Wyoming, MI Real Estate Market

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 Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Wyoming, MI Housing Market Trends

With a population of 75,667, 27,773 total housing units (homes and apartments), and a median house value of $168,517, house prices in Wyoming are solidly below the national average.

Single-family detached homes are the single most common housing type in Wyoming, accounting for 65.54% of the city's housing units. Other types of housing that are prevalent in Wyoming include large apartment complexes or high rise apartments ( 23.13%), duplexes, homes converted to apartments or other small apartment buildings ( 4.30%), and a few row houses and other attached homes ( 3.90%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Wyoming. Owner-occupied housing accounts for 65.25% of Wyoming's homes, and 54.07% 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. Wyoming's housing was primarily built during this period, from the '40s through the '60s. A full 40.73% of the city's housing hails from this era. Other housing ages represented in Wyoming include homes built between 1970-1999 ( 40.00%) and housing constructed before 1939 ( 10.36%). There's also some housing in Wyoming built between 2000 and later ( 8.91%).

Wyoming Home Appreciation Rates

In the last 10 years, Wyoming has experienced some of the highest home appreciation rates of any community in the nation. Wyoming real estate appreciated 109.31% over the last ten years, which is an average annual home appreciation rate of 7.67%, putting Wyoming in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Wyoming definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Wyoming that despite a nationwide downturn in the housing market, Wyoming real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Wyoming appreciation rates continue to be some of the highest in America, at 11.34%, which is higher than appreciation rates in 79.25% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Wyoming. Wyoming appreciation rates in the latest quarter were at 3.31%, which equates to an annual appreciation rate of 13.89%.

Relative to Michigan, our data show that Wyoming'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 Wyoming differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Wyoming - 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 Wyoming real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$168,517

Wyoming, MI HOME PRICES

> $1,384,000
0.2%
0.2%
$1,039,001 - $1,384,000
0.0%
0.0%
$692,001 - $1,039,000
0.1%
0.1%
$554,001 - $692,000
0.8%
0.8%
$415,001 - $554,000
2.0%
2.0%
$277,001 - $415,000
13.7%
13.7%
$138,001 - $277,000
53.9%
53.9%
$69,001 - $138,000
24.0%
24.0%
$0 - $69,000
5.3%
5.3%
0.0% 100.0%
% OF HOMES
Value Relative To State

Average for Nation

Average for MI

Value Relative To Nation

Number Of Homes And Apartments:
27,773

Wyoming Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
75.17% 2.64%
9
5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,190 / per month

Homeownership Rate

Owners
65.3%
65.3%
Renters
34.7%
34.7%
Vacant
4.7%
4.7%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
8.9%
8.9%
1970 - 1999
40.0%
40.0%
1940 - 1969
40.7%
40.7%
1939 or Older
10.4%
10.4%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
65.5%
65.5%
Townhomes
3.9%
3.9%
Small Apt. Buildings
4.3%
4.3%
Apt. Complexes
23.1%
23.1%
Mobile Homes
3.1%
3.1%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
2.4%
2.4%
1 Bedroom
10.4%
10.4%
2 Bedrooms
29.4%
29.4%
3 Bedrooms
38.7%
38.7%
4 Bedrooms
15.4%
15.4%
5 or more bedrooms
3.8%
3.8%
0.0% 100.0%
% OF HOMES