Ypsilanti, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Ypsilanti Neighborhoods Since 2000




Ypsilanti, 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

Ypsilanti Housing Market Information

With a population of 19,945, 7,811 total housing units (homes and apartments), and a median house value of $186,950, Ypsilanti real estate prices are well above average cost compared to national prices.

Large apartment complexes or high rise apartments are the single most common housing type in Ypsilanti, accounting for 41.42% of the city's housing units. Other types of housing that are prevalent in Ypsilanti include single-family detached homes ( 33.92%), duplexes, homes converted to apartments or other small apartment buildings ( 22.23%), and a few row houses and other attached homes ( 2.32%). Cities that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of cities are often walkable and compact, and often have a lively downtown.

Ypsilanti is dominated by renter-occupied one, two, or no bedrooms apartments. 73.58% 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 37.80% of the city's housing hails from this era. Other housing ages represented in Ypsilanti include homes built before 1939 ( 33.62%) and housing constructed between 1970-1999 ( 24.37%). There's also some housing in Ypsilanti built between 2000 and later ( 4.21%).

Vacant housing appears to be an issue in Ypsilanti. Fully 12.93% 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

Real estate appreciation rates in Ypsilanti's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.69% during the period.

Appreciation rates are so strong in Ypsilanti that despite a nationwide downturn in the housing market, Ypsilanti real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Ypsilanti appreciation rates continue to be some of the highest in America, at 9.39%, which is higher than appreciation rates in 92.04% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Ypsilanti. Ypsilanti appreciation rates in the latest quarter were at 2.57%, which equates to an annual appreciation rate of 10.67%.

Importantly, this makes Ypsilanti 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 Ypsilanti'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 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:
$186,950

Ypsilanti, MI HOME PRICES

Value Range
> $1,284,000 0.0
$963,001 - $1,284,000 0.0
$642,001 - $963,000 0.0
$513,001 - $642,000 0.8
$385,001 - $513,000 3.7
$257,001 - $385,000 12.6
$128,001 - $257,000 39.2
$64,001 - $128,000 31.1
$0 - $64,000 12.5

Very High for MI
High for Nation

Value Relative to Nation Value Relative to State
35.7201453181765 19.0705128205128

Number Of Homes And Apartments:
7,811

Ypsilanti 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
7.70% 0.43% 5 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$942 / per month

Homeownership Rate

Homeownership
Owners 26.42
Renters 73.58
Vacant 12.93

Housing Market Details

 

Age of Homes

AGE OF Ypsilanti HOMES
2000 or Newer 4.2
1970 - 1999 24.4
1940 - 1969 37.8
1939 or Older 33.6

Types of Homes

TYPE OF Ypsilanti HOMES
Single-Family 33.9
Townhomes 2.3
Small Apt. Buildings 22.2
Apt. Complexes 41.4
Mobile Homes 0.1
Other 0.0

Home Size

SIZE OF Ypsilanti HOMES
No Bedroom 5.08
1 Bedroom 28.31
2 Bedrooms 32.15
3 Bedrooms 23.11
4 Bedrooms 8.77
5 or more bedrooms 2.57