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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.



Byron, 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 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2023 (latest available). Updated annually.

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

Byron, MI Housing Market Trends

With a population of 528, 251 total housing units (homes and apartments), and a median house value of $304,241, Byron 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 Byron, accounting for 77.00% of the village's housing units. Other types of housing that are prevalent in Byron include duplexes, homes converted to apartments or other small apartment buildings ( 10.45%), mobile homes or trailers ( 6.62%), and a few large apartment complexes or high rise apartments ( 3.48%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Byron. Owner-occupied housing accounts for 82.47% of Byron's homes, and 66.20% have either three or four bedrooms, which is average sized relative to America.

Vacant housing appears to be an issue in Byron. Fully 12.54% of the housing stock is classified as vacant. Left unchecked, vacant Byron homes and apartments can be a drag on the real estate market, holding Byron 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.

Byron Home Appreciation Rates

In the last 10 years, Byron has experienced some of the highest home appreciation rates of any community in the nation. Byron real estate appreciated 132.48% over the last ten years, which is an average annual home appreciation rate of 8.80%, putting Byron in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Byron 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 Byron that despite a nationwide downturn in the housing market, Byron real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Byron appreciation rates continue to be some of the highest in America, at 9.61%, which is higher than appreciation rates in 76.23% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Byron. Byron appreciation rates in the latest quarter were at 0.74%, which equates to an annual appreciation rate of 3.01%.

Relative to Michigan, our data show that Byron's latest annual appreciation rate is lower than 70% of the other cities and towns in Michigan.

Average Home Values

Median Home Value

$304,241

Byron, MI Home Prices
> $1,341,000
$1,005,001 - $1,341,000
$670,001 - $1,005,000
$536,001 - $670,000
$402,001 - $536,000
$268,001 - $402,000
$134,001 - $268,000
$67,001 - $134,000
$0 - $67,000
0.5%
0.5%
0.0%
0.0%
3.0%
3.0%
7.9%
7.9%
10.2%
10.2%
40.7%
40.7%
29.8%
29.8%
6.0%
6.0%
2.0%
2.0%
0% 100.0%
% of Homes
High

for Michigan

Average

for nation

Number of Homes And Apartments:

251

Byron Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,746 / per month

Homeownership Rate

Owners
Renters
82.5%
82.5%
17.5%
17.5%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
12.5%
12.5%
87.5%
87.5%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
4.2%
4.2%
29.6%
29.6%
33.1%
33.1%
33.1%
33.1%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
77.0%
77.0%
2.4%
2.4%
10.5%
10.5%
3.5%
3.5%
6.6%
6.6%
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
1.4%
1.4%
1.7%
1.7%
29.6%
29.6%
50.5%
50.5%
15.7%
15.7%
1.0%
1.0%
0% 100.0%
% of Homes