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 7,040 people, 2,900 houses or apartments, and a median cost of homes of $50,746, house prices in River Rouge 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 River Rouge, accounting for 62.03% of the city's housing units. Other types of housing that are prevalent in River Rouge include duplexes, homes converted to apartments or other small apartment buildings ( 22.54%), large apartment complexes or high rise apartments ( 12.42%), and a few row houses and other attached homes ( 2.36%).
The most prevalent building size and type in River Rouge are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 50.46% owning and 49.54% renting.
The housing in River Rouge was primarily built before 1939 ( 45.50%), making the housing stock in River Rouge some of the oldest overall in America, although there is a range of ages of homes in River Rouge. The next most important housing age is between 1940-1969 ( 42.14%), followed by between 1970-1999 ( 9.28%). There's also some housing in River Rouge built between 2000 and later ( 3.08%).
Vacant housing appears to be an issue in River Rouge. Fully 16.64% of the housing stock is classified as vacant. Left unchecked, vacant River Rouge homes and apartments can be a drag on the real estate market, holding River Rouge real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Some of the lowest real estate appreciation rates in America over the last ten years have been in River Rouge, where house values have increased just 55.04%, which is annualized rate of 4.48%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
Over the last year, River Rouge appreciation rates have trailed the rest of the nation. In the last twelve months, River Rouge's appreciation rate has been -1.59%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in River Rouge were at 1.69%, which equates to an annual appreciation rate of 6.95%.
Relative to Michigan, our data show that River Rouge's latest annual appreciation rate is lower than 90% of the other cities and towns in Michigan.
$50,746
for Michigan
for nation
2,900
$1,132 / per month