Dearborn, MI—48128
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 $298,000, with a year-over-year change of 7.7%. This indicates that home prices in Dearborn, MI are increasing. According to Zillow, the 1-year price projection is 1.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $298,000 | 7.7% |
| Single Family | $297,000 | 6.8% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $248,000 | 8.8% |
3 Bed | $291,000 | 7.4% |
4 Bed | $361,000 | 6.2% |
| 5 Bed | $448,000 | 4.4% |
% of Housing Stock
Rental Trends — Dearborn, MI
As of July '25, Rentcast reports the average rent in Dearborn, MI is $2,170, with a year-over-year rent change of 9.6%. Per bedroom, the median rent as of July '25 in Dearborn, MI is 2-bedrooms: $1,900, 3-bedrooms: $2,130, 4-bedrooms: $2,500. The most common rental property sizes in Dearborn, MI are 3-bedroom and 4-bedroom, accounting for 67.0% and 14.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,200 | $2,170 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $1,900 | $1,900 |
| 3 Bed Rent | $2,100 | $2,130 |
| 4 Bed Rent | $2,500 | $2,500 |
% 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 16.0% 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 25.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $330,000 | -12.0% |
Listing Count | 40 | 24.0% |
| Listings as % of Homes | 0.3% | 24.0% |
Days on Market | 33 | 16.0% |
Demographics — Dearborn, MI
As of the latest ACS Survey released in 2023, Dearborn, MI has a population of 12,800, which has increased by 19.5% over the past 5 years. Dearborn, MI is a moderately popular place for families, as children make up 24.6% of the population. The area has a highly educated workforce, with 49.1% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 17.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 12,800 | 19.5% |
% Under 18 | 24.6% | -5.7% |
% Seniors | 15.7% | 14.6% |
% WFH | 17.2% | 421.2% |
% w/ College Degree | 49.1% | 3.4% |
As of the latest ACS Survey released in 2023, Dearborn, MI is a predominantly white area, with 90.9% of the population identifying as white. The white population has grown by 2.9% in the last 5 years. The second most common race or ethnicity in Dearborn, MI is hispanic, making up 3.6% of the population. Foreign-born residents account for 18.3% of the population in Dearborn, MI, and this percentage has increased by 43.0% 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 | 90.9% | 2.9% |
% Black | 1.5% | -48.3% |
% Hispanic | 3.6% | -47.1% |
% Asian | 1.7% | 70.0% |
% Foreign Born | 18.3% | 43.0% |
Mortgage and Risk — Dearborn, MI
According to HUD data as of 2023, there were 230 mortgage originations in Dearborn, MI, of which 89.0% of loans were conventional mortgages. The average loan-to-value was 65.0%, with 30.0% 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. 16.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 230 |
% Conventional Loans | 89.0% |
% Government Loans | 11.0% |
% Investor Loans | 3.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 16.0% |
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 | 163 |
Total Units Section 8 | 162 |
% Rentals under Section 8 | 28.5% |
% Occupied Section 8 | 97.3% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,590 |
| 2 Bedroom | $110 | $1,900 | $2,010 |
| 3 Bedroom | $360 | $2,100 | $2,460 |
| 4 Bedroom | $160 | $2,500 | $2,660 |
Affordability — Dearborn, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.6 |
| Median Home Price | $298,000 |
| Median Household Income | $98,400 |