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 11,358 people, 4,594 houses or apartments, and a median cost of homes of $612,429, Grosse Pointe Park house prices are not only among the most expensive in Michigan, Grosse Pointe Park real estate also is some of the most expensive in all of America.
Single-family detached homes are the single most common housing type in Grosse Pointe Park, accounting for 75.65% of the city's housing units. Other types of housing that are prevalent in Grosse Pointe Park include duplexes, homes converted to apartments or other small apartment buildings ( 19.61%), row houses and other attached homes ( 3.05%), and a few large apartment complexes or high rise apartments ( 1.38%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Grosse Pointe Park. Owner-occupied housing accounts for 76.54% of Grosse Pointe Park's homes, and 65.04% have either three or four bedrooms, which is average sized relative to America.
The housing in Grosse Pointe Park was primarily built before 1939 ( 59.11%), making the housing stock in Grosse Pointe Park some of the oldest overall in America, although there is a range of ages of homes in Grosse Pointe Park. The next most important housing age is between 1940-1969 ( 32.67%), followed by between 1970-1999 ( 5.43%). There's also some housing in Grosse Pointe Park built between 2000 and later ( 2.79%).
Real estate appreciation rates in Grosse Pointe Park's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.18% during the period.
NeighborhoodScout's data show that during the latest twelve months, Grosse Pointe Park's appreciation rate, at 6.38%, has been at or slightly above the national average. In the latest quarter, Grosse Pointe Park's appreciation rate has been 1.70%, which annualizes to a rate of 6.96%.
Relative to Michigan, our data show that Grosse Pointe Park's latest annual appreciation rate is higher than 50% of the other cities and towns in Michigan.
$612,429
for Michigan
for nation
4,594
$2,428 / per month