Hazel Park, MI's housing market is a great investment for those looking to purchase a home. The median value of homes in Hazel Park is $144,900, making it much more affordable than the US median house value of $338,100. In the last year, the appreciation rate of houses in Hazel Park was 7.58%, lower than the US average of 8.27%. This means that those who purchase homes in Hazel Park will benefit from steady growth in their investment as housing prices increase over time.
The median home cost in Hazel Park is $144,900. Home appreciation the last 10 years has been 116.4%. Home Appreciation in Hazel Park is up 10.8%.
Average Age of Homes
- The median age of Hazel Park real estate is 63 years old
The Rental Market in Hazel Park
- Renters make up 35.1% of the Hazel Park population
- 2.1% of houses and apartments in Hazel Park, 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.