Downtown, Detroit, MI—48226
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Downtown, Detroit, MI
As of Oct '25, the median home price in Downtown, Detroit, MI is $311,000, with a year-over-year change of 1.6%. This indicates that home prices in Downtown, Detroit, MI are increasing. According to Zillow, the 1-year price projection is 0.6%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $311,000 | 1.6% |
| Single Family | N/A | N/A |
| Condos | $314,000 | -0.6% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $232,000 | 7.4% |
2 Bed | $386,000 | 3.2% |
3 Bed | N/A | N/A |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Downtown, Detroit, MI
As of July '25, Rentcast reports the average rent in Downtown, Detroit, MI is $2,390, with a year-over-year rent change of -4.4%. Per bedroom, the median rent as of July '25 in Downtown, Detroit, MI is studios: $1,660, 1-bedrooms: $2,160, 2-bedrooms: $3,020. The most common rental property sizes in Downtown, Detroit, MI are 1-bedroom and 2-bedroom, accounting for 58.6% and 21.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,200 | $2,390 |
| Studio Rent | $1,700 | $1,660 |
| 1 Bed Rent | $1,950 | $2,160 |
| 2 Bed Rent | $2,850 | $3,020 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Downtown, Detroit, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Downtown, Detroit, MI is 86. This is a decrease of -31.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 32.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $348,000 | -33.0% |
Listing Count | 31 | 70.0% |
| Listings as % of Homes | 0.6% | 70.0% |
Days on Market | 86 | -31.0% |
Demographics — Downtown, Detroit, MI
As of the latest ACS Survey released in 2023, Downtown, Detroit, MI has a population of 6,890, which has remained stable by -0.6% over the past 5 years. Downtown, Detroit, MI is a less popular place for families, as children make up 1.8% of the population. The area has a highly educated workforce, with 52.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 23.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 6,890 | -0.6% |
% Under 18 | 1.8% | -51.4% |
% Seniors | 13.1% | 13.9% |
% WFH | 23.7% | 438.6% |
% w/ College Degree | 52.7% | 5.0% |
As of the latest ACS Survey released in 2023, Downtown, Detroit, MI is a predominantly black area, with 44.5% of the population identifying as black. The black population has grown by 11.0% in the last 5 years. The second most common race or ethnicity in Downtown, Detroit, MI is white, making up 39.3% of the population. Foreign-born residents account for 9.3% of the population in Downtown, Detroit, MI, and this percentage has decreased by 19.1% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 39.3% | -6.0% |
% Black | 44.5% | 11.0% |
% Hispanic | 4.3% | -14.0% |
% Asian | 5.9% | -43.3% |
% Foreign Born | 9.3% | -19.1% |
Mortgage and Risk — Downtown, Detroit, MI
According to HUD data as of 2023, there were 18 mortgage originations in Downtown, Detroit, MI, of which 78.0% of loans were conventional mortgages. The average loan-to-value was 70.0%, with 22.0% above 90% LTV (very high). This implies large mortgage risk in Downtown, Detroit, MI. Investor activity is low, as 0.0% of loans were by investors. 6.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 18 |
% Conventional Loans | 78.0% |
% Government Loans | 22.0% |
% Investor Loans | 0.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — Downtown, Detroit, MI
Downtown, Detroit, MI lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 339 |
Total Units Section 8 | 339 |
% Rentals under Section 8 | 9.3% |
% Occupied Section 8 | 89.5% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$310 | $1,950 | $1,640 |
| 2 Bedroom | -$780 | $2,850 | $2,070 |
| 3 Bedroom | N/A | N/A | $2,540 |
| 4 Bedroom | N/A | N/A | $2,740 |
Affordability — Downtown, Detroit, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.5 |
| Median Home Price | $311,000 |
| Median Household Income | $69,800 |