Michigan
Ranked #14 of 51 for housing affordability
Median Home Price
🏠$236K
3.41x income
Median Rent
🔑$1,101
30.0% rent-burdened
Median Income
💰$69K
Population: 10,037,261
Homeownership
🏡74.0%
7,977 experiencing homelessness
Housing Shortage
📉60,000
units needed
Building Permits (2024)
🔨21,750
Price-to-Income
📊3.41x
Severe Rent Burden
⚠️14.5%
paying >50% of income
Rent Burden Breakdown
vs. National Average
House Price Index (2000–2025)
FHFA All-Transactions HPI · Base = 100 (1980s)
HUD Fair Market Rents (FY2026)
Maximum rent HUD considers fair for Section 8 voucher holders
FMR ($1310) is above the state median rent ($1101) — vouchers cover typical rents.
Metros in Michigan
| Metro | Score | Home Price | Rent | Income | Rent Burden |
|---|---|---|---|---|---|
| Detroit | 68 | $251K | $1,183 | $73K | 31.0% |
| Grand Rapids | 55 | $294K | $1,207 | $78K | 30.0% |
| Lansing-East Lansing | 89 | $219K | $1,042 | $70K | 25.9% |
| Flint | 90 | $182K | $928 | $60K | 25.4% |
| Ann Arbor | 77 | $360K | $1,451 | $84K | 31.6% |
| Kalamazoo-Portage | 83 | $251K | $1,058 | $67K | 20.9% |
| Saginaw | 95 | $146K | $917 | $59K | 27.2% |
| Muskegon-Norton Shores | 86 | $209K | $1,003 | $61K | 26.9% |
| Traverse City | 77 | $334K | $1,288 | $78K | 15.5% |
| Niles | 82 | $238K | $936 | $62K | 24.3% |
| Battle Creek | 92 | $164K | $906 | $58K | 23.4% |
| Bay City | 93 | $156K | $811 | $59K | 23.0% |
| Midland | 93 | $196K | $894 | $73K | 28.4% |
Market Trends
Homeownership Rate
74.0%
Rent-to-Income Ratio
19.0%
of gross income spent on rent
Total Households
4,107,809
Owner-Occupied
3,028,591
Renter-Occupied
1,079,218
Homelessness
Latest Count (2024)
9,739
1-Year Change
+8.3%
10-Year Trend (2015–2024)
-7.4%
10,516 → 9,739
Housing Policies
Construction Activity
Total Permits (2024)
21,750
1.6% of national total
Single-Family
15,045
69% of state permits
Multi-Family
6,705
31% of state permits
Mortgage Access
National HMDA data — mortgage denial rates by race/ethnicity
Denial Rates by Race
Top Denial Reasons
Housing Shortage
State Shortage
60,000
units needed
National Shortage
7,300,000
0.8% of national total
Affordable Units per 100 ELI Renters
35
nationally (NLIHC)
National Shortage by Unit Type
45%
Single-Family
18%
Small Multi (2-4)
22%
Medium Multi (5-49)
15%
Large Multi (50+)
Rent Burden Detail
Michigan burden rates with national demographic breakdown
Cost-Burdened Renters
30.0%
paying >30% of income
Severely Burdened
14.5%
paying >50% of income
Households >30% Burden
264,134
Households >35% Burden
87,565