Home prices have surged in the U.S. in recent years. Driven by rising demand and supply constraints during the pandemic, the median home sale price spiked by nearly 50% from the second quarter of 2020 to Q3 in 2022. While the sale price of a typical American home has fallen in recent months since, housing prices remain at historic highs.
Not only have home values soared, but borrowing costs for home buyers have also climbed. The average interest rate on a 30-year fixed mortgage has been above 6% since September 2022, a high not seen in nearly a decade and a half. In a market defined by high prices and high mortgage rates, homeownership has become prohibitively expensive for a large number of Americans.
Still, housing prices are also subject to a number of factors that can be isolated from broader, nationwide market trends — and location is one of them. Two homes that are virtually identical can vary in price by hundreds of thousands of dollars, depending on where they are. And for prospective homeowners on a budget, some Michigan cities are far more affordable than others.
According to five-year estimates from the U.S. Census Bureau’s 2022 American Community Survey, the typical home in Michigan is worth $201,100. But across the 50 cities, towns, and unincorporated communities in the state with populations of at least 25,000, median home values range from less than $50,000 to about $443,000.
In any local market, home prices are often a reflection of what residents can afford. In Michigan, many of the least expensive cities for homebuyers are not high-income areas. Of the 50 Michigan cities with available data from the ACS, 32 have a median home value that is less than the statewide median. In all but four of these places, the typical household earns less than the statewide median household income of $68,505. Similarly, most of Michigan’s more expensive housing markets have higher earning populations.
These are the cheapest and most expensive housing markets in Michigan.
50. Flint
Source: DenisTangneyJr / iStock via Getty Images
- Median home value: $43,300
- Homes worth over $1 million: 0.1%
- Homeownership rate: 54.3%
- Median household income: $35,451
- Total population: 81,863
49. Saginaw
Source: ehrlif / iStock Editorial via Getty Images
- Median home value: $51,700
- Homes worth over $1 million: 0.0%
- Homeownership rate: 56.4%
- Median household income: $35,521
- Total population: 44,316
48. Detroit
Source: pawel.gaul / E+ via Getty Images
- Median home value: $66,700
- Homes worth over $1 million: 0.5%
- Homeownership rate: 48.8%
- Median household income: $37,761
- Total population: 636,787
47. Inkster
Source: kenlund / Flickr
- Median home value: $69,000
- Homes worth over $1 million: 0.2%
- Homeownership rate: 44.5%
- Median household income: $38,381
- Total population: 25,839
46. Bay City
Source: ShriramPatki / iStock via Getty Images
- Median home value: $83,200
- Homes worth over $1 million: 0.1%
- Homeownership rate: 67.1%
- Median household income: $45,026
- Total population: 32,664
45. Jackson
Source: DenisTangneyJr / iStock via Getty Images
- Median home value: $88,000
- Homes worth over $1 million: 0.0%
- Homeownership rate: 54.7%
- Median household income: $41,988
- Total population: 31,420
44. Muskegon
Source: smontgom65 / iStock via Getty Images
- Median home value: $99,600
- Homes worth over $1 million: 0.4%
- Homeownership rate: 53.1%
- Median household income: $40,900
- Total population: 38,286
43. Pontiac
Source: RiverNorthPhotography / iStock Unreleased via Getty Images
- Median home value: $100,100
- Homes worth over $1 million: 0.1%
- Homeownership rate: 42.3%
- Median household income: $40,307
- Total population: 61,965
42. Hamtramck
Source: tisue / Flickr
- Median home value: $103,100
- Homes worth over $1 million: 1.0%
- Homeownership rate: 56.9%
