Wayne County Home Prices & Values

$59,700 Zillow Home Value Index What's This?  
Close

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

  • 13.5% 1-year change
  • 4.4% 1-year forecast

The median home value in Wayne County is $59,700. Wayne County home values have gone up 13.5% over the past year and Zillow predicts they will rise 4.4% within the next year. The median list price per square foot in Wayne County is $56, which is lower than the Detroit Metro average of $103. The median price of homes currently listed in Wayne County is $69,400 while the median price of homes that sold is $105,400. The median rent price in Wayne County is $800, which is lower than the Detroit Metro median of $850.

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 Wayne County is 5.3%, which is lower than the national value of 7.2%. 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 Wayne County homeowners underwater on their mortgage is 35.7%, which is higher than Detroit Metro at 26.5%.

more
Relative ZHVI
- +

Wayne County Market Overview

Data through Jun 30, 2014
  • $59,700 ZHVI
  • 4.4% 1-yr forecast What's This?  
    Close

    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more

    (Jun 30, 2015)
  • $69,400 Median listing price
  • $105,400 Median sale price
Your browser doesn't seem to support SVG, this chart cannot be displayed.
View Data Table
Compare to:

We are currently unable to retrieve data matching your current criteria.

loading

Wayne County Market Health

Data through Jun 30, 2014
  • 6.3/10 Healthy What's This?  
    Close

    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.

  • 99 Average of days on Zillow (May 31, 2014)
  • 35.7% Homes with negative equity (18.8% US Avg) (Mar 31, 2014)
  • 5.3% Delinquent on mortgage (7.2% US Avg) (Mar 31, 2014)
Your browser doesn't seem to support SVG, this chart cannot be displayed.
View Data Table
Compare to:

We are currently unable to retrieve data matching your current criteria.

loading

Cities in Wayne County

Name Median ZHVI Name Median ZHVI Name Median ZHVI
Dearborn $101,200 Allen Park $94,800 Westland $93,800
Dearborn Heights $80,300 Garden City $79,700 Taylor $64,400
Wayne $59,700 Melvindale $42,900 Inkster $41,400

Listings & Sales

Data through Jun 30, 2014
  • $56 Median list price / sq ft
  • $83 Median sale price / sq ft
  • 29.0% Listings with price cut
21.9%
Sold below listing
Your browser doesn't seem to support SVG, this chart cannot be displayed.
View Data Table
Compare to:

We are currently unable to retrieve data matching your current criteria.

loading

Wayne County Rentals

Data through Jun 30, 2014
Zillow Rent Index What's This?
Close The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more
$797 Wayne County
$1,059 Detroit Metro
$1,310 United States
  • 1.0 Breakeven horizon What's This?  
    Close

    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more

    (Jun 30, 2013)
  • $800 Rent list price
  • $0.82 Rent list price / sq ft
Your browser doesn't seem to support SVG, this chart cannot be displayed.
View Data Table
Compare to:

We are currently unable to retrieve data matching your current criteria.

loading