Detroit - MI housing market
The Detroit metro has a typical home value of $264,316, up 1.8% from a year ago. Homes are moving fast at 15 days on market, a strong seller's market. 29% of listings have had a price cut. Data from Zillow Research, updated monthly.
Detroit housing market, October 2026
The typical Detroit home is worth $264,316 as of September 2026, up 0.1% from the prior month, up 0.3% over three months, and up 1.8% from a year ago. Over the past two years values have ranged from $251,225 to $264,316.
Homes are going pending in about 15 days, slower than the 10 days seen three months earlier. There are roughly 16,337 homes for sale, 10% more than a year ago. 29.4% of listings have taken a price cut (up from 23.8% three months ago).
Typical rent is $1,514 a month, up 4.3% year over year, which puts the price-to-rent ratio at 14.6.
At this week's 7.40% mortgage rate with 20% down ($52,863), the typical Detroit home costs about $1,794 a month including tax and insurance, which needs a household income of roughly $76,900 to stay under a 28% payment-to-income ratio.
Income needed to buy assumes 20% down, a 30-year fixed mortgage at 7.4% (Freddie Mac weekly average), property tax at 1.1% and insurance at 0.4% of value per year, and a 28% payment-to-income cap. Local taxes and insurance vary; treat it as a comparison figure across metros, not a lender's answer. All metros ranked →
How to read this data
The typical home value ($264,316) is the Zillow Home Value Index for the Detroit - MI metro area: a smoothed, seasonally adjusted estimate of the typical value for middle-tier homes (33rd to 67th percentile) across single-family and condo properties.
Prices are up 1.8% over the past year. In Detroit - MI, that means a home worth $259,642 last year is now worth roughly $264,316.
The median sale price, what homes actually close for, is $273,180. Homes are selling at 99.5% of list price, meaning buyers have room to negotiate.
Homes listed in Detroit - MI sit on the market for roughly 15 days before going pending. Shorter = seller's market; longer = buyer's market.
About 29.4% of current listings have had at least one price cut. High price-cut shares signal sellers are adjusting expectations downward.
Roughly 5,625 new listings hit the market each month in Detroit - MI. There are currently 16,337 homes for sale, up 10.3% from a year ago.
The typical monthly rent in Detroit - MI is $1,514, up 4.3% year over year. On the Rent vs Buy Index that is a price-to-rent ratio of 14.5x, buying territory (#155 of 195 metros). The mortgage on a typical home here, 20% down at today's 7.4% 30-year rate, runs about $1,464 a month in principal and interest, $50 less than renting before taxes, insurance and upkeep. The two break even at a 7.74% rate.
What's not on this page
This is market-level data, not property-level. We don't list individual homes for sale. For that, go to Zillow, Redfin, or your local MLS.
Data: Zillow Research (ZHVI and market indicators), refreshed monthly at the source. This page was rebuilt October 2026. Methodology →
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Other metros in MI
| Metro | Home value | 1-yr change | Days on market |
|---|---|---|---|
| Grand Rapids - MI | $355,636 | +4.9% | 10.0d |
| Lansing - MI | $246,267 | +3.6% | 13.0d |
| Flint - MI | $195,732 | +4.1% | 14.0d |
| Ann Arbor - MI | $411,985 | +2.4% | 17.0d |
| Kalamazoo - MI | $274,078 | +4.4% | 15.0d |