Explore Detroit
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Why Live in Detroit
Detroit's cultural landscape features the renowned Detroit Institute of Arts, housing an encyclopedic collection, and the historic Motown Museum where legendary artists recorded timeless hits. The 982-acre Belle Isle Park includes the Anna Scripps Whitcomb Conservatory and aquarium, while the Henry Ford Museum showcases American innovation through iconic artifacts. The food scene has evolved with standout restaurants like Selden Standard, known for New American cuisine from locally sourced ingredients, and Marrow, an upscale bistro focusing on ethically sourced meats.
The housing market presents diverse options across distinct neighborhoods. Indian Village commands the highest median single family home price at $500,000, while Palmer Woods follows at $754,000. More moderate options exist in Rosedale Park, where the median single family home price is $237,000. Citywide, the median sale price sits at $92,000, with median townhome prices at $412,500. One-bedroom condos have a median price of $149,900, while two-bedroom condos reach $264,900.
Detroit's cost of living measures 2.9% above the national average. A married couple with children needs approximately $109,000 annually to live comfortably, while renters should aim for $58,000. The property tax rate in Wayne County is 1.64%, slightly higher than nearby Ann Arbor at 1.56%. Michigan maintains a 4.25% state income tax rate, with Detroit residents paying an additional 2.4% local income tax.
The city maintains strong educational options, including University Liggett School and Detroit Waldorf School, both highly rated private institutions. Wayne State University and the University of Detroit Mercy provide higher education opportunities. Public transportation includes the DDOT bus system and the QLine streetcar along Woodward Avenue. The city experiences four distinct seasons, with summer highs reaching the low 80s Fahrenheit and regular snowfall during winter months.
Home Prices in Detroit, MI
The median home sale price in Detroit, MI is $97,000, up 7% year-over-year. Homes in Detroit sell in 61 days on average, compared to the national average of 58 days.
Home Price Trends
|
Median Sale Price
$97,000
|
Median Single Family Sale Price
$95,000
|
|
Median Townhouse Sale Price
$406,495
|
Median 2 Bedroom Sale Price
$71,000
|
|
Median 1 Bedroom Sale Price
$128,500
|
Average Price Per Sq Ft
$97
|
|
Number of Homes for Sale
2,707
|
Last 12 months Home Sales
4,887
|
|
Months of Supply
6.60
|
Median List Price
$110,000
|
|
Median Change From 1st List Price
6%
|
Median Home Sale Price YoY Change
7%
|
Popular Home Searches in Detroit, MI
Detroit homebuyers often seek architectural charm, space for growing households, and features that suit both the city’s history and changing seasons.
- Love historic design? Explore Victorian homes or craftsman style properties in neighborhoods like Boston-Edison or Indian Village.
- Need space for work or hobbies? Check out homes with basements or attached garages for added flexibility.
- Looking to stay comfortable year-round? Browse listings with air conditioning or cozy fireplaces for cold winters.
- Enjoy outdoor time at home? Look for properties with a porch or yard for relaxing or gardening.
- Prefer something modern? Consider new construction or stylish modern homes in up-and-coming neighborhoods.
Detroit Types of Homes for Sale
Detroit Real Estate Listings
More About Living in Detroit
Popular Searches in Detroit
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