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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Whitmore Lake, MI Real Estate Market

Source & Methodology

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

Whitmore Lake, MI Housing Market Trends

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%).

Whitmore Lake Home Appreciation Rates

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.

Average Home Values

Median Home Value

$358,117

Whitmore Lake, MI Home Prices
> $1,374,000
$1,031,001 - $1,374,000
$687,001 - $1,031,000
$550,001 - $687,000
$412,001 - $550,000
$275,001 - $412,000
$137,001 - $275,000
$69,001 - $137,000
$0 - $69,000
0.0%
0.0%
0.7%
0.7%
4.9%
4.9%
11.9%
11.9%
16.2%
16.2%
30.0%
30.0%
19.7%
19.7%
8.6%
8.6%
8.1%
8.1%
0% 100.0%
% of Homes
Very High

for Michigan

High

for nation

Number of Homes And Apartments:

3,618

Whitmore Lake Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,947 / per month

Homeownership Rate

Owners
Renters
69.3%
69.3%
30.7%
30.7%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
2.9%
2.9%
97.1%
97.1%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
21.5%
21.5%
50.7%
50.7%
18.3%
18.3%
9.6%
9.6%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
63.7%
63.7%
2.3%
2.3%
1.1%
1.1%
14.1%
14.1%
18.9%
18.9%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.3%
0.3%
3.1%
3.1%
28.4%
28.4%
45.1%
45.1%
21.0%
21.0%
2.1%
2.1%
0% 100.0%
% of Homes

Popular Neighborhoods in Whitmore Lake

Zip Codes in Whitmore Lake, MI