- Median household income: $39,648
- Total population: 27,842
41. Lincoln Park
Source: Andrew Jameson / Wikimedia Commons
- Median home value: $109,500
- Homes worth over $1 million: 0.4%
- Homeownership rate: 70.7%
- Median household income: $55,777
- Total population: 39,807
40. Lansing
Source: Sean Pavone / iStock via Getty Images
- Median home value: $112,200
- Homes worth over $1 million: 0.2%
- Homeownership rate: 53.3%
- Median household income: $50,747
- Total population: 112,986
39. Eastpointe
- Median home value: $115,100
- Homes worth over $1 million: 0.2%
- Homeownership rate: 69.1%
- Median household income: $57,953
- Total population: 34,087
38. Battle Creek
Source: DenisTangneyJr / iStock via Getty Images
- Median home value: $115,600
- Homes worth over $1 million: 0.0%
- Homeownership rate: 63.8%
- Median household income: $49,684
- Total population: 52,469
37. Port Huron
Source: mrclark321 / iStock via Getty Images
- Median home value: $121,500
- Homes worth over $1 million: 0.2%
- Homeownership rate: 61.1%
- Median household income: $47,906
- Total population: 28,881
36. Burton
Source: 2023 Getty Images / Getty Images News via Getty Images
- Median home value: $121,700
- Homes worth over $1 million: 0.3%
- Homeownership rate: 74.0%
- Median household income: $55,698
- Total population: 29,568
35. Roseville
Source: 2012 Getty Images / Getty Images News via Getty Images
- Median home value: $129,400
- Homes worth over $1 million: 0.3%
- Homeownership rate: 63.7%
- Median household income: $57,274
- Total population: 47,476
34. Taylor
Source: Cookieman1.1.1 / Wikimedia Commons
- Median home value: $132,300
- Homes worth over $1 million: 0.3%
- Homeownership rate: 65.0%
- Median household income: $59,352
- Total population: 62,937
33. Romulus
Source: 2020 Getty Images / Getty Images News via Getty Images
- Median home value: $138,500
- Homes worth over $1 million: 0.0%
- Homeownership rate: 67.0%
- Median household income: $63,854
- Total population: 25,055
32. Southgate
Source: Public Domain / Wikimedia Commons
- Median home value: $152,400
- Homes worth over $1 million: 0.9%
- Homeownership rate: 68.0%
- Median household income: $62,792
- Total population: 29,948
31. Kalamazoo
Source: Sean Pavone / iStock via Getty Images
- Median home value: $152,700
- Homes worth over $1 million: 0.6%
- Homeownership rate: 43.6%
- Median household income: $48,649
- Total population: 73,342
30. Garden City
Source: Public Domain / Wikimedia Commons
- Median home value: $152,800
- Homes worth over $1 million: 0.4%
- Homeownership rate: 80.7%
- Median household income: $63,630
- Total population: 27,203
29. Dearborn Heights
Source: formulanone / Flickr
- Median home value: $161,200
- Homes worth over $1 million: 0.3%
- Homeownership rate: 71.8%
- Median household income: $58,335
- Total population: 62,474
28. Westland
- Median home value: $164,900
- Homes worth over $1 million: 0.2%
- Homeownership rate: 60.3%
- Median household income: $59,930
- Total population: 84,806
27. Allen Park
Source: DakotaSmith / iStock via Getty Images
- Median home value: $165,600
- Homes worth over $1 million: 0.4%
- Homeownership rate: 86.2%
- Median household income: $73,792
- Total population: 28,395
26. Warren
Source: Bill Pugliano / Getty Images
- Median home value: $169,300
- Homes worth over $1 million: 0.3%
- Homeownership rate: 71.1%
- Median household income: $61,633
- Total population: 138,588
25. Madison Heights
Source: RiverNorthPhotography / iStock Unreleased via Getty Images
- Median home value: $172,500
- Homes worth over $1 million: 0.4%
- Homeownership rate: 62.5%
- Median household income: $63,224
- Total population: 28,521
24. Oak Park
Source: 2022 Getty Images / Getty Images News via Getty Images
- Median home value: $176,900
- Homes worth over $1 million: 0.2%
- Homeownership rate: 57.9%
- Median household income: $61,991
