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 16,137, 6,481 total housing units (homes and apartments), and a median house value of $448,989, Grosse Pointe Woods real estate is some of the most expensive in Michigan, although Grosse Pointe Woods home values aren't among America's most expensive.
Single-family detached homes are the single most common housing type in Grosse Pointe Woods, accounting for 92.24% of the city's housing units. Other types of housing that are prevalent in Grosse Pointe Woods include large apartment complexes or high rise apartments ( 4.56%), duplexes, homes converted to apartments or other small apartment buildings ( 2.03%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Grosse Pointe Woods. Owner-occupied housing accounts for 88.76% of Grosse Pointe Woods's homes, and 80.94% 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. Grosse Pointe Woods's housing was primarily built during this period, from the '40s through the '60s. A full 78.65% of the city's housing hails from this era. Other housing ages represented in Grosse Pointe Woods include homes built before 1939 ( 11.30%) and housing constructed between 1970-1999 ( 5.38%). There's also some housing in Grosse Pointe Woods built between 2000 and later ( 4.66%).
Real estate appreciation rates in Grosse Pointe Woods's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.16% during the period.
Over the last year, Grosse Pointe Woods appreciation rates have trailed the rest of the nation. In the last twelve months, Grosse Pointe Woods's appreciation rate has been 4.61%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Grosse Pointe Woods were at 1.70%, which equates to an annual appreciation rate of 6.96%.
Relative to Michigan, our data show that Grosse Pointe Woods's latest annual appreciation rate is lower than 70% of the other cities and towns in Michigan.
$448,989
for Michigan
for nation
6,481
$2,738 / per month