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 93,779, 37,789 total housing units (homes and apartments), and a median house value of $341,386, Livonia real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Livonia, accounting for 86.49% of the city's housing units. Other types of housing that are prevalent in Livonia include large apartment complexes or high rise apartments ( 8.38%), row houses and other attached homes ( 3.19%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.74%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Livonia. Owner-occupied housing accounts for 85.87% of Livonia's homes, and 79.11% have either three or four bedrooms, which is average sized relative to America.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Livonia's housing was primarily built during this period, from the '40s through the '60s. A full 60.89% of the city's housing hails from this era. Other housing ages represented in Livonia include homes built between 1970-1999 ( 28.89%) and housing constructed between 2000 and later ( 6.11%). There's also some housing in Livonia built before 1939 ( 4.10%).
Appreciation rates for homes in Livonia have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 90.87%, which ranks in the top 50% nationwide. This equates to an annual average Livonia house appreciation rate of 6.68%.
NeighborhoodScout's data show that during the latest twelve months, Livonia's appreciation rate, at 6.14%, has been at or slightly above the national average. In the latest quarter, Livonia's appreciation rate has been 1.70%, which annualizes to a rate of 6.96%.
Relative to Michigan, our data show that Livonia's latest annual appreciation rate is lower than 50% 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 Livonia differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Livonia - 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 Livonia real estate investment or home purchase decisions.
$341,386
for Michigan
for nation
37,789
$2,249 / per month