Grosse Pointe, Grosse Pointe Park, MI—48230
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Grosse Pointe, Grosse Pointe Park, MI
As of Oct '25, the median home price in Grosse Pointe, Grosse Pointe Park, MI is $475,000, with a year-over-year change of 5.4%. This indicates that home prices in Grosse Pointe, Grosse Pointe Park, MI are increasing. According to Zillow, the 1-year price projection is 0.5%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $475,000 | 5.4% |
| Single Family | $493,000 | 6.0% |
| Condos | $309,000 | 4.4% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $277,000 | 1.1% |
3 Bed | $407,000 | 4.4% |
4 Bed | $604,000 | 6.0% |
| 5 Bed | $560,000 | 7.1% |
% of Housing Stock
Rental Trends — Grosse Pointe, Grosse Pointe Park, MI
As of July '25, Rentcast reports the average rent in Grosse Pointe, Grosse Pointe Park, MI is $1,910, with a year-over-year rent change of 8.5%. Per bedroom, the median rent as of July '25 in Grosse Pointe, Grosse Pointe Park, MI is 1-bedrooms: $1,430, 2-bedrooms: $1,640, 3-bedrooms: $2,480, 4-bedrooms: $2,720. The most common rental property sizes in Grosse Pointe, Grosse Pointe Park, MI are 2-bedroom and 3-bedroom, accounting for 48.4% and 38.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,700 | $1,910 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,150 | $1,430 |
| 2 Bed Rent | $1,500 | $1,640 |
| 3 Bed Rent | $2,200 | $2,480 |
| 4 Bed Rent | $2,450 | $2,720 |
% of Rental Stock
Property Listings — Grosse Pointe, Grosse Pointe Park, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Grosse Pointe, Grosse Pointe Park, MI is 40. This is a decrease of -32.0% 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 15.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $498,000 | -4.0% |
Listing Count | 52 | -20.0% |
| Listings as % of Homes | 0.4% | -20.0% |
Days on Market | 40 | -32.0% |
Demographics — Grosse Pointe, Grosse Pointe Park, MI
As of the latest ACS Survey released in 2023, Grosse Pointe, Grosse Pointe Park, MI has a population of 17,300, which has increased by 5.5% over the past 5 years. Grosse Pointe, Grosse Pointe Park, MI is a moderately popular place for families, as children make up 24.1% of the population. The area has a highly educated workforce, with 72.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 24.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 17,300 | 5.5% |
% Under 18 | 24.1% | 2.1% |
% Seniors | 19.4% | 8.4% |
% WFH | 24.5% | 222.4% |
% w/ College Degree | 72.7% | 5.8% |
As of the latest ACS Survey released in 2023, Grosse Pointe, Grosse Pointe Park, MI is a predominantly white area, with 85.3% of the population identifying as white. The white population has shrunk by 1.8% in the last 5 years. The second most common race or ethnicity in Grosse Pointe, Grosse Pointe Park, MI is black, making up 4.6% of the population. Foreign-born residents account for 6.3% of the population in Grosse Pointe, Grosse Pointe Park, MI, and this percentage has increased by 3.3% 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 | 85.3% | -1.8% |
% Black | 4.6% | -28.1% |
% Hispanic | 2.0% | 17.6% |
% Asian | 1.5% | -28.6% |
% Foreign Born | 6.3% | 3.3% |
Mortgage and Risk — Grosse Pointe, Grosse Pointe Park, MI
According to HUD data as of 2023, there were 310 mortgage originations in Grosse Pointe, Grosse Pointe Park, MI, of which 89.0% of loans were conventional mortgages. The average loan-to-value was 57.0%, with 17.0% above 90% LTV (elevated). This implies medium mortgage risk in Grosse Pointe, Grosse Pointe Park, MI. Investor activity is low, as 3.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 310 |
% Conventional Loans | 89.0% |
% Government Loans | 11.0% |
% Investor Loans | 3.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Grosse Pointe, Grosse Pointe Park, MI
As of 2024, the percent of homes in Grosse Pointe, Grosse Pointe Park, MI under the Section 8 program is 0.2%. 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 Grosse Pointe, Grosse Pointe Park, MI, because HUD payments exceed market rent, while 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 3 |
Total Units Section 8 | 3 |
% Rentals under Section 8 | 0.2% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $220 | $1,150 | $1,370 |
| 2 Bedroom | $230 | $1,500 | $1,730 |
| 3 Bedroom | -$80 | $2,200 | $2,120 |
| 4 Bedroom | -$160 | $2,450 | $2,290 |
Affordability — Grosse Pointe, Grosse Pointe Park, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.2 |
| Median Home Price | $475,000 |
| Median Household Income | $131,000 |