Ann Arbor, MI—48103
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Ann Arbor, MI
As of Oct '25, the median home price in Ann Arbor, MI is $509,000, with a year-over-year change of 2.1%. This indicates that home prices in Ann Arbor, MI are increasing. According to Zillow, the 1-year price projection is 0.5%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $509,000 | 2.1% |
| Single Family | $531,000 | 2.3% |
| Condos | $381,000 | 0.8% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $232,000 | 0.4% |
2 Bed | $365,000 | 1.1% |
3 Bed | $476,000 | 1.7% |
4 Bed | $615,000 | 2.3% |
| 5 Bed | $781,000 | 2.1% |
% of Housing Stock
Rental Trends — Ann Arbor, MI
As of July '25, Rentcast reports the average rent in Ann Arbor, MI is $2,490, with a year-over-year rent change of -0.8%. Per bedroom, the median rent as of July '25 in Ann Arbor, MI is studios: $1,300, 1-bedrooms: $1,570, 2-bedrooms: $2,120, 3-bedrooms: $3,000, 4-bedrooms: $3,780. The most common rental property sizes in Ann Arbor, MI are 2-bedroom and 1-bedroom, accounting for 44.1% and 27.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,200 | $2,490 |
| Studio Rent | $1,200 | $1,300 |
| 1 Bed Rent | $1,500 | $1,570 |
| 2 Bed Rent | $2,000 | $2,120 |
| 3 Bed Rent | $2,800 | $3,000 |
| 4 Bed Rent | $3,700 | $3,780 |
% of Rental Stock
Property Listings — Ann Arbor, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Ann Arbor, MI is 47. This is a increase of 10.0% 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 19.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $549,000 | -1.0% |
Listing Count | 179 | 22.0% |
| Listings as % of Homes | 0.4% | 22.0% |
Days on Market | 47 | 10.0% |
Demographics — Ann Arbor, MI
As of the latest ACS Survey released in 2023, Ann Arbor, MI has a population of 54,600, which has decreased by -1.4% over the past 5 years. Ann Arbor, MI is a moderately popular place for families, as children make up 19.6% of the population. The area has a highly educated workforce, with 74.9% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 26.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 54,600 | -1.4% |
% Under 18 | 19.6% | -5.3% |
% Seniors | 18.4% | 14.3% |
% WFH | 26.1% | 243.4% |
% w/ College Degree | 74.9% | 0.7% |
As of the latest ACS Survey released in 2023, Ann Arbor, MI is a predominantly white area, with 70.5% of the population identifying as white. The white population has shrunk by 8.4% in the last 5 years. The second most common race or ethnicity in Ann Arbor, MI is asian, making up 10.0% of the population. Foreign-born residents account for 13.4% of the population in Ann Arbor, MI, and this percentage has increased by 3.1% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 70.5% | -8.4% |
% Black | 6.1% | 29.8% |
% Hispanic | 6.4% | 73.0% |
% Asian | 10.0% | 2.0% |
% Foreign Born | 13.4% | 3.1% |
Mortgage and Risk — Ann Arbor, MI
According to HUD data as of 2023, there were 944 mortgage originations in Ann Arbor, MI, of which 97.0% of loans were conventional mortgages. The average loan-to-value was 59.0%, with 14.0% above 90% LTV (elevated). This implies medium mortgage risk in Ann Arbor, MI. Investor activity is low, as 2.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 944 |
% Conventional Loans | 97.0% |
% Government Loans | 3.0% |
% Investor Loans | 2.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Ann Arbor, MI
As of 2024, the percent of homes in Ann Arbor, MI under the Section 8 program is 11.3%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom units appear to be good home sizes to consider for Section 8 housing in Ann Arbor, MI, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 1,047 |
Total Units Section 8 | 941 |
% Rentals under Section 8 | 11.3% |
% Occupied Section 8 | 84.7% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $150 | $1,500 | $1,650 |
| 2 Bedroom | -$30 | $2,000 | $1,970 |
| 3 Bedroom | -$430 | $2,800 | $2,370 |
| 4 Bedroom | -$1,090 | $3,700 | $2,610 |
Affordability — Ann Arbor, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.9 |
| Median Home Price | $509,000 |
| Median Household Income | $116,000 |