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
None
- None 1-year change
- None 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
The median list price per square foot in Detroit is $38, which is lower than the Detroit-Warren-Dearborn Metro average of $130. The median rent price in Detroit is $800, which is lower than the Detroit-Warren-Dearborn Metro median of $1,100.
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 1.7%, which is higher than the national value of 1.1%. 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 34.4%, which is higher than Detroit-Warren-Dearborn Metro at 9.1%.
Read moreRelative ZHVI
- +Detroit Market Overview
- No data
Detroit Market Health
Data through Dec 31, 2018
- 104 Average days on Zillow
- 34.4% Homes with negative equity (8.2% US Avg) (Jun 30, 2018)
- 1.7% Delinquent on mortgage (1.1% US Avg) (Jun 30, 2018)
Neighborhoods in Detroit
| Name | Median ZHVI |
|---|---|
| NW Goldberg | $75,700 |
| Virginia Park | $53,200 |
Listings & Sales
Data through Jan 31, 2019
- $38 Median list price / sq ft
- No recent data Median sale price / sq ft
- 13.9% Listings with price cut
Detroit Rentals
Data through Jan 31, 2019
Zillow Rent Index
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The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more
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0.3
Breakeven horizon
The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more(Mar 31, 2018)
- $800 Rent list price
- $0.85 Rent list price / sq ft