- Total population: 29,495
23. Midland
Source: ShriramPatki / iStock via Getty Images
- Median home value: $177,600
- Homes worth over $1 million: 0.1%
- Homeownership rate: 67.0%
- Median household income: $71,809
- Total population: 42,404
22. Wyoming
Source: Public Domain / Wikimedia Commons
- Median home value: $180,300
- Homes worth over $1 million: 0.4%
- Homeownership rate: 66.9%
- Median household income: $67,234
- Total population: 76,732
21. St. Clair Shores
- Median home value: $181,300
- Homes worth over $1 million: 0.3%
- Homeownership rate: 83.2%
- Median household income: $71,481
- Total population: 58,656
20. Dearborn
Source: TennesseePhotographer / iStock Editorial via Getty Images
- Median home value: $189,400
- Homes worth over $1 million: 0.6%
- Homeownership rate: 69.1%
- Median household income: $64,600
- Total population: 108,414
19. Holt
- Median home value: $197,400
- Homes worth over $1 million: 0.0%
- Homeownership rate: 65.7%
- Median household income: $83,722
- Total population: 25,374
18. Grand Rapids
Source: scottb211 / Flickr
- Median home value: $203,900
- Homes worth over $1 million: 0.3%
- Homeownership rate: 54.5%
- Median household income: $61,634
- Total population: 198,096
17. Southfield
Source: Davel5957 / iStock via Getty Images
- Median home value: $212,800
- Homes worth over $1 million: 0.4%
- Homeownership rate: 51.1%
- Median household income: $63,980
- Total population: 76,107
16. Holland
Source: Roberto Galan / iStock Editorial via Getty Images
- Median home value: $212,900
- Homes worth over $1 million: 1.4%
- Homeownership rate: 66.1%
- Median household income: $69,152
- Total population: 34,186
15. Portage
Source: 2020 Pool / Getty Images News via Getty Images
- Median home value: $222,600
- Homes worth over $1 million: 0.4%
- Homeownership rate: 66.0%
- Median household income: $74,837
- Total population: 48,936
14. Kentwood
- Median home value: $227,000
- Homes worth over $1 million: 1.2%
- Homeownership rate: 59.4%
- Median household income: $66,945
- Total population: 54,042
13. East Lansing
Source: GD333 / Wikimedia Commons
- Median home value: $240,800
- Homes worth over $1 million: 0.1%
- Homeownership rate: 39.7%
- Median household income: $44,094
- Total population: 45,403
12. Sterling Heights
Source: Bill Pugliano / Getty Images
- Median home value: $243,400
- Homes worth over $1 million: 0.2%
- Homeownership rate: 76.0%
- Median household income: $75,381
- Total population: 133,744
11. Walker
- Median home value: $246,000
- Homes worth over $1 million: 0.4%
- Homeownership rate: 62.2%
- Median household income: $72,020
- Total population: 25,175
10. Livonia
Source: KenHudak / Getty Images
- Median home value: $249,000
- Homes worth over $1 million: 0.3%
- Homeownership rate: 87.2%
- Median household income: $92,458
- Total population: 94,928
9. Allendale
- Median home value: $266,500
- Homes worth over $1 million: 0.0%
- Homeownership rate: 48.9%
- Median household income: $64,356
- Total population: 25,206
8. Royal Oak
Source: Brian Sevald / iStock via Getty Images
- Median home value: $289,800
- Homes worth over $1 million: 1.0%
- Homeownership rate: 65.4%
- Median household income: $92,799
- Total population: 58,053
7. Okemos
- Median home value: $304,800
- Homes worth over $1 million: 0.8%
- Homeownership rate: 56.8%
- Median household income: $88,298
- Total population: 25,549
6. Farmington Hills
Source: 2006 Getty Images / Getty Images News via Getty Images
- Median home value: $319,000
- Homes worth over $1 million: 0.5%
- Homeownership rate: 64.3%
- Median household income: $101,728
- Total population: 83,562
5. Rochester Hills
Source: RiverNorthPhotography / iStock Unreleased via Getty Images
- Median home value: $359,800
- Homes worth over $1 million: 1.6%
- Homeownership rate: 77.3%
- Median household income: $115,968
