Home Values

Wayne County 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

$55,600

  • -2.5% 1-year change
  • -0.1% 1-year forecast

The median home value in Wayne County is $55,600. Wayne County home values have declined -2.5% over the past year and Zillow predicts they will fall -0.1% within the next year. The median rent price in Wayne County is $800, which is lower than the Detroit Metro median of $950.

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 4.7%, 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 Wayne County homeowners underwater on their mortgage is 27.7%, which is higher than Detroit Metro at 19.4%.

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Relative ZHVI
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Wayne County Market Overview

Data through Jun 30, 2015
  • $55,600 ZHVI
  • -0.1% 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
    (Jun 30, 2016)
  • No data Median listing price
  • $124,700 Median sale price
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Wayne County Market Health

Data through Jun 30, 2015
  • 0.6/10 Less healthy
    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.
  • 92 Average days on Zillow (May 31, 2015)
  • 27.7% Homes with negative equity (15.4% US Avg) (Mar 31, 2015)
  • 4.7% Delinquent on mortgage (6.0% US Avg) (Mar 31, 2015)
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Cities in Wayne County

Name Median ZHVI
Dearborn $96,400
Allen Park $90,300
Westland $89,100
Name Median ZHVI
Dearborn Heights $77,900
Garden City $77,700
Taylor $61,600
Name Median ZHVI
Wayne $58,000
Melvindale $43,600
Inkster $40,400

Listings & Sales

Data through Jun 30, 2015
  • No recent data Median list price / sq ft
  • $96 Median sale price / sq ft
  • No data Listings with price cut
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Wayne County Rentals

Data through Jun 30, 2015
  • Zillow Rent Index

  • $814 Wayne County
    $1,119 Detroit Metro
    $1,369 United States

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

  • 1.1 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Mar 31, 2015)
  • $800 Rent list price
  • $0.84 Rent list price / sq ft
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