Dearborn, MI—48124
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 $230,000, with a year-over-year change of 6.6%. This indicates that home prices in Dearborn, MI are increasing. According to Zillow, the 1-year price projection is 1.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $230,000 | 6.6% |
| Single Family | $233,000 | 6.4% |
| Condos | $156,000 | 0.6% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $87,000 | -4.4% |
2 Bed | $167,000 | 5.7% |
3 Bed | $230,000 | 6.5% |
4 Bed | $359,000 | 6.2% |
| 5 Bed | $480,000 | 7.6% |
% of Housing Stock
Rental Trends — Dearborn, MI
As of July '25, Rentcast reports the average rent in Dearborn, MI is $1,830, with a year-over-year rent change of 6.4%. Per bedroom, the median rent as of July '25 in Dearborn, MI is studios: $1,390, 1-bedrooms: $1,200, 2-bedrooms: $1,590, 3-bedrooms: $2,070, 4-bedrooms: $2,200. The most common rental property sizes in Dearborn, MI are 3-bedroom and 1-bedroom, accounting for 45.1% and 25.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,800 | $1,830 |
| Studio Rent | $1,500 | $1,390 |
| 1 Bed Rent | $950 | $1,200 |
| 2 Bed Rent | $1,450 | $1,590 |
| 3 Bed Rent | $2,000 | $2,070 |
| 4 Bed Rent | $2,200 | $2,200 |
% 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 33. 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 18.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $255,000 | 4.0% |
Listing Count | 130 | 31.0% |
| Listings as % of Homes | 0.3% | 31.0% |
Days on Market | 33 | 13.0% |
Demographics — Dearborn, MI
As of the latest ACS Survey released in 2023, Dearborn, MI has a population of 34,200, which has increased by 18.2% over the past 5 years. Dearborn, MI is a moderately popular place for families, as children make up 23.8% of the population. The area has a moderately educated workforce, with 40.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 13.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 34,200 | 18.2% |
% Under 18 | 23.8% | 9.2% |
% Seniors | 17.4% | 7.4% |
% WFH | 13.5% | 513.6% |
% w/ College Degree | 40.3% | 10.4% |
As of the latest ACS Survey released in 2023, Dearborn, MI is a predominantly white area, with 83.7% of the population identifying as white. The white population has shrunk by 4.5% in the last 5 years. The second most common race or ethnicity in Dearborn, MI is hispanic, making up 5.4% of the population. Foreign-born residents account for 10.3% of the population in Dearborn, MI, and this percentage has increased by 5.1% 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 | 83.7% | -4.5% |
% Black | 4.7% | 11.9% |
% Hispanic | 5.4% | 22.7% |
% Asian | 0.9% | -43.8% |
% Foreign Born | 10.3% | 5.1% |
Mortgage and Risk — Dearborn, MI
According to HUD data as of 2023, there were 717 mortgage originations in Dearborn, MI, of which 86.0% of loans were conventional mortgages. The average loan-to-value was 67.0%, with 33.0% above 90% LTV (very high). This implies large mortgage risk in Dearborn, MI. Investor activity is low, as 3.0% of loans were by investors. 15.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 717 |
% Conventional Loans | 86.0% |
% Government Loans | 14.0% |
% Investor Loans | 3.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 15.0% |
Loan Activity
Rentals and Section 8 — Dearborn, MI
As of 2024, the percent of homes in Dearborn, MI under the Section 8 program is 5.2%. 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 and 2-bedroom units appear to be good home sizes to consider for Section 8 housing in Dearborn, MI, because HUD payments exceed market rent, while 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 286 |
Total Units Section 8 | 151 |
% Rentals under Section 8 | 5.2% |
% Occupied Section 8 | 92.6% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $250 | $950 | $1,200 |
| 2 Bedroom | $70 | $1,450 | $1,520 |
| 3 Bedroom | -$140 | $2,000 | $1,860 |
| 4 Bedroom | -$180 | $2,200 | $2,020 |
Affordability — Dearborn, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.5 |
| Median Home Price | $230,000 |
| Median Household Income | $78,400 |