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 1,092, 438 total housing units (homes and apartments), and a median house value of $228,501, house prices in Concord are solidly below the national average.
Single-family detached homes are the single most common housing type in Concord, accounting for 80.96% of the village's housing units. Other types of housing that are prevalent in Concord include duplexes, homes converted to apartments or other small apartment buildings ( 10.04%), mobile homes or trailers ( 6.90%), and a few large apartment complexes or high rise apartments ( 2.09%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Concord. Owner-occupied housing accounts for 73.97% of Concord's homes, and 60.67% have either three or four bedrooms, which is average sized relative to America.
The housing in Concord was primarily built before 1939 ( 38.08%), making the housing stock in Concord some of the oldest overall in America, although there is a range of ages of homes in Concord. The next most important housing age is between 1970-1999 ( 29.92%), followed by between 1940-1969 ( 25.73%). There's also some housing in Concord built between 2000 and later ( 6.28%).
Appreciation rates for homes in Concord have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 92.78%, which ranks in the top 50% nationwide. This equates to an annual average Concord house appreciation rate of 6.78%.
Over the last year, Concord appreciation rates have trailed the rest of the nation. In the last twelve months, Concord's appreciation rate has been 3.31%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Concord were at 3.84%, which equates to an annual appreciation rate of 16.27%.
Importantly, this makes Concord one of the highest appreciating communities in the nation for the latest quarter, and may signal the village's near-future real estate investment strength.
Relative to Michigan, our data show that Concord's latest annual appreciation rate is lower than 80% of the other cities and towns in Michigan.
$228,501
for Michigan
for nation
438
$1,381 / per month