Buildings 2.8
Apt. Complexes 46.6
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Wixom HOMES
No Bedroom 0.44
1 Bedroom 30.11
2 Bedrooms 27.27
3 Bedrooms 23.67
4 Bedrooms 17.14
5 or more bedrooms 1.36