Ypsilanti, 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

Ypsilanti, MI Housing Market Trends

With 20,171 people, 7,743 houses or apartments, and a median cost of homes of $193,909, Ypsilanti real estate and house prices are near the national average for all cities and towns.

Large apartment complexes or high rise apartments are the single most common housing type in Ypsilanti, accounting for 42.88% of the city's housing units. Other types of housing that are prevalent in Ypsilanti include single-family detached homes ( 37.36%), duplexes, homes converted to apartments or other small apartment buildings ( 17.02%), and a few row houses and other attached homes ( 2.58%). This particular housing mix is relatively uncommon and characteristic of cities that are compact and walkable, and which often have a lively downtown.

Ypsilanti is dominated by renter-occupied one, two, or no bedrooms apartments. 72.77% of Ypsilanti's dwellings are rentals.

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. Ypsilanti's housing was primarily built during this period, from the '40s through the '60s. A full 33.46% of the city's housing hails from this era. Other housing ages represented in Ypsilanti include homes built before 1939 ( 32.12%) and housing constructed between 1970-1999 ( 27.99%). There's also some housing in Ypsilanti built between 2000 and later ( 6.43%).

Vacant housing appears to be an issue in Ypsilanti. Fully 10.14% of the housing stock is classified as vacant. Left unchecked, vacant Ypsilanti homes and apartments can be a drag on the real estate market, holding Ypsilanti real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Ypsilanti Home Appreciation Rates

In the last 10 years, Ypsilanti has experienced some of the highest home appreciation rates of any community in the nation. Ypsilanti real estate appreciated 90.70% over the last ten years, which is an average annual home appreciation rate of 6.67%, putting Ypsilanti in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Ypsilanti definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Ypsilanti appreciation rates have trailed the rest of the nation. In the last twelve months, Ypsilanti's appreciation rate has been 6.80%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Ypsilanti were at 2.15%, which equates to an annual appreciation rate of 8.89%.

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

Average Home Values

 

Median Home Value:
$193,909

Ypsilanti, MI HOME PRICES

> $1,325,000
0.0%
0.0%
$994,001 - $1,325,000
0.0%
0.0%
$662,001 - $994,000
1.3%
1.3%
$530,001 - $662,000
0.0%
0.0%
$397,001 - $530,000
4.7%
4.7%
$265,001 - $397,000
17.0%
17.0%
$132,001 - $265,000
52.2%
52.2%
$67,001 - $132,000
19.6%
19.6%
$0 - $67,000
5.2%
5.2%
0.0% 100.0%
% OF HOMES
Value Relative To State

Average for Nation

High for MI

Value Relative To Nation

Number Of Homes And Apartments:
7,743

Ypsilanti 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
42.98% 1.68%
6
2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,190 / per month

Homeownership Rate

Owners
27.2%
27.2%
Renters
72.8%
72.8%
Vacant
10.1%
10.1%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
6.4%
6.4%
1970 - 1999
28.0%
28.0%
1940 - 1969
33.5%
33.5%
1939 or Older
32.1%
32.1%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
37.4%
37.4%
Townhomes
2.6%
2.6%
Small Apt. Buildings
17.0%
17.0%
Apt. Complexes
42.9%
42.9%
Mobile Homes
0.2%
0.2%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
5.6%
5.6%
1 Bedroom
24.3%
24.3%
2 Bedrooms
31.7%
31.7%
3 Bedrooms
24.7%
24.7%
4 Bedrooms
10.3%
10.3%
5 or more bedrooms
3.5%
3.5%
0.0% 100.0%
% OF HOMES