Are you sure you want to remove this series from the graph? See Listings $349,900 . December 2, 2020. Historical research data on the Home Price Index for the Michigan Real Estate Market is available back to the 1st Quarter, of 1975. An amount below 100 means Michigan is cheaper than the US average. S&P Dow Jones Indices LLC, Release: Please review the copyright information in the series notes before sharing. Federal Reserve Bank of St. Louis; For nearby or other top Michigan real estate, home values or foreclosures, see our additional real estate links. That wealthy area east of Detroit recorded 716 home sales, with an average selling price of $351,837. 3: M-72–Au Sable River Bridge Search for home values and property records in Michigan by selecting one of the top home values markets listed or by using our alphabetical directory of Michigan counties. Since 1956, the state has issued historic and authentic license plates for antique vehicles used in parades, fairs, car shows, swap meets, and other events. Many residents enjoy restoring and collecting vintage automobiles, trucks, and motorcycles. St. Louis, MO 63102, More Categories > Prices > House Price Indexes. 1 Average gross rent was $898 in 2019.The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. There are currently 77,144 properties with a median home value in Michigan of $152,700. Located in the center of the Great Lakes, Michigan is divided into two land masses known as the Upper Interested in knowing how much your home in the United States is worth? The typical home value of homes in the United States is $262,604. Index Jan 2000=100, Seasonally Adjusted, Frequency:  Housing is the biggest factor in the cost of living difference. The median home price in Michigan is $151,400. S&P Dow Jones Indices LLC, Categories > U.S. In Michigan for just above the median home price, one could buy a 3-bedroom, 2-bathroom home in Roscommon, or a 3-bedroom, 3-bathroom in Potiac. The other is Ann Arbor, home to the University of Michigan. Of the total homes in Detroit, MI 90% are for sale, 10% are for rent, and 81% are single family homes. Best strategies for first time home buyers or buying again after years of owning. Source: All-Transactions House Price Index for Michigan [MISTHPI], Federal Reserve Bank of St. Louis, Michigan home prices have been on a roller coaster for the past decade -- first a sharp downward turn during the Great Recession and then a trend upwards in recent years. ... more expensive. Read more on how this ranking was calculated. Michigan's largest real estate company, Real Estate One, with offices servicing Michigan, knows the Michigan real estate market. Between 1967 and 2020: Housing experienced an average inflation rate of 4.19% per year.This rate of change indicates significant inflation. In 2019, the median monthly rent for 3 bedroom homes in Detroit was $1,462, which is 0.71% of the purchase price of $207,000. Are you sure you want to remove this series from the graph? Historical Marker Program. Source: Rental Living. U.S. Federal Housing Finance Agency, S&P/Case-Shiller Home Price Indices, Units:  However, in the Detroit neighborhoods where RealWealth members invest the median monthly rent for 3 bedroom single family homes was $1,000 in 2019. This can not be undone. View pictures of homes, review sales history, and use our detailed filters to find the perfect place. Explore the best suburbs to buy a house based on home values, property taxes, home ownership rates, housing costs, and real estate trends. Graph and download economic data for S&P/Case-Shiller MI-Detroit Home Price Index (DEXRSA) from Jan 1991 to Aug 2020 about Detroit, MI, HPI, housing, price index, price…