In short
The median value of owner-occupied homes is $254,200 in Michigan and $95,900 in the city of Detroit, against $360,600 nationwide (Census ACS 2024). On the FHFA index, Michigan prices up 3.8% and Detroit–Dearborn–Livonia prices up 4.9% from Q2 2025 to Q2 2026.
What it costs: median value in 2024
| Area | Median value, 2024 | Margin of error (90%) |
|---|---|---|
| United States | $360,600 | ±$618 |
| Michigan | $254,200 | ±$1,616 |
| Detroit–Warren–Dearborn metro area | $271,600 | ±$2,503 |
| Wayne County | $194,800 | ±$3,464 |
| City of Detroit | $95,900 | ±$7,548 |
Source: Census ACS 2024, table B25077; owners’ own estimates, not sale prices.
Three points stand out:
- The Michigan median is $106,400 below the national median.
- The city of Detroit is $158,300 below the Michigan median and $175,700 below the Detroit metro median. Homes in the city are valued at about 38% of the statewide median, while the suburbs pull the metro figure up.
- The margin of error for the city of Detroit (±$7,548) is much wider, in relative terms, than for the state, because the sample is smaller. The true city median is very likely between about $88,350 and $103,450.
How prices have moved: the FHFA index
It is also the first release with purchase-only indexes for the divisions of 13 large metro areas. For Detroit we use the Detroit–Dearborn–Livonia division.
| Area | 1-year change (Q2 2025 to Q2 2026) | 5-year change (Q2 2021 to Q2 2026) |
|---|---|---|
| United States | +2.1% | +33.4% |
| Michigan | +3.8% | +38.8% |
| Detroit–Dearborn–Livonia metro division | +4.9% | +39.7% |
Source: FHFA HPI, purchase-only, Q2 2026 (release of August 25, 2026); changes by Payotte.
Michigan prices rose faster than the national index, both over one year and over five years. FHFA’s release also reports that the East North Central census division, which includes Michigan, had the strongest annual appreciation of the nine divisions, at 4.5%.
A worked example
Take a Detroit-area home worth $100,000 in the second quarter of 2021. Tracking the Detroit–Dearborn–Livonia index exactly, it would have been worth about $139,700 in the second quarter of 2026 (+39.7%). Over the last year alone, it would have gained about $6,500 (+4.9%). A single home can move very differently from the index: neighborhood, condition and renovations matter more than the average.
How to use these figures when buying
Related: Michigan closing costs guide, buying a home in Detroit and Michigan first-time buyer programs.
Method and dataset
ACS median value. ACS 1-Year 2024, table B25077. Geographies: United States (0100000US), Michigan (0400000US26), Detroit–Warren–Dearborn metro area (310M700US19820), Wayne County (0500000US26163), Detroit city (1600000US2622000). Read through the data.census.gov API on October 13, 2026.
FHFA index. FHFA HPI (purchase-only, seasonally adjusted), state series (Michigan), metro series (Detroit-Dearborn-Livonia, MI metro division, code 19804) and U.S. series. Index values used: Michigan 378.50 (Q2 2025), 283.05 (Q2 2021) and 392.88 (Q2 2026); Detroit–Dearborn–Livonia 341.17, 256.10 and 357.88; United States 426.58, 326.58 and 435.69.
Frequently asked questions
What is the median home value in Michigan?
Michigan’s 2024 ACS median home value is $254,200 (±$1,616), against $360,600 for the nation: owners’ own estimates, not sale prices.
What is the median home value in Detroit?
For the city of Detroit, the 2024 ACS median value is $95,900 (±$7,548). Wayne County is at $194,800 and the Detroit–Warren–Dearborn metro area at $271,600.
Are Michigan home prices going up or down?
FHFA’s purchase-only index shows Michigan prices rose 3.8% over the year to Q2 2026, and the Detroit–Dearborn–Livonia division rose 4.9%. Over five years, they rose 38.8% and 39.7%.
How Michigan compares with the other States
Michigan ranks 39th of 50 for median home value ($254,200), 30% below the national $360,600.
The States closest in median value are Missouri ($254,400) and Nebraska ($263,100). The range runs from $170,800 in West Virginia to $875,900 in Hawaii; Michigan is $85,300 below the middle of that ranking (Wyoming).
On the FHFA index, Michigan prices rose 3.8% over the year to the second quarter of 2026, which places the State 14th of 50, 1.7 points ahead of the national +2.1%. Over five years the gain is +38.8% (18th of 50; nation +33.4%).
The two measures diverge: Michigan is among the cheapest States by median value, yet its prices rose faster than most over the past year.
Over five years, Michigan's +38.8% annualises to +6.8% a year (nation +5.9%). The latest year (+3.8%) is 3 points under that average, a slower pace than the five-year average.
Detroit, the main city, has a median of $95,900, 49th of the 49 main cities Payotte covers. That is 62% below the Michigan median, a discount that ranks 49th of 49.
The one-year FHFA change runs from -1.2% in New Mexico to +8.3% in Alaska. Michigan (+3.8%) is 4.5 points below the top and 5 above the bottom; Missouri (+3.8%) and Pennsylvania (+3.9%) are the nearest to it.
For scale, 20% of the Michigan median is $50,840, against $72,120 at the national median.
Compare with the other states: Median home price by state.
More Michigan guides
- Closing costs in Michigan: what buyers and sellers pay
- Michigan transfer tax: $8.60 per $1,000, paid by the seller
- Michigan property tax: how it works and the 18-mill exemption
- Seller disclosure requirements in Michigan
- Do you need a real estate attorney to close in Michigan?
- How does foreclosure work in Michigan, and how long does it take?
- First-time home buyer programs in Michigan and Detroit
- How to verify a real estate license in Michigan (5 professions)
Sources
- Census Bureau, ACS 1-Year 2024, table B25077 (consulted October 13, 2026)
- Census Bureau, 2025 ACS release schedule (consulted October 13, 2026)
- FHFA news release, August 25, 2026 (consulted October 13, 2026)
- FHFA HPI datasets (quarterly, purchase-only) (consulted October 13, 2026)