Wyandotte, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Wyandotte Neighborhoods Since 2000




Wyandotte, 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

Wyandotte Housing Market Information

With a population of 25,156, 10,625 total housing units (homes and apartments), and a median house value of $108,983, house prices in Wyandotte are solidly below the national average.

Single-family detached homes are the single most common housing type in Wyandotte, accounting for 77.32% of the city's housing units. Other types of housing that are prevalent in Wyandotte include large apartment complexes or high rise apartments ( 11.02%), duplexes, homes converted to apartments or other small apartment buildings ( 8.61%), and a few row houses and other attached homes ( 2.75%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Wyandotte. Owner-occupied housing accounts for 72.87% of Wyandotte's homes, and 58.92% 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. Wyandotte's housing was primarily built during this period, from the '40s through the '60s. A full 55.84% of the city's housing hails from this era. Other housing ages represented in Wyandotte include homes built before 1939 ( 30.37%) and housing constructed between 1970-1999 ( 9.71%). There's also some housing in Wyandotte built between 2000 and later ( 4.09%).

Wyandotte Home Appreciation Rates

Homes have actually lost value in Wyandotte over the last then years, as home values have seen a decline of 19.35% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Wyandotte home appreciation rates at 1.86%, which equates to an annual appreciation rate of 7.66%.

Appreciation rates are so strong in Wyandotte that despite a nationwide downturn in the housing market, Wyandotte real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Wyandotte appreciation rates continue to be some of the highest in America, at 8.81%, which is higher than appreciation rates in 90.08% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Wyandotte. Wyandotte appreciation rates in the latest quarter were at 1.86%, which equates to an annual appreciation rate of 7.66%.

Importantly, this makes Wyandotte 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 Wyandotte's latest annual appreciation rate is higher than 80% 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 Wyandotte differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Wyandotte - 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 Wyandotte real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$108,983

Wyandotte, MI HOME PRICES

Value Range
> $1,251,000 0.1
$938,001 - $1,251,000 0.0
$625,001 - $938,000 0.5
$500,001 - $625,000 0.3
$375,001 - $500,000 1.0
$250,001 - $375,000 3.7
$125,001 - $250,000 30.6
$62,001 - $125,000 48.9
$0 - $62,000 14.8

Low for MI
Low for Nation

Value Relative to Nation Value Relative to State
71.9705847884683 68.1891025641026

Number Of Homes And Apartments:
10,625

Wyandotte 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
-14.70% -0.92% 1 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,081 / per month

Homeownership Rate

Homeownership
Owners 72.87
Renters 27.13
Vacant 9.57

Housing Market Details

 

Age of Homes

AGE OF Wyandotte HOMES
2000 or Newer 4.1
1970 - 1999 9.7
1940 - 1969 55.8
1939 or Older 30.4

Types of Homes

TYPE OF Wyandotte HOMES
Single-Family 77.3
Townhomes 2.7
Small Apt. Buildings 8.6
Apt. Complexes 11.0
Mobile Homes 0.3
Other 0.0

Home Size

SIZE OF Wyandotte HOMES
No Bedroom 2.41
1 Bedroom 10.51
2 Bedrooms 25.72
3 Bedrooms 48.71
4 Bedrooms 10.20
5 or more bedrooms 2.44