DeWitt, 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 Q2 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

DeWitt, MI Housing Market Trends

With a population of 4,808, 1,785 total housing units (homes and apartments), and a median house value of $294,374, DeWitt real estate is some of the most expensive in Michigan, although DeWitt home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in DeWitt, accounting for 74.24% of the city's housing units. Other types of housing that are prevalent in DeWitt include large apartment complexes or high rise apartments ( 16.14%), duplexes, homes converted to apartments or other small apartment buildings ( 5.02%), and a few row houses and other attached homes ( 4.60%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in DeWitt. Owner-occupied housing accounts for 76.05% of DeWitt's homes, and 60.02% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in DeWitt 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 DeWitt built between 1940-1969 ( 17.85%). A lesser amount of the housing stock also hails from between 2000 and later ( 17.37%). There's also some housing in DeWitt built before 1939 ( 8.39%).

DeWitt Home Appreciation Rates

Appreciation rates for homes in DeWitt have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 60.06%, which ranks in the top 30% nationwide. This equates to an annual average DeWitt house appreciation rate of 4.82%.

Over the last year, DeWitt appreciation rates have trailed the rest of the nation. In the last twelve months, DeWitt's appreciation rate has been 8.16%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in DeWitt were at 2.81%, which equates to an annual appreciation rate of 11.71%.

Relative to Michigan, our data show that DeWitt's latest annual appreciation rate is lower than 80% of the other cities and towns in Michigan.

Average Home Values

 

Median Home Value:
$294,374

DeWitt, MI HOME PRICES

> $1,267,000
0.5%
0.5%
$950,001 - $1,267,000
0.7%
0.7%
$633,001 - $950,000
1.0%
1.0%
$507,001 - $633,000
6.6%
6.6%
$380,001 - $507,000
17.5%
17.5%
$253,001 - $380,000
37.3%
37.3%
$127,001 - $253,000
33.0%
33.0%
$63,001 - $127,000
2.8%
2.8%
$0 - $63,000
0.6%
0.6%
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:
1,785

DeWitt Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
49.10% 1.88%
7
2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,137 / per month

Homeownership Rate

Owners
76.1%
76.1%
Renters
23.9%
23.9%
Vacant
4.6%
4.6%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
17.4%
17.4%
1970 - 1999
56.4%
56.4%
1940 - 1969
17.9%
17.9%
1939 or Older
8.4%
8.4%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
74.2%
74.2%
Townhomes
4.6%
4.6%
Small Apt. Buildings
5.0%
5.0%
Apt. Complexes
16.1%
16.1%
Mobile Homes
0.0%
0.0%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.0%
0.0%
1 Bedroom
7.0%
7.0%
2 Bedrooms
23.1%
23.1%
3 Bedrooms
36.7%
36.7%
4 Bedrooms
23.3%
23.3%
5 or more bedrooms
9.8%
9.8%
0.0% 100.0%
% OF HOMES