Lincoln Park, MI Real Estate Market
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
Lincoln Park, MI Housing Market Trends
With 39,371 people, 15,189 houses or apartments, and a median cost of homes of $155,734, house prices in Lincoln Park are some of the most affordable in Michigan as well as the nation.
Single-family detached homes are the single most common housing type in Lincoln Park, accounting for 84.80% of the city's housing units. Other types of housing that are prevalent in Lincoln Park include large apartment complexes or high rise apartments ( 8.80%), duplexes, homes converted to apartments or other small apartment buildings ( 4.61%), and a few row houses and other attached homes ( 1.25%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Lincoln Park. Owner-occupied housing accounts for 70.54% of Lincoln Park's homes, and 63.73% 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. Lincoln Park's housing was primarily built during this period, from the '40s through the '60s. A full 74.21% of the city's housing hails from this era. Other housing ages represented in Lincoln Park include homes built before 1939 ( 13.34%) and housing constructed between 1970-1999 ( 10.51%). There's also some housing in Lincoln Park built between 2000 and later ( 1.94%).
Lincoln Park Home Appreciation Rates
In the last 10 years, Lincoln Park has experienced some of the highest home appreciation rates of any community in the nation. Lincoln Park real estate appreciated 167.50% over the last ten years, which is an average annual home appreciation rate of 10.34%, putting Lincoln Park in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Lincoln Park definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
NeighborhoodScout's data show that during the latest twelve months, Lincoln Park's appreciation rate, at 6.44%, has been at or slightly above the national average. In the latest quarter, Lincoln Park's appreciation rate has been 1.70%, which annualizes to a rate of 6.96%.
Relative to Michigan, our data show that Lincoln Park's latest annual appreciation rate is higher 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 city. Individual neighborhoods within Lincoln Park differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Lincoln Park - 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 Lincoln Park real estate investment or home purchase decisions.
Median Home Value
$155,734
Very Low
for Michigan
Very Low
for nation
Number of Homes And Apartments:
15,189
MI
America
2024 Q1 - 2024 Q2
2023 Q2 - 2024 Q2
2022 Q2 - 2024 Q2
2019 Q2 - 2024 Q2
2014 Q2 - 2024 Q2
2000 Q1 - 2024 Q2
Average Market Rent:
$1,525 / per month