Grosse Pointe Farms, Grosse Pointe Woods, MI—48236
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Grosse Pointe Farms, Grosse Pointe Woods, MI
As of Oct '25, the median home price in Grosse Pointe Farms, Grosse Pointe Woods, MI is $387,000, with a year-over-year change of 5.5%. This indicates that home prices in Grosse Pointe Farms, Grosse Pointe Woods, MI are increasing. According to Zillow, the 1-year price projection is 1.0%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $387,000 | 5.5% |
| Single Family | $387,000 | 5.4% |
| Condos | $384,000 | 5.8% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $251,000 | 4.6% |
3 Bed | $338,000 | 4.3% |
4 Bed | $547,000 | 6.0% |
| 5 Bed | $956,000 | 7.5% |
% of Housing Stock
Rental Trends — Grosse Pointe Farms, Grosse Pointe Woods, MI
As of July '25, Rentcast reports the average rent in Grosse Pointe Farms, Grosse Pointe Woods, MI is $2,130, with a year-over-year rent change of -0.5%. Per bedroom, the median rent as of July '25 in Grosse Pointe Farms, Grosse Pointe Woods, MI is 1-bedrooms: $1,270, 2-bedrooms: $1,460, 3-bedrooms: $2,220, 4-bedrooms: $2,620. The most common rental property sizes in Grosse Pointe Farms, Grosse Pointe Woods, MI are 3-bedroom and 2-bedroom, accounting for 35.4% and 31.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,950 | $2,130 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,250 | $1,270 |
| 2 Bed Rent | $1,400 | $1,460 |
| 3 Bed Rent | $2,100 | $2,220 |
| 4 Bed Rent | $2,800 | $2,620 |
% of Rental Stock
Property Listings — Grosse Pointe Farms, Grosse Pointe Woods, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Grosse Pointe Farms, Grosse Pointe Woods, MI is 31. This is a decrease of -7.0% 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 29.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $402,000 | 0.0% |
Listing Count | 110 | -6.0% |
| Listings as % of Homes | 0.8% | -6.0% |
Days on Market | 31 | -7.0% |
Demographics — Grosse Pointe Farms, Grosse Pointe Woods, MI
As of the latest ACS Survey released in 2023, Grosse Pointe Farms, Grosse Pointe Woods, MI has a population of 31,400, which has increased by 5.7% over the past 5 years. Grosse Pointe Farms, Grosse Pointe Woods, MI is a moderately popular place for families, as children make up 22.8% of the population. The area has a highly educated workforce, with 67.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 22.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 31,400 | 5.7% |
% Under 18 | 22.8% | -3.4% |
% Seniors | 21.8% | 9.5% |
% WFH | 22.9% | 281.7% |
% w/ College Degree | 67.5% | 9.6% |
As of the latest ACS Survey released in 2023, Grosse Pointe Farms, Grosse Pointe Woods, MI is a predominantly white area, with 81.7% of the population identifying as white. The white population has shrunk by 3.2% in the last 5 years. The second most common race or ethnicity in Grosse Pointe Farms, Grosse Pointe Woods, MI is black, making up 10.9% of the population. Foreign-born residents account for 6.9% of the population in Grosse Pointe Farms, Grosse Pointe Woods, MI, and this percentage has remained stable as of the ACS Survey 5 years prior, suggesting immigration has remained steady.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 81.7% | -3.2% |
% Black | 10.9% | 14.7% |
% Hispanic | 1.4% | -39.1% |
% Asian | 1.8% | -21.7% |
% Foreign Born | 6.9% | 0.0% |
Mortgage and Risk — Grosse Pointe Farms, Grosse Pointe Woods, MI
According to HUD data as of 2023, there were 644 mortgage originations in Grosse Pointe Farms, Grosse Pointe Woods, MI, of which 92.0% of loans were conventional mortgages. The average loan-to-value was 59.0%, with 23.0% above 90% LTV (very high). This implies large mortgage risk in Grosse Pointe Farms, Grosse Pointe Woods, MI. Investor activity is low, as 0.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 644 |
% Conventional Loans | 92.0% |
% Government Loans | 8.0% |
% Investor Loans | 0.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Grosse Pointe Farms, Grosse Pointe Woods, MI
As of 2024, the percent of homes in Grosse Pointe Farms, Grosse Pointe Woods, MI under the Section 8 program is 2.4%. 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 and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Grosse Pointe Farms, Grosse Pointe Woods, MI, because HUD payments exceed market rent, while 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 76 |
Total Units Section 8 | 31 |
% Rentals under Section 8 | 2.4% |
% Occupied Section 8 | 83.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $210 | $1,250 | $1,460 |
| 2 Bedroom | $450 | $1,400 | $1,850 |
| 3 Bedroom | $170 | $2,100 | $2,270 |
| 4 Bedroom | -$350 | $2,800 | $2,450 |
Affordability — Grosse Pointe Farms, Grosse Pointe Woods, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.6 |
| Median Home Price | $387,000 |
| Median Household Income | $131,000 |