Cities with the most expensive homes in the Detroit metro area
Cities with the most expensive homes in the Detroit metro area
Purchasing a home is one of the most important investments there is. More than a place to live, homeownership is an asset with the potential to tremendously rise in value. But with home prices reaching record heights, affordability plays a huge role for buyers.
The typical home value in the United States was $355,696 in March, 4.6% higher than the year before.
High mortgage rates are also making monthly payments more expensive; as of May 2, the 30-year fixed mortgage rate sits at 7.22%.Although home prices have inflated all across the U.S., there are some cities that command a higher price tag than others. Location, size, age, and condition are all contributing factors to home value.
Stacker compiled a list of cities with the most expensive homes in the Detroit metro area using data from Zillow. Charts show the monthly typical home value since January 2018. Data was available for 150 cities and towns.
#30. Macomb, MI
- Typical home value: $390,944
- 1-year price change: +3.8%
- 5-year price change: +38.0%
#29. Clarkston, MI
- Typical home value: $396,267
- 1-year price change: +5.0%
- 5-year price change: +36.7%
#28. Brandon, MI
- Typical home value: $397,990
- 1-year price change: +5.9%
- 5-year price change: +37.5%
#27. Brighton, MI
- Typical home value: $408,385
- 1-year price change: +4.2%
- 5-year price change: +38.8%
#26. West Bloomfield, MI
- Typical home value: $419,945
- 1-year price change: +5.0%
- 5-year price change: +35.6%
#25. Grosse Pointe, MI
- Typical home value: $421,333
- 1-year price change: +2.8%
- 5-year price change: +28.2%
#24. Troy, MI
- Typical home value: $422,815
- 1-year price change: +7.9%
- 5-year price change: +37.2%
#23. New Hudson, MI
- Typical home value: $424,993
- 1-year price change: +6.5%
- 5-year price change: +36.6%
#22. Washington, MI
- Typical home value: $429,000
- 1-year price change: +3.1%
- 5-year price change: +35.2%
#21. Rochester Hills, MI
- Typical home value: $433,294
- 1-year price change: +7.3%
- 5-year price change: +40.7%
#20. Plymouth, MI
- Typical home value: $433,894
- 1-year price change: +5.6%
- 5-year price change: +31.2%
#19. Milford, MI
- Typical home value: $439,293
- 1-year price change: +5.3%
- 5-year price change: +35.6%
#18. Novi, MI
- Typical home value: $440,312
- 1-year price change: +5.7%
- 5-year price change: +33.0%
#17. Rochester, MI
- Typical home value: $446,556
- 1-year price change: +6.0%
- 5-year price change: +31.6%
#16. South Lyon, MI
- Typical home value: $446,682
- 1-year price change: +4.8%
- 5-year price change: +33.7%
#15. Pleasant Ridge, MI
- Typical home value: $448,722
- 1-year price change: +6.4%
- 5-year price change: +32.2%
#14. Grosse Pointe Park, MI
- Typical home value: $454,588
- 1-year price change: +4.6%
- 5-year price change: +30.0%
#13. Grosse Pointe Farms, MI
- Typical home value: $455,402
- 1-year price change: +4.1%
- 5-year price change: +28.9%
#12. Leonard, MI
- Typical home value: $461,409
- 1-year price change: +4.1%
- 5-year price change: +36.6%
#11. Huntington Woods, MI
- Typical home value: $480,049
- 1-year price change: +6.4%
- 5-year price change: +27.9%
#10. Beverly Hills, MI
- Typical home value: $520,781
- 1-year price change: +5.9%
- 5-year price change: +35.0%
#9. Northville, MI
- Typical home value: $529,941
- 1-year price change: +2.9%
- 5-year price change: +28.1%
#8. Bingham Farms, MI
- Typical home value: $554,596
- 1-year price change: +4.1%
- 5-year price change: +26.8%
#7. Bloomfield Hills, MI
- Typical home value: $592,916
- 1-year price change: +6.3%
- 5-year price change: +34.5%
#6. Oakland, MI
- Typical home value: $595,455
- 1-year price change: +4.9%
- 5-year price change: +34.6%
#5. Birmingham, MI
- Typical home value: $631,017
- 1-year price change: +5.4%
- 5-year price change: +27.3%
#4. Grosse Pointe Shores, MI
- Typical home value: $672,536
- 1-year price change: +2.7%
- 5-year price change: +29.0%
#3. Franklin, MI
- Typical home value: $783,218
- 1-year price change: +3.5%
- 5-year price change: +36.6%
#2. Orchard Lake, MI
- Typical home value: $882,083
- 1-year price change: +2.3%
- 5-year price change: +35.1%
#1. Lake Angelus, MI
- Typical home value: $1,553,320
- 1-year price change: +4.4%
- 5-year price change: +43.0%
This story features data reporting and writing by Elena Cox and is part of a series utilizing data automation across 379 metros.
