Pontiac, 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

Pontiac, MI Housing Market Trends

With 59,438 people, 22,975 houses or apartments, and a median cost of homes of $105,649, house prices in Pontiac are some of the most affordable in Michigan as well as the nation.

Single-family detached homes are the single most common housing type in Pontiac, accounting for 61.60% of the city's housing units. Other types of housing that are prevalent in Pontiac include large apartment complexes or high rise apartments ( 24.54%), duplexes, homes converted to apartments or other small apartment buildings ( 9.18%), and a few row houses and other attached homes ( 2.91%).

People in Pontiac primarily live in small (one, two or no bedroom) single-family detached homes. Pontiac has a mixture of owner-occupied and renter-occupied housing.

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. Pontiac's housing was primarily built during this period, from the '40s through the '60s. A full 41.37% of the city's housing hails from this era. Other housing ages represented in Pontiac include homes built before 1939 ( 24.35%) and housing constructed between 1970-1999 ( 24.11%). There's also some housing in Pontiac built between 2000 and later ( 10.18%).

Vacant housing appears to be an issue in Pontiac. Fully 14.09% of the housing stock is classified as vacant. Left unchecked, vacant Pontiac homes and apartments can be a drag on the real estate market, holding Pontiac 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.

Pontiac Home Appreciation Rates

In the last 10 years, Pontiac has experienced some of the highest home appreciation rates of any community in the nation. Pontiac real estate appreciated 88.22% over the last ten years, which is an average annual home appreciation rate of 6.53%, putting Pontiac in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Pontiac definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Pontiac that despite a nationwide downturn in the housing market, Pontiac real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Pontiac appreciation rates continue to be some of the highest in America, at 10.77%, which is higher than appreciation rates in 93.31% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Pontiac. Pontiac appreciation rates in the latest quarter were at 1.46%, which equates to an annual appreciation rate of 5.98%.

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

Average Home Values

 

Median Home Value:
$105,649

Pontiac, MI HOME PRICES

> $1,436,000
0.5%
0.5%
$1,076,001 - $1,436,000
0.4%
0.4%
$717,001 - $1,076,000
0.6%
0.6%
$574,001 - $717,000
0.2%
0.2%
$430,001 - $574,000
1.0%
1.0%
$287,001 - $430,000
2.2%
2.2%
$143,001 - $287,000
19.8%
19.8%
$72,001 - $143,000
40.9%
40.9%
$0 - $72,000
34.3%
34.3%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very Low for Nation

Very Low for MI

Value Relative To Nation

Number Of Homes And Apartments:
22,975

Pontiac 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
11.07% 0.50%
1
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,216 / per month

Homeownership Rate

Owners
39.1%
39.1%
Renters
60.9%
60.9%
Vacant
14.1%
14.1%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
10.2%
10.2%
1970 - 1999
24.1%
24.1%
1940 - 1969
41.4%
41.4%
1939 or Older
24.3%
24.3%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
61.6%
61.6%
Townhomes
2.9%
2.9%
Small Apt. Buildings
9.2%
9.2%
Apt. Complexes
24.5%
24.5%
Mobile Homes
1.8%
1.8%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
4.2%
4.2%
1 Bedroom
13.9%
13.9%
2 Bedrooms
31.1%
31.1%
3 Bedrooms
39.1%
39.1%
4 Bedrooms
9.8%
9.8%
5 or more bedrooms
2.0%
2.0%
0.0% 100.0%
% OF HOMES