Grosse Pointe Farms, MI is a residential area located in the outskirts of Detroit. It is known for its high housing median value of $431,900, which is much higher than the US house median value of $338,100. However, while the US house appreciation rate was 8.27% over the last year, Grosse Pointe Farms had an appreciation rate of only 4.30%. Despite this lower appreciation rate, Grosse Pointe Farms remains a desirable area for potential home buyers due to its high median value and close proximity to Detroit.
The median home cost in Grosse Pointe Farms is $431,900. Home appreciation the last 10 years has been 130.9%. Home Appreciation in Grosse Pointe Farms is up 9.7%.
Average Age of Homes
- The median age of Grosse Pointe Farms real estate is 69 years old
The Rental Market in Grosse Pointe Farms
- Renters make up 2.7% of the Grosse Pointe Farms population
- 0.0% of houses and apartments in Grosse Pointe Farms, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.