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 3,955 people, 1,847 houses or apartments, and a median cost of homes of $156,592, house prices in Belleville are some of the most affordable in Michigan as well as the nation.
Large apartment complexes or high rise apartments are the single most common housing type in Belleville, accounting for 35.33% of the city's housing units. Other types of housing that are prevalent in Belleville include single-family detached homes ( 27.50%), mobile homes or trailers ( 21.96%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 9.38%). Cities that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of cities are often walkable and compact, and often have a lively downtown.
People in Belleville primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Belleville has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Belleville 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 Belleville built between 1940-1969 ( 22.30%). A lesser amount of the housing stock also hails from before 1939 ( 9.86%). There's also some housing in Belleville built between 2000 and later ( 7.87%).
Vacant housing appears to be an issue in Belleville. Fully 10.25% of the housing stock is classified as vacant. Left unchecked, vacant Belleville homes and apartments can be a drag on the real estate market, holding Belleville real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Belleville's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Belleville during the period has been just 5.48%, which is lower than 70% of US communities.
Over the last year, Belleville appreciation rates have trailed the rest of the nation. In the last twelve months, Belleville's appreciation rate has been 3.16%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Belleville were at 1.69%, which equates to an annual appreciation rate of 6.95%.
Relative to Michigan, our data show that Belleville's latest annual appreciation rate is lower than 80% 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 Belleville differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Belleville - 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 Belleville real estate investment or home purchase decisions.
$156,592
for Michigan
for nation
1,847
$1,607 / per month