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 17,152, 8,145 total housing units (homes and apartments), and a median house value of $423,281, Wixom real estate is some of the most expensive in Michigan, although Wixom home values aren't among America's most expensive.
Large apartment complexes or high rise apartments are the single most common housing type in Wixom, accounting for 48.70% of the city's housing units. Other types of housing that are prevalent in Wixom include single-family detached homes ( 39.38%), row houses and other attached homes ( 8.20%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.72%). This particular housing mix is relatively uncommon and characteristic of cities that are compact and walkable, and which often have a lively downtown.
People in Wixom primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Wixom has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Wixom 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 Wixom built between 2000 and later ( 14.34%). A lesser amount of the housing stock also hails from between 1940-1969 ( 10.43%). There's also some housing in Wixom built before 1939 ( 3.01%).
Appreciation rates for homes in Wixom have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 89.26%, which ranks in the top 50% nationwide. This equates to an annual average Wixom house appreciation rate of 6.59%.
Over the last year, Wixom appreciation rates have trailed the rest of the nation. In the last twelve months, Wixom's appreciation rate has been 4.06%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Wixom were at 1.70%, which equates to an annual appreciation rate of 6.96%.
Relative to Michigan, our data show that Wixom's latest annual appreciation rate is lower than 70% 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 Wixom differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Wixom - 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 Wixom real estate investment or home purchase decisions.
$423,281
for Michigan
for nation
8,145
$1,501 / per month