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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Plymouth, 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 Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

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

Plymouth, MI Housing Market Trends

With a population of 9,252, 4,123 total housing units (homes and apartments), and a median house value of $570,906, Plymouth house prices are not only among the most expensive in Michigan, Plymouth 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 Plymouth, accounting for 60.07% of the city's housing units. Other types of housing that are prevalent in Plymouth include large apartment complexes or high rise apartments ( 21.35%), duplexes, homes converted to apartments or other small apartment buildings ( 14.50%), and a few row houses and other attached homes ( 4.07%).

The most prevalent building size and type in Plymouth are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 64.93% owning and 35.07% renting.

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. Plymouth's housing was primarily built during this period, from the '40s through the '60s. A full 39.75% of the city's housing hails from this era. Other housing ages represented in Plymouth include homes built before 1939 ( 29.91%) and housing constructed between 2000 and later ( 15.23%). There's also some housing in Plymouth built between 1970-1999 ( 15.12%).

Plymouth Home Appreciation Rates

Appreciation rates for homes in Plymouth have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 84.58%, which ranks in the top 50% nationwide. This equates to an annual average Plymouth house appreciation rate of 6.32%.

Over the last year, Plymouth appreciation rates have trailed the rest of the nation. In the last twelve months, Plymouth's appreciation rate has been 4.71%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Plymouth were at -0.26%, which equates to an annual appreciation rate of -1.02%.

Relative to Michigan, our data show that Plymouth'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 Plymouth differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Plymouth - 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 Plymouth real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$570,906

Plymouth, MI Home Prices
> $1,288,000
$965,001 - $1,288,000
$643,001 - $965,000
$515,001 - $643,000
$386,001 - $515,000
$257,001 - $386,000
$129,001 - $257,000
$64,001 - $129,000
$0 - $64,000
5.4%
5.4%
12.0%
12.0%
15.4%
15.4%
16.1%
16.1%
16.9%
16.9%
14.1%
14.1%
14.4%
14.4%
2.6%
2.6%
3.2%
3.2%
0% 100.0%
% of Homes
Very High

for Michigan

Very High

for nation

Number of Homes And Apartments:

4,123

Plymouth Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,464 / per month

Homeownership Rate

Owners
Renters
64.9%
64.9%
35.1%
35.1%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
6.1%
6.1%
93.9%
93.9%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
15.2%
15.2%
15.1%
15.1%
39.7%
39.7%
29.9%
29.9%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
60.1%
60.1%
4.1%
4.1%
14.5%
14.5%
21.4%
21.4%
0.0%
0.0%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.7%
0.7%
18.7%
18.7%
25.0%
25.0%
31.9%
31.9%
18.8%
18.8%
4.8%
4.8%
0% 100.0%
% of Homes