Detroit
Michigan · Ranked #233 of 373 metros
68Moderate
💡
Housing in Detroit costs 3.46× the median income, below the national average of 4.5×. The median home price is $251K and median rent is $1,183/month. Detroit ranks #233 of 373 metros for affordability.
Median Home Price
🏠$251K
Need $63K income
Median Rent
🔑$1,183
Need $44K income
Housing Shortage
📉25,000
units needed
Building Permits
🔨9,000
annual
Median Income
💰$73K
Pop: 4,342,304
Rent Burden
⚠️31.0%
of renters paying >30%
Price Change (YoY)
📈+5%
Homeownership
🏡72.0%
Rent Burden
vs. National Average
Key Facts vs. National Average
| Metric | Detroit | National |
|---|---|---|
| Price-to-Income Ratio | 3.46x | 6.1x |
| Rent Burden | 31.0% | 31.5% |
| Homeownership Rate | 72.0% | 65.5% |
| YoY Price Change | +5% | +3.5% |
| YoY Rent Change | +3.5% | +2.8% |
| Mortgage Denial Rate | 16.8% | 13.5% |
| Eviction Rate | 5.5% | 3.6% |
House Price Index (2000–2025)
FHFA All-Transactions HPI
Since 2019: +60.3%Since 2000: +85.3%
HUD Fair Market Rents (FY2026)
Section 8 voucher payment standards
Studio$1,009/mo
1 Bedroom$1,122/mo
2 Bedroom$1,411/mo
3 Bedroom$1,724/mo
4 Bedroom$1,868/mo
Zillow Market Data
Home Value (ZHVI)
$258K
1yr: +3.1%5yr: +31.4%
Rent (ZORI)
$1,461/mo
1yr: +2.3%5yr: +29.1%
Note: ZORI reflects current listing prices and may differ from the Census ACS median rent shown above, which captures what renters actually pay including below-market and subsidized units.
Redfin Market Activity
Median Sale Price
$180K
Active Inventory
3,420
Days on Market
44
Sold Above List
33.7%
Price Drops
22.5%