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 a population of 10,233, 3,894 total housing units (homes and apartments), and a median house value of $421,328, New Boston real estate is some of the most expensive in Michigan, although New Boston home values aren't among America's most expensive.
Single-family detached homes are the single most common housing type in New Boston, accounting for 68.14% of the town's housing units. Other types of housing that are prevalent in New Boston include mobile homes or trailers ( 24.86%), row houses and other attached homes ( 6.77%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in New Boston. Owner-occupied housing accounts for 89.10% of New Boston's homes, and 86.20% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in New Boston 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 New Boston built between 2000 and later ( 39.54%). A lesser amount of the housing stock also hails from between 1940-1969 ( 13.12%). There's also some housing in New Boston built before 1939 ( 3.43%).
Real estate appreciation rates in New Boston's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.71% during the period.
Appreciation rates are so strong in New Boston that despite a nationwide downturn in the housing market, New Boston real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, New Boston appreciation rates continue to be some of the highest in America, at 9.66%, which is higher than appreciation rates in 76.70% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in New Boston. New Boston appreciation rates in the latest quarter were at 1.46%, which equates to an annual appreciation rate of 5.96%.
Relative to Michigan, our data show that New Boston's latest annual appreciation rate is lower than 60% of the other cities and towns in Michigan.
$421,328
for Michigan
for nation
3,894
$2,188 / per month