Detroit-Warren-Dearborn Metro Area, MI Housing

The Detroit-Warren-Dearborn, MI Metro Area has seen a steady appreciation in housing value over the past year. The median house value in this area stands at $223,500, compared to the US median house value of $338,100. This 9.00% one-year appreciation rate is higher than the 8.27% rate of US housing values, indicating that this region is on the rise and a great place for those looking for an affordable home. With increasing job opportunities and a growing economy, Detroit-Warren-Dearborn, MI Metro Area houses are becoming more desirable and valuable each year.

The median home cost in Detroit-Warren-Dearborn Metro Area is $223,500. Home appreciation the last 10 years has been 115.9%. Home Appreciation in Detroit-Warren-Dearborn Metro Area is up 11.3%.

Average Age of Homes

- The median age of Detroit-Warren-Dearborn Metro Area real estate is 51 years old

The Rental Market in Detroit-Warren-Dearborn Metro Area

- Renters make up 26.6% of the Detroit-Warren-Dearborn Metro Area population
- 1.3% of houses and apartments in Detroit-Warren-Dearborn Metro Area, 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.

Median Monthly Rent by Number of Bedrooms

Housing by Year Built

Housing	Detroit-Warren-Dearborn, Michigan	United States
	1,899,533.0	139,647,020.0
	53	42
	$223,500	$338,100
	11.3%	16.6%
	48.6%	57.0%
	115.9%	101.1%
	$16.29	$10.98
	$2,985	$2,690
	63.9%	57.4%
	8.9%	11.2%
	27.2%	31.4%
Vacant Housing
	1.3%	1.9%
	0.2%	0.4%
	0.8%	0.7%
	0.6%	0.4%
	0.7%	3.6%
	5.3%	4.1%
Value of Owner-Occupied Housing
	3.9%	2.6%
	3.9%	2.4%
	4.0%	2.8%
	4.8%	3.9%
	4.9%	4.5%
	14.1%	11.3%
	16.1%	13.0%
	22.3%	20.1%
	13.0%	13.6%
	6.2%	8.3%
	4.5%	9.7%
	1.3%	3.9%
	0.5%	2.2%
	0.2%	0.8%
	0.3%	1.1%
Housing Units by Year Structure Built
	0.1%	0.2%
	8.5%	13.6%
	8.5%	13.6%
	11.5%	13.6%
	9.1%	13.2%
	14.6%	14.8%
	11.5%	13.6%
	18.8%	10.0%
	9.1%	4.7%
	12.6%	12.2%

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