Hamtramck, MI—48212
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Hamtramck, MI
As of Oct '25, the median home price in Hamtramck, MI is $126,000, with a year-over-year change of -0.9%. This indicates that home prices in Hamtramck, MI are flat. 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 | $126,000 | -0.9% |
| Single Family | $126,000 | 0.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $112,000 | 0.9% |
3 Bed | $108,000 | 0.0% |
4 Bed | $163,000 | 3.2% |
| 5 Bed | $186,000 | 4.5% |
% of Housing Stock
Rental Trends — Hamtramck, MI
As of July '25, Rentcast reports the average rent in Hamtramck, MI is $1,190, with a year-over-year rent change of 14.4%. Per bedroom, the median rent as of July '25 in Hamtramck, MI is 1-bedrooms: $812, 2-bedrooms: $1,260, 3-bedrooms: $1,300, 4-bedrooms: $1,850. The most common rental property sizes in Hamtramck, MI are 2-bedroom and 3-bedroom, accounting for 50.2% and 26.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,050 | $1,190 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $800 | $812 |
| 2 Bed Rent | $1,050 | $1,260 |
| 3 Bed Rent | $1,300 | $1,300 |
| 4 Bed Rent | $1,500 | $1,850 |
% of Rental Stock
Property Listings — Hamtramck, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Hamtramck, MI is 66. 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 8.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $169,000 | 18.0% |
Listing Count | 73 | 14.0% |
| Listings as % of Homes | 0.3% | 14.0% |
Days on Market | 66 | 1.0% |
Demographics — Hamtramck, MI
As of the latest ACS Survey released in 2023, Hamtramck, MI has a population of 42,600, which has increased by 11.6% over the past 5 years. Hamtramck, MI is a popular place for families, as children make up 31.9% of the population. The area has a poorly educated workforce, with 16.5% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 42,600 | 11.6% |
% Under 18 | 31.9% | 6.0% |
% Seniors | 9.2% | -5.2% |
% WFH | 6.6% | 112.9% |
% w/ College Degree | 16.5% | 41.0% |
As of the latest ACS Survey released in 2023, Hamtramck, MI is a predominantly white area, with 42.6% of the population identifying as white. The white population has grown by 9.2% in the last 5 years. The second most common race or ethnicity in Hamtramck, MI is asian, making up 28.7% of the population. Foreign-born residents account for 41.1% of the population in Hamtramck, 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 | 42.6% | 9.2% |
% Black | 19.5% | -24.1% |
% Hispanic | 0.5% | -64.3% |
% Asian | 28.7% | -3.7% |
% Foreign Born | 41.1% | 5.1% |
Mortgage and Risk — Hamtramck, MI
According to HUD data as of 2023, there were 223 mortgage originations in Hamtramck, MI, of which 90.0% of loans were conventional mortgages. The average loan-to-value was 76.0%, with 27.0% above 90% LTV (very high). This implies large mortgage risk in Hamtramck, MI. Investor activity is low, as 2.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 223 |
% Conventional Loans | 90.0% |
% Government Loans | 10.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Hamtramck, MI
As of 2024, the percent of homes in Hamtramck, MI under the Section 8 program is 3.5%. 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 Hamtramck, MI, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 698 |
Total Units Section 8 | 157 |
% Rentals under Section 8 | 3.5% |
% Occupied Section 8 | 86.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $120 | $800 | $920 |
| 2 Bedroom | $120 | $1,050 | $1,170 |
| 3 Bedroom | $140 | $1,300 | $1,440 |
| 4 Bedroom | $50 | $1,500 | $1,550 |
Affordability — Hamtramck, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3 |
| Median Home Price | $126,000 |
| Median Household Income | $37,300 |