Ann Arbor, MI—48104
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 $552,000, with a year-over-year change of 4.5%. This indicates that home prices in Ann Arbor, MI are increasing. According to Zillow, the 1-year price projection is 0.2%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $552,000 | 4.5% |
| Single Family | $630,000 | 4.8% |
| Condos | $277,000 | 1.5% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $288,000 | 2.9% |
2 Bed | $306,000 | 2.7% |
3 Bed | $500,000 | 4.4% |
4 Bed | $751,000 | 4.0% |
| 5 Bed | $865,000 | 3.7% |
% of Housing Stock
Rental Trends — Ann Arbor, MI
As of July '25, Rentcast reports the average rent in Ann Arbor, MI is $2,670, with a year-over-year rent change of 9.9%. Per bedroom, the median rent as of July '25 in Ann Arbor, MI is studios: $1,470, 1-bedrooms: $1,620, 2-bedrooms: $2,410, 3-bedrooms: $3,230, 4-bedrooms: $4,450. The most common rental property sizes in Ann Arbor, MI are 2-bedroom and 1-bedroom, accounting for 28.2% and 25.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,100 | $2,670 |
| Studio Rent | $1,500 | $1,470 |
| 1 Bed Rent | $1,640 | $1,620 |
| 2 Bed Rent | $2,350 | $2,410 |
| 3 Bed Rent | $3,300 | $3,230 |
| 4 Bed Rent | $4,470 | $4,450 |
% 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 48. This is a increase of 25.0% 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 17.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $484,000 | -22.0% |
Listing Count | 116 | 14.0% |
| Listings as % of Homes | 0.3% | 14.0% |
Days on Market | 48 | 25.0% |
Demographics — Ann Arbor, MI
As of the latest ACS Survey released in 2023, Ann Arbor, MI has a population of 43,800, which has increased by 1.2% over the past 5 years. Ann Arbor, MI is a less popular place for families, as children make up 7.8% of the population. The area has a highly educated workforce, with 81.5% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 25.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 43,800 | 1.2% |
% Under 18 | 7.8% | -8.2% |
% Seniors | 8.8% | 3.5% |
% WFH | 25.1% | 209.9% |
% w/ College Degree | 81.5% | 1.4% |
As of the latest ACS Survey released in 2023, Ann Arbor, MI is a predominantly white area, with 73.9% of the population identifying as white. The white population has shrunk by 0.7% in the last 5 years. The second most common race or ethnicity in Ann Arbor, MI is asian, making up 12.6% of the population. Foreign-born residents account for 13.2% of the population in Ann Arbor, MI, and this percentage has increased by 2.3% 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 | 73.9% | -0.7% |
% Black | 4.7% | 4.4% |
% Hispanic | 4.6% | 9.5% |
% Asian | 12.6% | -6.7% |
% Foreign Born | 13.2% | 2.3% |
Mortgage and Risk — Ann Arbor, MI
According to HUD data as of 2023, there were 351 mortgage originations in Ann Arbor, MI, of which 96.0% of loans were conventional mortgages. The average loan-to-value was 58.0%, with 12.0% above 90% LTV (elevated). This implies medium mortgage risk in Ann Arbor, MI. Investor activity is low, as 6.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 351 |
% Conventional Loans | 96.0% |
% Government Loans | 4.0% |
% Investor Loans | 6.0% |
% Second Loans | 3.0% |
% Cash Out Refinance | 7.0% |
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 2.9%. 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. In Ann Arbor, MI, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 304 |
Total Units Section 8 | 304 |
% Rentals under Section 8 | 2.9% |
% Occupied Section 8 | 84.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$50 | $1,640 | $1,590 |
| 2 Bedroom | -$450 | $2,350 | $1,900 |
| 3 Bedroom | -$1,010 | $3,300 | $2,290 |
| 4 Bedroom | -$1,950 | $4,470 | $2,520 |
Affordability — Ann Arbor, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 7.7 |
| Median Home Price | $552,000 |
| Median Household Income | $63,300 |