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 12,236 people, 5,162 houses or apartments, and a median cost of homes of $268,446, Riverview real estate and house prices are near the national average for all cities and towns.
Single-family detached homes are the single most common housing type in Riverview, accounting for 63.09% of the city's housing units. Other types of housing that are prevalent in Riverview include large apartment complexes or high rise apartments ( 29.90%), row houses and other attached homes ( 3.46%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.26%).
The most prevalent building size and type in Riverview are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 59.22% owning and 40.78% 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. Riverview's housing was primarily built during this period, from the '40s through the '60s. A full 53.37% of the city's housing hails from this era. Other housing ages represented in Riverview include homes built between 1970-1999 ( 41.28%) and housing constructed before 1939 ( 2.94%). There's also some housing in Riverview built between 2000 and later ( 2.41%).
Appreciation rates for homes in Riverview have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 96.38%, which ranks in the top 40% nationwide. This equates to an annual average Riverview house appreciation rate of 6.98%.
NeighborhoodScout's data show that during the latest twelve months, Riverview's appreciation rate, at 5.52%, has been at or slightly above the national average. In the latest quarter, Riverview's appreciation rate has been 1.70%, which annualizes to a rate of 6.96%.
Relative to Michigan, our data show that Riverview's latest annual appreciation rate is lower than 60% 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 Riverview differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Riverview - 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 Riverview real estate investment or home purchase decisions.
$268,446
for Michigan
for nation
5,162
$1,299 / per month