Birmingham, MI—48009
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Birmingham, MI
As of Oct '25, the median home price in Birmingham, MI is $700,000, with a year-over-year change of 3.5%. This indicates that home prices in Birmingham, MI are increasing. According to Zillow, the 1-year price projection is 1.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $700,000 | 3.5% |
| Single Family | $806,000 | 3.2% |
| Condos | $310,000 | 2.6% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $217,000 | 1.9% |
2 Bed | $349,000 | 4.2% |
3 Bed | $611,000 | 3.0% |
4 Bed | $1,100,000 | 4.1% |
| 5 Bed | $1,684,000 | 4.7% |
% of Housing Stock
Rental Trends — Birmingham, MI
As of July '25, Rentcast reports the average rent in Birmingham, MI is $3,650, with a year-over-year rent change of 11.6%. Per bedroom, the median rent as of July '25 in Birmingham, MI is studios: $2,040, 1-bedrooms: $2,360, 2-bedrooms: $3,210, 3-bedrooms: $4,420, 4-bedrooms: $6,870. The most common rental property sizes in Birmingham, MI are 2-bedroom and 3-bedroom, accounting for 45.0% and 23.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,000 | $3,650 |
| Studio Rent | $2,280 | $2,040 |
| 1 Bed Rent | $1,700 | $2,360 |
| 2 Bed Rent | $2,500 | $3,210 |
| 3 Bed Rent | $3,500 | $4,420 |
| 4 Bed Rent | $6,500 | $6,870 |
% of Rental Stock
Property Listings — Birmingham, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Birmingham, MI is 39. This is a decrease of -12.0% 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 11.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $1,420,000 | 14.0% |
Listing Count | 145 | 10.0% |
| Listings as % of Homes | 0.9% | 10.0% |
Days on Market | 39 | -12.0% |
Demographics — Birmingham, MI
As of the latest ACS Survey released in 2023, Birmingham, MI has a population of 21,600, which has increased by 2.6% over the past 5 years. Birmingham, MI is a popular place for families, as children make up 26.2% of the population. The area has a highly educated workforce, with 76.9% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 25.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 21,600 | 2.6% |
% Under 18 | 26.2% | 6.1% |
% Seniors | 17.2% | 8.9% |
% WFH | 25.1% | 230.3% |
% w/ College Degree | 76.9% | 0.7% |
As of the latest ACS Survey released in 2023, Birmingham, MI is a predominantly white area, with 83.8% of the population identifying as white. The white population has shrunk by 5.8% in the last 5 years. The second most common race or ethnicity in Birmingham, MI is asian, making up 5.3% of the population. Foreign-born residents account for 9.7% of the population in Birmingham, MI, and this percentage has decreased by 1.0% 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 | 83.8% | -5.8% |
% Black | 3.7% | 32.1% |
% Hispanic | 3.8% | 35.7% |
% Asian | 5.3% | 89.3% |
% Foreign Born | 9.7% | -1.0% |
Mortgage and Risk — Birmingham, MI
According to HUD data as of 2023, there were 475 mortgage originations in Birmingham, MI, of which 97.0% of loans were conventional mortgages. The average loan-to-value was 58.0%, with 14.0% above 90% LTV (elevated). This implies medium mortgage risk in Birmingham, MI. Investor activity is low, as 2.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 475 |
% Conventional Loans | 97.0% |
% Government Loans | 3.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Birmingham, MI
As of 2024, the percent of homes in Birmingham, MI under the Section 8 program is 0.5%. 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 Birmingham, MI, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 15 |
Total Units Section 8 | 15 |
% Rentals under Section 8 | 0.5% |
% Occupied Section 8 | 93.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$60 | $1,700 | $1,640 |
| 2 Bedroom | -$430 | $2,500 | $2,070 |
| 3 Bedroom | -$960 | $3,500 | $2,540 |
| 4 Bedroom | -$3,760 | $6,500 | $2,740 |
Affordability — Birmingham, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.1 |
| Median Home Price | $700,000 |
| Median Household Income | $152,000 |