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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Goodrich, 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 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Goodrich, MI Housing Market Trends

With 2,002 people, 728 houses or apartments, and a median cost of homes of $305,567, Goodrich real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Goodrich, accounting for 86.35% of the village's housing units. Other types of housing that are prevalent in Goodrich include row houses and other attached homes ( 9.75%), duplexes, homes converted to apartments or other small apartment buildings ( 2.21%), and a few large apartment complexes or high rise apartments ( 1.69%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Goodrich. Owner-occupied housing accounts for 92.06% of Goodrich's homes, and 73.08% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Goodrich 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 Goodrich built between 2000 and later ( 28.22%). A lesser amount of the housing stock also hails from before 1939 ( 19.90%). There's also some housing in Goodrich built between 1940-1969 ( 11.83%).

Goodrich Home Appreciation Rates

Real estate appreciation rates in Goodrich's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.41% during the period.

Appreciation rates are so strong in Goodrich that despite a nationwide downturn in the housing market, Goodrich real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Goodrich appreciation rates continue to be some of the highest in America, at 8.76%, which is higher than appreciation rates in 78.74% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Goodrich. Goodrich appreciation rates in the latest quarter were at 2.46%, which equates to an annual appreciation rate of 10.20%.

Relative to Michigan, our data show that Goodrich's latest annual appreciation rate is higher than 80% of the other cities and towns in Michigan.

Average Home Values

Median Home Value

$305,567

Goodrich, MI Home Prices
> $1,286,000
$964,001 - $1,286,000
$643,001 - $964,000
$514,001 - $643,000
$386,001 - $514,000
$257,001 - $386,000
$129,001 - $257,000
$64,001 - $129,000
$0 - $64,000
0.6%
0.6%
0.0%
0.0%
1.0%
1.0%
6.9%
6.9%
23.1%
23.1%
35.8%
35.8%
20.3%
20.3%
8.8%
8.8%
3.6%
3.6%
0% 100.0%
% of Homes
High

for Michigan

Average

for nation

Number of Homes And Apartments:

728

Goodrich Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,584 / per month

Homeownership Rate

Owners
Renters
92.1%
92.1%
7.9%
7.9%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
5.3%
5.3%
94.7%
94.7%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
28.2%
28.2%
40.1%
40.1%
11.8%
11.8%
19.9%
19.9%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
86.3%
86.3%
9.8%
9.8%
2.2%
2.2%
1.7%
1.7%
0.0%
0.0%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.0%
0.0%
2.5%
2.5%
20.3%
20.3%
45.9%
45.9%
27.2%
27.2%
4.2%
4.2%
0% 100.0%
% of Homes

Popular Neighborhoods in Goodrich

Zip Codes in Goodrich, MI