Canton, MI Real Estate Market

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Canton, MI Housing Market Trends

With a population of 93,703, 1,657 total housing units (homes and apartments), and a median house value of $243,181, Canton real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Canton, accounting for 64.11% of the town's housing units. Other types of housing that are prevalent in Canton include large apartment complexes or high rise apartments ( 16.29%), row houses and other attached homes ( 10.85%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.49%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Canton. Owner-occupied housing accounts for 77.30% of Canton's homes, and 69.12% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Canton 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 Canton built between 2000 and later ( 25.21%). A lesser amount of the housing stock also hails from between 1940-1969 ( 6.11%).

Canton Home Appreciation Rates

Appreciation rates for homes in Canton have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 58.25%, which ranks in the top 30% nationwide. This equates to an annual average Canton house appreciation rate of 4.70%.

Over the last year, Canton appreciation rates have trailed the rest of the nation. In the last twelve months, Canton's appreciation rate has been 3.64%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Canton were at 1.83%, which equates to an annual appreciation rate of 7.52%.

Relative to Michigan, our data show that Canton's latest annual appreciation rate is lower than 90% 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 town. Individual neighborhoods within Canton differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Canton - 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 Canton real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$243,181

Canton, MI HOME PRICES

> $1,205,000
0.5%
0.5%
$903,001 - $1,205,000
0.7%
0.7%
$602,001 - $903,000
1.0%
1.0%
$482,001 - $602,000
1.7%
1.7%
$361,001 - $482,000
9.6%
9.6%
$241,001 - $361,000
34.0%
34.0%
$120,001 - $241,000
32.6%
32.6%
$60,001 - $120,000
12.0%
12.0%
$0 - $60,000
7.9%
7.9%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

Very High for MI

Value Relative To Nation

Number Of Homes And Apartments:
1,657

Canton Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
2020 Q4 - 2021 Q1
Last 12 Months:
2020 Q1 - 2021 Q1
Last 2 Years:
2019 Q1 - 2021 Q1
Last 5 Years:
2016 Q1 - 2021 Q1
Last 10 Years:
2011 Q1 - 2021 Q1
Since 2000:
2000 Q1 - 2021 Q1
115.74% 3.68%
10
9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,740 / per month

Homeownership Rate

Owners
77.3%
77.3%
Renters
22.7%
22.7%
Vacant
4.7%
4.7%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
25.2%
25.2%
1970 - 1999
67.7%
67.7%
1940 - 1969
6.1%
6.1%
1939 or Older
1.0%
1.0%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
64.1%
64.1%
Townhomes
10.8%
10.8%
Small Apt. Buildings
4.5%
4.5%
Apt. Complexes
16.3%
16.3%
Mobile Homes
4.2%
4.2%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.6%
0.6%
1 Bedroom
4.9%
4.9%
2 Bedrooms
22.3%
22.3%
3 Bedrooms
34.6%
34.6%
4 Bedrooms
34.5%
34.5%
5 or more bedrooms
3.1%
3.1%
0.0% 100.0%
% OF HOMES