Cities with the fastest-growing home prices in the Detroit metro area
Cities with the fastest-growing home prices in the Detroit metro area
The real estate frenzy spurred by the coronavirus pandemic continues, though at a slower pace. Buyers are still competing for a limited supply of housing, driving up prices for affordable properties.
In March, the typical home value in the United States was $355,696, 4.6% higher than the previous year.
Increasing mortgage rates have slowed growth, with prices even declining in some places. But some areas are still seeing price jumps compared to the year before.
Stacker compiled a list of cities with the fastest-growing home prices in the Detroit metro area using Zillow data. Cities are ranked by their one-year price change as of March 2024.
#30. Grosse Pointe Park, MI
- 5-year price change: +$104,913 (+30.0%)
- Typical home value: $454,588 (#14 most expensive city in metro)
#29. Wixom, MI
- 5-year price change: +$99,002 (+38.0%)
- Typical home value: $359,273 (#50 most expensive city in metro)
#28. South Lyon, MI
- 5-year price change: +$112,513 (+33.7%)
- Typical home value: $446,682 (#16 most expensive city in metro)
#27. Canton, MI
- 5-year price change: +$101,348 (+36.9%)
- Typical home value: $375,746 (#36 most expensive city in metro)
#26. Romeo, MI
- 5-year price change: +$115,349 (+43.7%)
- Typical home value: $379,275 (#33 most expensive city in metro)
#25. Goodells, MI
- 5-year price change: +$105,691 (+53.8%)
- Typical home value: $302,118 (#66 most expensive city in metro)
#24. Sylvan Lake, MI
- 5-year price change: +$97,290 (+38.6%)
- Typical home value: $349,348 (#53 most expensive city in metro)
#23. Bingham Farms, MI
- 5-year price change: +$117,195 (+26.8%)
- Typical home value: $554,596 (#8 most expensive city in metro)
#22. Casco, MI
- 5-year price change: +$106,712 (+43.0%)
- Typical home value: $354,717 (#52 most expensive city in metro)
#21. Columbus, MI
- 5-year price change: +$79,928 (+30.5%)
- Typical home value: $342,313 (#54 most expensive city in metro)
#20. Milford, MI
- 5-year price change: +$115,314 (+35.6%)
- Typical home value: $439,293 (#19 most expensive city in metro)
#19. Dryden, MI
- 5-year price change: +$139,239 (+59.6%)
- Typical home value: $372,996 (#41 most expensive city in metro)
#18. Brandon, MI
- 5-year price change: +$108,492 (+37.5%)
- Typical home value: $397,990 (#28 most expensive city in metro)
#17. Farmington Hills, MI
- 5-year price change: +$101,279 (+38.8%)
- Typical home value: $362,282 (#45 most expensive city in metro)
#16. Royal Oak, MI
- 5-year price change: +$76,758 (+31.9%)
- Typical home value: $317,066 (#62 most expensive city in metro)
#15. Plymouth, MI
- 5-year price change: +$103,274 (+31.2%)
- Typical home value: $433,894 (#20 most expensive city in metro)
#14. Novi, MI
- 5-year price change: +$109,353 (+33.0%)
- Typical home value: $440,312 (#18 most expensive city in metro)
#13. Rochester, MI
- 5-year price change: +$107,181 (+31.6%)
- Typical home value: $446,556 (#17 most expensive city in metro)
#12. New Hudson, MI
- 5-year price change: +$113,833 (+36.6%)
- Typical home value: $424,993 (#23 most expensive city in metro)
#11. Franklin, MI
- 5-year price change: +$209,793 (+36.6%)
- Typical home value: $783,218 (#3 most expensive city in metro)
#10. Ray, MI
- 5-year price change: +$124,681 (+49.5%)
- Typical home value: $376,508 (#35 most expensive city in metro)
#9. Pleasant Ridge, MI
- 5-year price change: +$109,352 (+32.2%)
- Typical home value: $448,722 (#15 most expensive city in metro)
#8. Oakland, MI
- 5-year price change: +$153,196 (+34.6%)
- Typical home value: $595,455 (#6 most expensive city in metro)
#7. Huntington Woods, MI
- 5-year price change: +$104,820 (+27.9%)
- Typical home value: $480,049 (#11 most expensive city in metro)
#6. Beverly Hills, MI
- 5-year price change: +$134,924 (+35.0%)
- Typical home value: $520,781 (#10 most expensive city in metro)
#5. Rochester Hills, MI
- 5-year price change: +$125,354 (+40.7%)
- Typical home value: $433,294 (#21 most expensive city in metro)
#4. Troy, MI
- 5-year price change: +$114,570 (+37.2%)
- Typical home value: $422,815 (#24 most expensive city in metro)
#3. Birmingham, MI
- 5-year price change: +$135,495 (+27.3%)
- Typical home value: $631,017 (#5 most expensive city in metro)
#2. Bloomfield Hills, MI
- 5-year price change: +$151,991 (+34.5%)
- Typical home value: $592,916 (#7 most expensive city in metro)
#1. Lake Angelus, MI
- 5-year price change: +$466,859 (+43.0%)
- Typical home value: $1,553,320 (#1 most expensive city in metro)
This story features data reporting and writing by Elena Cox and is part of a series utilizing data automation across 380 metros.