Wyoming, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Wyoming Neighborhoods Since 2000




Wyoming, 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

Wyoming Housing Market Information

With 75,275 people, 27,602 houses or apartments, and a median cost of homes of $130,780, 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 66.19% of the city's housing units. Other types of housing that are prevalent in Wyoming include large apartment complexes or high rise apartments ( 22.61%), duplexes, homes converted to apartments or other small apartment buildings ( 5.82%), and a few row houses and other attached homes ( 3.34%).

The most prevalent building size and type in Wyoming are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 64.10% owning and 35.90% renting.

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 43.57% of the city's housing hails from this era. Other housing ages represented in Wyoming include homes built between 1970-1999 ( 37.79%) and housing constructed before 1939 ( 9.88%). There's also some housing in Wyoming built between 2000 and later ( 8.76%).

Wyoming Home Appreciation Rates

Appreciation rates for homes in Wyoming have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 4.45%, which ranks in the top 50% nationwide. This equates to an annual average Wyoming house appreciation rate of 0.44%.

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 11.47%, which is higher than appreciation rates in 96.68% 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 3.68%, which equates to an annual appreciation rate of 15.57%.

Importantly, NeighborhoodScout’s exclusive research found that Wyoming's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which may signal the city’s near-future real estate investment strength.

Relative to Michigan, our data show that Wyoming's latest annual appreciation rate is higher than 90% 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:
$130,780

Wyoming, MI HOME PRICES

Value Range
> $1,334,000 0.2
$1,001,001 - $1,334,000 0.0
$667,001 - $1,001,000 0.0
$534,001 - $667,000 0.1
$400,001 - $534,000 1.2
$267,001 - $400,000 7.6
$133,001 - $267,000 38.6
$67,001 - $133,000 43.6
$0 - $67,000 8.6

Average for MI
Average for Nation

Value Relative to Nation Value Relative to State
59.4339622641509 48.8782051282051

Number Of Homes And Apartments:
27,602

Wyoming 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
20.10% 1.07% 8 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,004 / per month

Homeownership Rate

Homeownership
Owners 64.10
Renters 35.90
Vacant 4.46

Housing Market Details

 

Age of Homes

AGE OF Wyoming HOMES
2000 or Newer 8.8
1970 - 1999 37.8
1940 - 1969 43.6
1939 or Older 9.9

Types of Homes

TYPE OF Wyoming HOMES
Single-Family 66.2
Townhomes 3.3
Small Apt. Buildings 5.8
Apt. Complexes 22.6
Mobile Homes 2.0
Other 0.0

Home Size

SIZE OF Wyoming HOMES
No Bedroom 2.01
1 Bedroom 12.74
2 Bedrooms 28.82
3 Bedrooms 38.11
4 Bedrooms 15.46
5 or more bedrooms 2.86