Wyandotte, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Wyandotte, MI Real Estate Data


Wyandotte Housing Market Information

With 25,156 people, 10,611 houses or apartments, and a median cost of homes of $109,768, 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 77.99% of the city's housing units. Other types of housing that are prevalent in Wyandotte include large apartment complexes or high rise apartments ( 10.89%), duplexes, homes converted to apartments or other small apartment buildings ( 8.35%), and a few row houses and other attached homes ( 2.70%).

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 73.39% of Wyandotte's homes, and 60.53% 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 56.93% of the city's housing hails from this era. Other housing ages represented in Wyandotte include homes built before 1939 ( 29.91%) and housing constructed between 1970-1999 ( 9.96%). There's also some housing in Wyandotte built between 2000 and later ( 3.21%).

Wyandotte Home Appreciation Rates

Homes have actually lost value in Wyandotte over the last then years, as home values have seen a decline of 23.70% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Wyandotte home appreciation rates at 1.97%, which equates to an annual appreciation rate of 8.12%.

NeighborhoodScout's data show that during the latest twelve months, Wyandotte's appreciation rate, at 5.36%, has been at or slightly above the national average. In the latest quarter, Wyandotte's appreciation rate has been 1.97%, which annualizes to a rate of 8.12%.

Relative to Michigan, our data show that Wyandotte's latest annual appreciation rate is higher than 60% 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:
$109,768

Wyandotte, MI HOME PRICES

Value Range
> $1,247,000 0.0
$935,001 - $1,247,000 0.0
$623,001 - $935,000 0.4
$499,001 - $623,000 0.3
$374,001 - $499,000 0.4
$249,001 - $374,000 4.1
$125,001 - $249,000 32.2
$62,001 - $125,000 47.8
$0 - $62,000 14.9

Low for MI
Low for Nation

Value Relative to Nation Value Relative to State
72.6005738712889 68.5897435897436

Number Of Homes And Apartments:
10,611

Rent & Ownership

 

Average Market Rent:
$1,016 / per month

Homeownership Rate

Homeownership
Owners 73.39
Renters 26.61
Vacant 8.60

Housing Market Details

 

Age of Homes

AGE OF Wyandotte HOMES
2000 or Newer 3.2
1970 - 1999 10.0
1940 - 1969 56.9
1939 or Older 29.9

Types of Homes

TYPE OF Wyandotte HOMES
Single-Family 78.0
Townhomes 2.7
Small Apt. Buildings 8.3
Apt. Complexes 10.9
Mobile Homes 0.1
Other 0.0

Home Size

SIZE OF Wyandotte HOMES
No Bedroom 2.83
1 Bedroom 9.54
2 Bedrooms 24.37
3 Bedrooms 49.97
4 Bedrooms 10.55
5 or more bedrooms 2.73

Wyandotte 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
-18.31% -1.18% 1 1
* 10 is highest