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 27,073, 7,297 total housing units (homes and apartments), and a median house value of $374,681, Allendale real estate is some of the most expensive in Michigan, although Allendale home values aren't among America's most expensive.
Single-family detached homes are the single most common housing type in Allendale, accounting for 44.88% of the town's housing units. Other types of housing that are prevalent in Allendale include large apartment complexes or high rise apartments ( 29.14%), row houses and other attached homes ( 12.38%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 9.55%).
The most prevalent building size and type in Allendale are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 40.50% owning and 59.50% renting.
Allendale homes and real estate are some of the newest in America. 53.01% of Allendale's housing was built since 2000, making the town have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Allendale real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 33.05%), and between 1940-1969 ( 9.81%). There's also some housing in Allendale built before 1939 ( 4.13%).
Appreciation rates for homes in Allendale have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 114.97%, which ranks in the top 30% nationwide. This equates to an annual average Allendale house appreciation rate of 7.95%.
NeighborhoodScout's data show that during the latest twelve months, Allendale's appreciation rate, at 6.25%, has been at or slightly above the national average. In the latest quarter, Allendale's appreciation rate has been 3.40%, which annualizes to a rate of 14.32%.
Importantly, this makes Allendale one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.
Relative to Michigan, our data show that Allendale's latest annual appreciation rate is lower than 50% 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 town. Individual neighborhoods within Allendale differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Allendale - 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 Allendale real estate investment or home purchase decisions.
$374,681
for Michigan
for nation
7,297
$1,940 / per month