- Total population: 76,041
4. Troy
Source: TracieMichelle / iStock Editorial via Getty Images
- Median home value: $375,600
- Homes worth over $1 million: 1.4%
- Homeownership rate: 75.0%
- Median household income: $115,639
- Total population: 87,170
3. Novi
Source: 2023 Getty Images / Getty Images News via Getty Images
- Median home value: $380,200
- Homes worth over $1 million: 1.0%
- Homeownership rate: 67.9%
- Median household income: $110,588
- Total population: 65,870
2. Ann Arbor
Source: Davel5957 / iStock Unreleased via Getty Images
- Median home value: $416,500
- Homes worth over $1 million: 4.7%
- Homeownership rate: 45.0%
- Median household income: $78,546
- Total population: 122,216
1. Forest Hills
Source: Larry Pieniazek, Lar / Wikimedia Commons
- Median home value: $442,800
- Homes worth over $1 million: 6.5%
- Homeownership rate: 94.7%
- Median household income: $150,153
- Total population: 28,425
| Rank | Places in Michigan with at least 25,000 residents | Median home value ($) | Homeownership rate (%) | Median household income ($) | Total Population |
|---|---|---|---|---|---|
| 1 | Forest Hills | 442,800 | 94.7 | 150,153 | 28,425 |
| 2 | Ann Arbor | 416,500 | 45.0 | 78,546 | 122,216 |
| 3 | Novi | 380,200 | 67.9 | 110,588 | 65,870 |
| 4 | Troy | 375,600 | 75.0 | 115,639 | 87,170 |
| 5 | Rochester Hills | 359,800 | 77.3 | 115,968 | 76,041 |
| 6 | Farmington Hills | 319,000 | 64.3 | 101,728 | 83,562 |
| 7 | Okemos | 304,800 | 56.8 | 88,298 | 25,549 |
| 8 | Royal Oak | 289,800 | 65.4 | 92,799 | 58,053 |
| 9 | Allendale | 266,500 | 48.9 | 64,356 | 25,206 |
| 10 | Livonia | 249,000 | 87.2 | 92,458 | 94,928 |
| 11 | Walker | 246,000 | 62.2 | 72,020 | 25,175 |
| 12 | Sterling Heights | 243,400 | 76.0 | 75,381 | 133,744 |
| 13 | East Lansing | 240,800 | 39.7 | 44,094 | 45,403 |
| 14 | Kentwood | 227,000 | 59.4 | 66,945 | 54,042 |
| 15 | Portage | 222,600 | 66.0 | 74,837 | 48,936 |
| 16 | Holland | 212,900 | 66.1 | 69,152 | 34,186 |
| 17 | Southfield | 212,800 | 51.1 | 63,980 | 76,107 |
| 18 | Grand Rapids | 203,900 | 54.5 | 61,634 | 198,096 |
| 19 | Holt | 197,400 | 65.7 | 83,722 | 25,374 |
| 20 | Dearborn | 189,400 | 69.1 | 64,600 | 108,414 |
| 21 | St. Clair Shores | 181,300 | 83.2 | 71,481 | 58,656 |
| 22 | Wyoming | 180,300 | 66.9 | 67,234 | 76,732 |
| 23 | Midland | 177,600 | 67.0 | 71,809 | 42,404 |
| 24 | Oak Park | 176,900 | 57.9 | 61,991 | 29,495 |
| 25 | Madison Heights | 172,500 | 62.5 | 63,224 | 28,521 |
| 26 | Warren | 169,300 | 71.1 | 61,633 | 138,588 |
| 27 | Allen Park | 165,600 | 86.2 | 73,792 | 28,395 |
| 28 | Westland | 164,900 | 60.3 | 59,930 | 84,806 |
| 29 | Dearborn Heights | 161,200 | 71.8 | 58,335 | 62,474 |
| 30 | Garden City | 152,800 | 80.7 | 63,630 | 27,203 |
| 31 | Kalamazoo | 152,700 | 43.6 | 48,649 | 73,342 |
| 32 | Southgate | 152,400 | 68.0 | 62,792 | 29,948 |
| 33 | Romulus | 138,500 | 67.0 | 63,854 | 25,055 |
| 34 | Taylor | 132,300 | 65.0 | 59,352 | 62,937 |
| 35 | Roseville | 129,400 | 63.7 | 57,274 | 47,476 |
| 36 | Burton | 121,700 | 74.0 | 55,698 | 29,568 |
| 37 | Port Huron | 121,500 | 61.1 | 47,906 | 28,881 |
| 38 | Battle Creek | 115,600 | 63.8 | 49,684 | 52,469 |
| 39 | Eastpointe | 115,100 | 69.1 | 57,953 | 34,087 |
| 40 | Lansing | 112,200 | 53.3 | 50,747 | 112,986 |
| 41 | Lincoln Park | 109,500 | 70.7 | 55,777 | 39,807 |
| 42 | Hamtramck | 103,100 | 56.9 | 39,648 | 27,842 |
| 43 | Pontiac | 100,100 | 42.3 | 40,307 | 61,965 |
| 44 | Muskegon | 99,600 | 53.1 | 40,900 | 38,286 |
| 45 | Jackson | 88,000 | 54.7 | 41,988 | 31,420 |
| 46 | Bay City | 83,200 | 67.1 | 45,026 | 32,664 |
| 47 | Inkster | 69,000 | 44.5 | 38,381 | 25,839 |
| 48 | Detroit | 66,700 | 48.8 | 37,761 | 636,787 |
| 49 | Saginaw | 51,700 | 56.4 | 35,521 | 44,316 |
| 50 | Flint | 43,300 | 54.3 | 35,451 | 81,863 |
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