Wolverine Lake, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Wolverine Lake Neighborhoods Since 2000




Wolverine Lake, MI Real Estate Data


Wolverine Lake Housing Market Information

With a population of 4,383, 1,764 total housing units (homes and apartments), and a median house value of $234,106, Wolverine Lake real estate is some of the most expensive in Michigan, although Wolverine Lake home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Wolverine Lake, accounting for 83.32% of the village's housing units. Other types of housing that are prevalent in Wolverine Lake include large apartment complexes or high rise apartments ( 9.79%), row houses and other attached homes ( 5.03%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.87%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Wolverine Lake. Owner-occupied housing accounts for 82.09% of Wolverine Lake's homes, and 74.06% have either three or four bedrooms, which is average sized relative to America.

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. Wolverine Lake's housing was primarily built during this period, from the '40s through the '60s. A full 42.62% of the village's housing hails from this era. Other housing ages represented in Wolverine Lake include homes built between 1970-1999 ( 41.07%) and housing constructed before 1939 ( 8.61%). There's also some housing in Wolverine Lake built between 2000 and later ( 7.70%).

Wolverine Lake Home Appreciation Rates

Real estate appreciation rates in Wolverine Lake's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.47% during the period.

Appreciation rates are so strong in Wolverine Lake that despite a nationwide downturn in the housing market, Wolverine Lake real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Wolverine Lake appreciation rates continue to be some of the highest in America, at 6.17%, which is higher than appreciation rates in 76.46% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Wolverine Lake. Wolverine Lake appreciation rates in the latest quarter were at 1.97%, which equates to an annual appreciation rate of 8.12%.

Relative to Michigan, our data show that Wolverine Lake's latest annual appreciation rate is higher than 80% of the other cities and towns in Michigan.

Average Home Values

 

Median Home Value:
$234,106

Wolverine Lake, MI HOME PRICES

Value Range
> $1,350,000 0.8
$1,012,001 - $1,350,000 0.0
$675,001 - $1,012,000 3.1
$539,001 - $675,000 3.5
$404,001 - $539,000 5.1
$270,001 - $404,000 22.6
$135,001 - $270,000 48.3
$68,001 - $135,000 13.4
$0 - $68,000 3.1

Very High for MI
High for Nation

Value Relative to Nation Value Relative to State
25.7832171927153 9.61538461538461

Number Of Homes And Apartments:
1,764

Rent & Ownership

 

Average Market Rent:
$1,227 / per month

Homeownership Rate

Homeownership
Owners 82.09
Renters 17.91
Vacant 5.67

Housing Market Details

 

Age of Homes

AGE OF Wolverine Lake HOMES
2000 or Newer 7.7
1970 - 1999 41.1
1940 - 1969 42.6
1939 or Older 8.6

Types of Homes

TYPE OF Wolverine Lake HOMES
Single-Family 83.3
Townhomes 5.0
Small Apt. Buildings 1.9
Apt. Complexes 9.8
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Wolverine Lake HOMES
No Bedroom 0.75
1 Bedroom 4.92
2 Bedrooms 18.29
3 Bedrooms 60.21
4 Bedrooms 13.85
5 or more bedrooms 1.98

Wolverine Lake Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
6.80% 0.39% 5 1
* 10 is highest