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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 3,184 people, 1,244 houses or apartments, and a median cost of homes of $231,313, house prices in Rockwood are solidly below the national average.
Single-family detached homes are the single most common housing type in Rockwood, accounting for 75.22% of the city's housing units. Other types of housing that are prevalent in Rockwood include large apartment complexes or high rise apartments ( 16.92%), mobile homes or trailers ( 4.42%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.77%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Rockwood. Owner-occupied housing accounts for 80.00% of Rockwood's homes, and 66.02% 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. Rockwood's housing was primarily built during this period, from the '40s through the '60s. A full 48.35% of the city's housing hails from this era. Other housing ages represented in Rockwood include homes built between 1970-1999 ( 36.45%) and housing constructed before 1939 ( 9.51%). There's also some housing in Rockwood built between 2000 and later ( 5.69%).
Appreciation rates for homes in Rockwood have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 90.18%, which ranks in the top 50% nationwide. This equates to an annual average Rockwood house appreciation rate of 6.64%.
NeighborhoodScout's data show that during the latest twelve months, Rockwood's appreciation rate, at 11.46%, has been at or slightly above the national average. In the latest quarter, Rockwood's appreciation rate has been 2.11%, which annualizes to a rate of 8.72%.
Relative to Michigan, our data show that Rockwood's latest annual appreciation rate is lower than 50% of the other cities and towns in Michigan.
$231,313
for Michigan
for nation
1,244
$1,567 / per month