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 a population of 7,584, 3,618 total housing units (homes and apartments), and a median house value of $323,034, Whitmore Lake real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Whitmore Lake, accounting for 63.66% of the town's housing units. Other types of housing that are prevalent in Whitmore Lake include mobile homes or trailers ( 18.92%), large apartment complexes or high rise apartments ( 14.06%), and a few row houses and other attached homes ( 2.28%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Whitmore Lake. Owner-occupied housing accounts for 69.33% of Whitmore Lake's homes, and 66.08% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Whitmore Lake built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Whitmore Lake built between 2000 and later ( 21.47%). A lesser amount of the housing stock also hails from between 1940-1969 ( 18.28%). There's also some housing in Whitmore Lake built before 1939 ( 9.58%).
Real estate appreciation rates in Whitmore Lake's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.80% during the period.
Over the last year, Whitmore Lake appreciation rates have trailed the rest of the nation. In the last twelve months, Whitmore Lake's appreciation rate has been 3.09%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Whitmore Lake were at -0.87%, which equates to an annual appreciation rate of -3.45%.
Notably, Whitmore Lake's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Michigan, our data show that Whitmore Lake's latest annual appreciation rate is lower than 90% of the other cities and towns in Michigan.
$323,034
for Michigan
for nation
3,618
$1,861 / per month