Woodhaven, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Woodhaven Neighborhoods Since 2000




Woodhaven, 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

Woodhaven Housing Market Information

With 12,539 people, 5,163 houses or apartments, and a median cost of homes of $165,632, Woodhaven real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Woodhaven, accounting for 62.18% of the city's housing units. Other types of housing that are prevalent in Woodhaven include large apartment complexes or high rise apartments ( 24.64%), row houses and other attached homes ( 6.81%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.22%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Woodhaven. Owner-occupied housing accounts for 69.78% of Woodhaven's homes, and 62.53% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Woodhaven 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 Woodhaven built between 2000 and later ( 18.89%). A lesser amount of the housing stock also hails from between 1940-1969 ( 14.36%).

Woodhaven Home Appreciation Rates

Woodhaven's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Woodhaven during the period has been just -1.35%, which is lower than 80% of US communities.

Appreciation rates are so strong in Woodhaven that despite a nationwide downturn in the housing market, Woodhaven real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Woodhaven appreciation rates continue to be some of the highest in America, at 7.39%, which is higher than appreciation rates in 83.49% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Woodhaven. Woodhaven appreciation rates in the latest quarter were at 1.86%, which equates to an annual appreciation rate of 7.66%.

Importantly, this makes Woodhaven 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 Woodhaven's latest annual appreciation rate is higher than 70% of the other cities and towns in Michigan.

Average Home Values

 

Median Home Value:
$165,632

Woodhaven, MI HOME PRICES

Value Range
> $1,249,000 0.0
$936,001 - $1,249,000 0.0
$624,001 - $936,000 0.0
$499,001 - $624,000 0.0
$375,001 - $499,000 1.6
$250,001 - $375,000 10.0
$125,001 - $250,000 60.8
$62,001 - $125,000 18.6
$0 - $62,000 9.0

High for MI
Average for Nation

Value Relative to Nation Value Relative to State
43.3845072073128 27.724358974359

Number Of Homes And Apartments:
5,163

Woodhaven 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
-8.42% -0.51% 2 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$917 / per month

Homeownership Rate

Homeownership
Owners 69.78
Renters 30.22
Vacant 6.04

Housing Market Details

 

Age of Homes

AGE OF Woodhaven HOMES
2000 or Newer 18.9
1970 - 1999 66.4
1940 - 1969 14.4
1939 or Older 0.3

Types of Homes

TYPE OF Woodhaven HOMES
Single-Family 62.2
Townhomes 6.8
Small Apt. Buildings 3.2
Apt. Complexes 24.6
Mobile Homes 3.1
Other 0.0

Home Size

SIZE OF Woodhaven HOMES
No Bedroom 1.97
1 Bedroom 12.67
2 Bedrooms 21.38
3 Bedrooms 43.82
4 Bedrooms 18.71
5 or more bedrooms 1.46