Warren, 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
Warren, MI Housing Market Trends
With a population of 137,107, 54,483 total housing units (homes and apartments), and a median house value of $231,657, house prices in Warren are solidly below the national average.
Single-family detached homes are the single most common housing type in Warren, accounting for 75.56% of the city's housing units. Other types of housing that are prevalent in Warren include large apartment complexes or high rise apartments ( 10.49%), row houses and other attached homes ( 7.53%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.33%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Warren. Owner-occupied housing accounts for 70.45% of Warren's homes, and 66.78% 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. Warren's housing was primarily built during this period, from the '40s through the '60s. A full 64.66% of the city's housing hails from this era. Other housing ages represented in Warren include homes built between 1970-1999 ( 26.92%) and housing constructed between 2000 and later ( 5.16%). There's also some housing in Warren built before 1939 ( 3.27%).
Warren Home Appreciation Rates
In the last 10 years, Warren has experienced some of the highest home appreciation rates of any community in the nation. Warren real estate appreciated 141.41% over the last ten years, which is an average annual home appreciation rate of 9.21%, putting Warren in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Warren definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Over the last year, Warren appreciation rates have trailed the rest of the nation. In the last twelve months, Warren's appreciation rate has been 4.98%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Warren were at 1.70%, which equates to an annual appreciation rate of 6.96%.
Relative to Michigan, our data show that Warren's latest annual appreciation rate is lower than 60% 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 Warren differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Warren - 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 Warren real estate investment or home purchase decisions.
Median Home Value
$231,657
Average
for Michigan
Low
for nation
Number of Homes And Apartments:
54,483
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:
$1,823 / per month