Ann Arbor, MI—48108
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 $430,000, with a year-over-year change of 2.7%. 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 | $430,000 | 2.7% |
| Single Family | $483,000 | 3.0% |
| Condos | $311,000 | 2.6% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $281,000 | 2.2% |
3 Bed | $380,000 | 2.7% |
4 Bed | $596,000 | 4.2% |
| 5 Bed | $761,000 | 1.2% |
% of Housing Stock
Rental Trends — Ann Arbor, MI
As of July '25, Rentcast reports the average rent in Ann Arbor, MI is $2,320, with a year-over-year rent change of 2.2%. Per bedroom, the median rent as of July '25 in Ann Arbor, MI is studios: $1,780, 1-bedrooms: $1,170, 2-bedrooms: $2,060, 3-bedrooms: $2,560, 4-bedrooms: $3,310. The most common rental property sizes in Ann Arbor, MI are 2-bedroom and 1-bedroom, accounting for 52.2% and 26.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,200 | $2,320 |
| Studio Rent | $2,120 | $1,780 |
| 1 Bed Rent | $1,220 | $1,170 |
| 2 Bed Rent | $2,000 | $2,060 |
| 3 Bed Rent | $2,400 | $2,560 |
| 4 Bed Rent | $3,200 | $3,310 |
% 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 40. This is a increase of 1.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 31.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $429,000 | -7.0% |
Listing Count | 85 | 20.0% |
| Listings as % of Homes | 0.3% | 20.0% |
Days on Market | 40 | 1.0% |
Demographics — Ann Arbor, MI
As of the latest ACS Survey released in 2023, Ann Arbor, MI has a population of 27,500, which has increased by 4.9% over the past 5 years. Ann Arbor, MI is a moderately popular place for families, as children make up 20.0% of the population. The area has a highly educated workforce, with 64.6% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 21.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 27,500 | 4.9% |
% Under 18 | 20.0% | 2.6% |
% Seniors | 15.1% | 18.9% |
% WFH | 21.1% | 234.9% |
% w/ College Degree | 64.6% | 8.0% |
As of the latest ACS Survey released in 2023, Ann Arbor, MI is a predominantly white area, with 57.7% of the population identifying as white. The white population has shrunk by 5.6% in the last 5 years. The second most common race or ethnicity in Ann Arbor, MI is black, making up 16.2% of the population. Foreign-born residents account for 23.1% of the population in Ann Arbor, MI, and this percentage has increased by 0.4% 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 | 57.7% | -5.6% |
% Black | 16.2% | 23.7% |
% Hispanic | 6.1% | 48.8% |
% Asian | 14.3% | -10.6% |
% Foreign Born | 23.1% | 0.4% |
Mortgage and Risk — Ann Arbor, MI
According to HUD data as of 2023, there were 315 mortgage originations in Ann Arbor, MI, of which 97.0% of loans were conventional mortgages. The average loan-to-value was 61.0%, with 19.0% 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. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 315 |
% Conventional Loans | 97.0% |
% Government Loans | 3.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 9.0% |
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 8.4%. 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 | 461 |
Total Units Section 8 | 459 |
% Rentals under Section 8 | 8.4% |
% Occupied Section 8 | 86.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $30 | $1,220 | $1,250 |
| 2 Bedroom | -$510 | $2,000 | $1,490 |
| 3 Bedroom | -$600 | $2,400 | $1,800 |
| 4 Bedroom | -$1,220 | $3,200 | $1,980 |
Affordability — Ann Arbor, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.8 |
| Median Home Price | $430,000 |
| Median Household Income | $80,400 |