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 7,584, 3,618 total housing units (homes and apartments), and a median house value of $358,117, Whitmore Lake real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Whitmore Lake, accounting for 63.66% of the town's housing units. Other types of housing that are prevalent in Whitmore Lake include mobile homes or trailers ( 18.92%), large apartment complexes or high rise apartments ( 14.06%), and a few row houses and other attached homes ( 2.28%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Whitmore Lake. Owner-occupied housing accounts for 69.33% of Whitmore Lake's homes, and 66.08% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Whitmore Lake 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 Whitmore Lake built between 2000 and later ( 21.47%). A lesser amount of the housing stock also hails from between 1940-1969 ( 18.28%). There's also some housing in Whitmore Lake built before 1939 ( 9.58%).
Appreciation rates for homes in Whitmore Lake have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 90.33%, which ranks in the top 50% nationwide. This equates to an annual average Whitmore Lake house appreciation rate of 6.65%.
NeighborhoodScout's data show that during the latest twelve months, Whitmore Lake's appreciation rate, at 6.94%, has been at or slightly above the national average. In the latest quarter, Whitmore Lake's appreciation rate has been 1.56%, which annualizes to a rate of 6.41%.
Relative to Michigan, our data show that Whitmore Lake's latest annual appreciation rate is higher than 50% of the other cities and towns in Michigan.
$358,117
for Michigan
for nation
3,618
$1,947 / per month