Home Values

Detroit Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$37,900

  • -7.8% 1-year change
  • -2.8% 1-year forecast

Market Temperature

Based on three metrics—sale-to-list price ratio, the prevalence of price cuts on home listings, and time-on-market—the market temperature provides information on the current balance of bargaining power between buyers and sellers in this city relative to other cities in the same metropolitan area. A particular city may be identified as a good market for buyers in a metro market favorable to sellers overall. Learn more

Warm

Buyers' Market
Sellers' Market

The median home value in Detroit is $37,900. Detroit home values have declined -7.8% over the past year and Zillow predicts they will fall -2.8% within the next year. The median list price per square foot in Detroit is None. The median rent price in Detroit is $750, which is lower than the Detroit Metro median of $945.

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Detroit is 5.8%, which is lower than the national value of 6.0%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Detroit homeowners underwater on their mortgage is 38.8%, which is higher than Detroit Metro at 19.4%.

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Relative ZHVI
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Detroit Market Overview

Data through May 31, 2015
  • $37,900 ZHVI
  • -2.8% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (May 31, 2016)
  • No data Median listing price
  • $31,405 Median sale price (Apr 30, 2015)
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Detroit Market Health

Data through May 31, 2015
  • No recent data Less healthy
  • No data Average days on Zillow
  • 38.8% Homes with negative equity (15.4% US Avg) (Mar 31, 2015)
  • 5.8% Delinquent on mortgage (6.0% US Avg) (Mar 31, 2015)
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Neighborhoods in Detroit

Name Median ZHVI
Woodbridge $72,700
LaSalle Gardens $62,600
Russell Woods $48,800
Name Median ZHVI
Virginia Park $47,600
NW Goldberg $47,500
Petosky-Otsego $44,500
Name Median ZHVI
Martin Park $43,100
Chaldean Town $37,400
Grixdale $32,600

Listings & Sales

Data through Apr 30, 2015
  • No recent data Median list price / sq ft
  • $26 Median sale price / sq ft
  • No data Listings with price cut
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Detroit Rentals

Data through May 31, 2015
  • Zillow Rent Index

  • $752 Detroit
    $1,123 Detroit Metro
    $1,367 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 0.7 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Dec 31, 2014)
  • $750 Rent list price
  • $0.76 Rent list price / sq ft
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