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 5,551, 2,252 total housing units (homes and apartments), and a median house value of $565,244, Grosse Pointe house prices are not only among the most expensive in Michigan, Grosse Pointe 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, accounting for 69.55% of the city's housing units. Other types of housing that are prevalent in Grosse Pointe include row houses and other attached homes ( 13.80%), duplexes, homes converted to apartments or other small apartment buildings ( 11.94%), and a few large apartment complexes or high rise apartments ( 4.71%).
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. Owner-occupied housing accounts for 86.09% of Grosse Pointe's homes, and 66.99% have either three or four bedrooms, which is average sized relative to America.
The housing in Grosse Pointe was primarily built before 1939 ( 62.61%), making the housing stock in Grosse Pointe some of the oldest overall in America, although there is a range of ages of homes in Grosse Pointe. The next most important housing age is between 1940-1969 ( 29.52%), followed by between 1970-1999 ( 6.58%). There's also some housing in Grosse Pointe built between 2000 and later ( 1.30%).
Grosse Pointe's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Grosse Pointe during the period has been just 5.41%, which is lower than 70% of US communities.
NeighborhoodScout's data show that during the latest twelve months, Grosse Pointe's appreciation rate, at 6.13%, has been at or slightly above the national average. In the latest quarter, Grosse Pointe's appreciation rate has been 1.70%, which annualizes to a rate of 6.95%.
Relative to Michigan, our data show that Grosse Pointe's latest annual appreciation rate is lower than 50% of the other cities and towns in Michigan.
$565,244
for Michigan
for nation
2,252
$2,681 / per month