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Beechwood

Learn about the people, housing, costs and businesses in Beechwood, Michigan

Median Home$195,988
Median Rent$907/month
Population3,203
Leading IndustryRetail27% of local workforce
Home Value Growth⬆⬆+15.7% over 2 years
Young Adults26% of residents
Homeowners79% of occupied units
NotableAmenity Score80/100 · highly walkable area
Beechwood
MI

Frequently Asked Questions

What are today's mortgage rates in Beechwood?

As of today, the 30-year fixed mortgage rate for Beechwood is approximately 6.939% (6.977% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Beechwood?

The median home value in Beechwood is $196k. The median monthly rent is $907. Annual property taxes average $2k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Beechwood?

Home values in Beechwood have increased 15.7% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Beechwood?

Based on a typical all-in ownership cost of $877/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $38k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Beechwood is $62k/year.

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What industries drive the economy in Beechwood?

The largest employment sectors in Beechwood are retail (27%) and public administration (22%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.