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 8,385 people, 3,698 houses or apartments, and a median cost of homes of $181,788, house prices in Center Line are solidly below the national average.
Single-family detached homes are the single most common housing type in Center Line, accounting for 60.84% of the city's housing units. Other types of housing that are prevalent in Center Line include large apartment complexes or high rise apartments ( 25.66%), row houses and other attached homes ( 9.70%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.37%).
The most prevalent building size and type in Center Line are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 54.19% owning and 45.81% 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. Center Line's housing was primarily built during this period, from the '40s through the '60s. A full 60.55% of the city's housing hails from this era. Other housing ages represented in Center Line include homes built between 1970-1999 ( 28.66%) and housing constructed before 1939 ( 10.34%).
In the last 10 years, Center Line has experienced some of the highest home appreciation rates of any community in the nation. Center Line real estate appreciated 137.40% over the last ten years, which is an average annual home appreciation rate of 9.03%, putting Center Line in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Center Line definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
NeighborhoodScout's data show that during the latest twelve months, Center Line's appreciation rate, at 5.63%, has been at or slightly above the national average. In the latest quarter, Center Line's appreciation rate has been 1.70%, which annualizes to a rate of 6.96%.
Relative to Michigan, our data show that Center Line's latest annual appreciation rate is lower than 50% of the other cities and towns in Michigan.
$181,788
for Michigan
for nation
3,698
$1,222 / per month