Madison Heights, MI—48071
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Madison Heights, MI
As of Oct '25, the median home price in Madison Heights, MI is $217,000, with a year-over-year change of 1.2%. This indicates that home prices in Madison Heights, MI are increasing. According to Zillow, the 1-year price projection is 0.8%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $217,000 | 1.2% |
| Single Family | $220,000 | 0.9% |
| Condos | $146,000 | 2.8% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $155,000 | 0.0% |
3 Bed | $228,000 | 0.9% |
4 Bed | $268,000 | 1.9% |
| 5 Bed | $279,000 | 3.3% |
% of Housing Stock
Rental Trends — Madison Heights, MI
As of July '25, Rentcast reports the average rent in Madison Heights, MI is $1,670, with a year-over-year rent change of 5.0%. Per bedroom, the median rent as of July '25 in Madison Heights, MI is studios: $1,950, 1-bedrooms: $1,050, 2-bedrooms: $1,670, 3-bedrooms: $1,860. The most common rental property sizes in Madison Heights, MI are 1-bedroom and 2-bedroom, accounting for 44.7% and 30.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,650 | $1,670 |
| Studio Rent | $1,950 | $1,950 |
| 1 Bed Rent | $1,040 | $1,050 |
| 2 Bed Rent | $1,400 | $1,670 |
| 3 Bed Rent | $1,850 | $1,860 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Madison Heights, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Madison Heights, MI is 23. This is a increase of 13.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 28.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $230,000 | 3.0% |
Listing Count | 87 | 18.0% |
| Listings as % of Homes | 0.1% | 18.0% |
Days on Market | 23 | 13.0% |
Demographics — Madison Heights, MI
As of the latest ACS Survey released in 2023, Madison Heights, MI has a population of 28,400, which has decreased by -6.0% over the past 5 years. Madison Heights, MI is a moderately popular place for families, as children make up 15.1% of the population. The area has a moderately educated workforce, with 32.1% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 16.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 28,400 | -6.0% |
% Under 18 | 15.1% | -18.4% |
% Seniors | 18.8% | 43.5% |
% WFH | 16.1% | 419.4% |
% w/ College Degree | 32.1% | 41.4% |
As of the latest ACS Survey released in 2023, Madison Heights, MI is a predominantly white area, with 79.3% of the population identifying as white. The white population has shrunk by 1.7% in the last 5 years. The second most common race or ethnicity in Madison Heights, MI is black, making up 7.4% of the population. Foreign-born residents account for 14.2% of the population in Madison Heights, MI, and this percentage has decreased by 14.5% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 79.3% | -1.7% |
% Black | 7.4% | -22.1% |
% Hispanic | 1.8% | -30.8% |
% Asian | 7.4% | 60.9% |
% Foreign Born | 14.2% | -14.5% |
Mortgage and Risk — Madison Heights, MI
According to HUD data as of 2023, there were 477 mortgage originations in Madison Heights, MI, of which 88.0% of loans were conventional mortgages. The average loan-to-value was 68.0%, with 35.0% above 90% LTV (very high). This implies large mortgage risk in Madison Heights, MI. Investor activity is low, as 4.0% of loans were by investors. 17.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 477 |
% Conventional Loans | 88.0% |
% Government Loans | 12.0% |
% Investor Loans | 4.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 17.0% |
Loan Activity
Rentals and Section 8 — Madison Heights, MI
Madison Heights, MI lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 630 |
Total Units Section 8 | 630 |
% Rentals under Section 8 | 12.7% |
% Occupied Section 8 | 95.4% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $40 | $1,040 | $1,080 |
| 2 Bedroom | -$30 | $1,400 | $1,370 |
| 3 Bedroom | -$170 | $1,850 | $1,680 |
| 4 Bedroom | N/A | N/A | $1,820 |
Affordability — Madison Heights, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.9 |
| Median Home Price | $217,000 |
| Median Household Income | $66,700 |