Dearborn, MI—48120
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Dearborn, MI
As of Oct '25, the median home price in Dearborn, MI is $245,000, with a year-over-year change of 8.2%. This indicates that home prices in Dearborn, MI are increasing. According to Zillow, the 1-year price projection is 1.8%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $245,000 | 8.2% |
| Single Family | $226,000 | 9.7% |
| Condos | $287,000 | 6.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $218,000 | 8.5% |
3 Bed | $283,000 | 7.6% |
4 Bed | $246,000 | 9.3% |
| 5 Bed | $206,000 | 10.8% |
% of Housing Stock
Rental Trends — Dearborn, MI
As of July '25, Rentcast reports the average rent in Dearborn, MI is $1,890, with a year-over-year rent change of -25.0%. Per bedroom, the median rent as of July '25 in Dearborn, MI is 1-bedrooms: $1,360, 2-bedrooms: $1,800, 3-bedrooms: $2,520. The most common rental property sizes in Dearborn, MI are 2-bedroom and 3-bedroom, accounting for 47.8% and 20.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,700 | $1,890 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,320 | $1,360 |
| 2 Bed Rent | $1,700 | $1,800 |
| 3 Bed Rent | $2,200 | $2,520 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Dearborn, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Dearborn, MI is 43. This is a increase of 58.0% 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 22.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $325,000 | -1.0% |
Listing Count | 9 | 8.0% |
| Listings as % of Homes | 0.2% | 8.0% |
Days on Market | 43 | 58.0% |
Demographics — Dearborn, MI
As of the latest ACS Survey released in 2023, Dearborn, MI has a population of 8,770, which has increased by 19.3% over the past 5 years. Dearborn, MI is a popular place for families, as children make up 31.8% of the population. The area has a moderately educated workforce, with 37.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 14.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 8,770 | 19.3% |
% Under 18 | 31.8% | 7.8% |
% Seniors | 12.4% | -16.8% |
% WFH | 14.7% | 1,370.0% |
% w/ College Degree | 37.2% | 31.0% |
As of the latest ACS Survey released in 2023, Dearborn, MI is a predominantly white area, with 75.6% of the population identifying as white. The white population has shrunk by 3.1% in the last 5 years. The second most common race or ethnicity in Dearborn, MI is asian, making up 6.2% of the population. Foreign-born residents account for 40.7% of the population in Dearborn, MI, and this percentage has increased by 0.5% 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 | 75.6% | -3.1% |
% Black | 2.6% | -71.1% |
% Hispanic | 3.8% | 375.0% |
% Asian | 6.2% | -7.5% |
% Foreign Born | 40.7% | 0.5% |
Mortgage and Risk — Dearborn, MI
According to HUD data as of 2023, there were 40 mortgage originations in Dearborn, MI, of which 88.0% of loans were conventional mortgages. The average loan-to-value was 59.0%, with 30.0% above 90% LTV (very high). This implies large mortgage risk in Dearborn, MI. Investor activity is low, as 0.0% 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 | 40 |
% Conventional Loans | 88.0% |
% Government Loans | 12.0% |
% Investor Loans | 0.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Dearborn, MI
Dearborn, MI lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 147 |
Total Units Section 8 | 148 |
% Rentals under Section 8 | 9.3% |
% Occupied Section 8 | 90.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $100 | $1,320 | $1,420 |
| 2 Bedroom | $90 | $1,700 | $1,790 |
| 3 Bedroom | -$10 | $2,200 | $2,190 |
| 4 Bedroom | N/A | N/A | $2,370 |
Affordability — Dearborn, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3 |
| Median Home Price | $245,000 |
| Median Household Income | $66,700 |