According to statistics, the population in Birmingham, MI amounts to 20,836, which shows decline 1% compared to the previous year. The median age of the city’s residents is 42. The average household income is $114,537, shifting growth 2% from the past year, and the average property value in Birmingham, MI growth 7% to $467,700 throughout the year.
|Number Of Employees||10,795|
|Median Property Value||$467,700|
The average household income in Birmingham, MI grew from $112,545 to $114,537 in the past year. This data is an estimate based upon 8,982 households in Birmingham, MI . The chart below presents how household income is distributed in Birmingham, MI in comparison to the revenue allocation amid households nationally.
According to data from last year, the average property value in Birmingham, MI shifted from $439,000 to $467,700 throughout the year. The subsequent graph indicates the share of properties in the given price range in Birmingham, MI in comparison to the median property value in the same price segment across the country. According to the data, the greatest share of Birmingham, MI properties falls in the '$500,000 to $749,999' range, which is higher than the most significant median property across the country.
One of the most important aspects for property owners is the amount of property taxes. This graph shows distribution of property taxes in Birmingham, MI compared to median property taxes around the country. The prevalent amount of property taxes in Birmingham, MI equals $3000, which is less than the national average.
During Oct 2022, the average price for an apartment in/near Birmingham, MI decreased by 5.3% to $996,326.
After collecting all data points, we now see that the average price for 1-bed apartment decreased by 48.9% to $291,666. Asking price for 2-bed apartment also increased by 52.3% and a place of this size will now cost you $711,991. A 3-bed apartment goes for $720,855, it decreased by 14% lately. We discerned the rise of 4- and more bed apartment pricing. It decreased by 5.2% and made it down to $1,449,845.
Price reports demonstrate that house price decreased by 8.1% this month making it up to $1,044,528. Condos faced an upward trend these days. The median price for a condo decreased by 20%, it’s now available for $687,000. An average value of duplex is $675,000, thus a median price for a duplex remains the same this month. The price dynamics of lofts changed, it increased by 40%, the price tag now starts at $1,748,500.