Hazel Park, MI 48030 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Hazel Park, MI—48030

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$156,000

3.5% YoY Growth

Household Income

$62,900

75.6% YoY Growth

Days on Market

24.0% Longer YoY

Home Price Forecast

1.7%

Median Rent

$1,400

12.3% YoY Growth

1-Bed Rent

$850

7.7% YoY Growth

2-Bed Rent

$1,380

12.8% YoY Growth

3-Bed Rent

$1,500

4.6% YoY Growth

Home Price Trends — Hazel Park, MI

As of Nov '25, the median home price in Hazel Park, MI is $156,000, with a year-over-year change of -3.5%. This indicates that home prices in Hazel Park, MI are decreasing. According to Zillow, the 1-year price projection is 1.7%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$156,000	-3.5%
Single Family	$156,000	-3.7%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Hazel Park, MI

As of July '25, Rentcast reports the average rent in Hazel Park, MI is $1,550, with a year-over-year rent change of 12.3%. Per bedroom, the median rent as of July '25 in Hazel Park, MI is 1-bedrooms: $992, 2-bedrooms: $1,590, 3-bedrooms: $1,590, 4-bedrooms: $2,500. The most common rental property sizes in Hazel Park, MI are 2-bedroom and 3-bedroom, accounting for 40.0% and 27.2% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$1,400	$1,550
Studio Rent	N/A	N/A
1 Bed Rent	$850	$992
2 Bed Rent	$1,380	$1,590
3 Bed Rent	$1,500	$1,590
4 Bed Rent	$2,500	$2,500

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% of Rental Stock

Studio

1.2%

1 Bedroom

24.1%

2 Bedrooms

40.0%

3 Bedrooms

27.2%

4 Bedrooms

7.5%

Property Listings — Hazel Park, MI

As of Nov '25, Realtor.com reports that the median days on market for a home in Hazel Park, MI is 49. This is a increase of 24.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 21.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$185,000	-2.0%
Listing Count	77	-18.0%
Listings as % of Homes	0.8%	-18.0%
Days on Market	49	24.0%

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Demographics — Hazel Park, MI

As of the latest ACS Survey released in 2023, Hazel Park, MI has a population of 14,900, which has decreased by -9.9% over the past 5 years. Hazel Park, MI is a moderately popular place for families, as children make up 17.7% of the population. The area has a moderately educated workforce, with 25.1% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.2% reporting working from home.

Metric	Latest Census	YoY % Change
Population	14,900	-9.9%
% Under 18	17.7%	-9.7%
% Seniors	11.3%	-11.7%
% WFH	12.2%	306.7%
% w/ College Degree	25.1%	79.3%

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As of the latest ACS Survey released in 2023, Hazel Park, MI is a predominantly white area, with 73.6% of the population identifying as white. The white population has shrunk by 6.7% in the last 5 years. The second most common race or ethnicity in Hazel Park, MI is black, making up 10.3% of the population. Foreign-born residents account for 4.5% of the population in Hazel Park, MI, and this percentage has decreased by 23.7% 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	73.6%	-6.7%
% Black	10.3%	-22.6%
% Hispanic	5.8%	383.3%
% Asian	1.1%	-42.1%
% Foreign Born	4.5%	-23.7%

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Mortgage and Risk — Hazel Park, MI

According to HUD data as of 2023, there were 383 mortgage originations in Hazel Park, MI, of which 80.0% of loans were conventional mortgages. The average loan-to-value was 74.0%, with 49.0% above 90% LTV (very high). This implies large mortgage risk in Hazel Park, MI. Investor activity is low, as 4.0% 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	383
% Conventional Loans	80.0%
% Government Loans	20.0%
% Investor Loans	4.0%
% Second Loans	0.0%
% Cash Out Refinance	10.0%

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Rentals and Section 8 — Hazel Park, MI

As of 2024, the percent of homes in Hazel Park, MI under the Section 8 program is 15.1%. This is considered high, suggesting that the neighborhood is heavily 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 Hazel Park, MI, because HUD payments exceed market rent, while 4-bedroom units do not.

Section 8 Market Size

Total Units under HUD	397
Total Units Section 8	388
% Rentals under Section 8	15.1%
% Occupied Section 8	92.8%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	$290	$850	$1,140
2 Bedroom	$60	$1,380	$1,440
3 Bedroom	$260	$1,500	$1,760
4 Bedroom	-$590	$2,500	$1,910

Hazel Park, MI—48030

Key Metrics at a Glance

Home Price Trends — Hazel Park, MI

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Hazel Park, MI

% of Rental Stock

Property Listings — Hazel Park, MI

Demographics — Hazel Park, MI

Race and Ethnicity

Mortgage and Risk — Hazel Park, MI

Mortgages

Rentals and Section 8 — Hazel Park, MI

Section 8 Market Size

Section 8 Opportunity

Affordability — Hazel Park, MI

Home Price to Income Ratio

Hazel Park, MI — ZIP Code Boundary Map

Nearby ZIP Codes

Ferndale, MI

Warren, MI

Highland Park, Detroit, MI

Madison Heights, MI

Pleasant Ridge, MI

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	2.3
Median Home Price	$156,000
Median Household Income	$62,900

Hazel Park, MI—48030

Key Metrics at a Glance

Home Price Trends — Hazel Park, MI

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Hazel Park, MI

% of Rental Stock

Property Listings — Hazel Park, MI

Demographics — Hazel Park, MI

Race and Ethnicity

Mortgage and Risk — Hazel Park, MI

Mortgages

Rentals and Section 8 — Hazel Park, MI

Section 8 Market Size

Section 8 Opportunity

Affordability — Hazel Park, MI

Home Price to Income Ratio

Hazel Park, MI — ZIP Code Boundary Map

Nearby ZIP Codes

Ferndale, MI

Warren, MI

Highland Park, Detroit, MI

Madison Heights, MI

Pleasant Ridge, MI

Frequently Asked Questions

What is the average home price in Hazel Park, MI 48030?

How have home prices in Hazel Park, MI 48030 changed over the past year?

What is the home price projection for Hazel Park, MI 48030?

What are the demographics of Hazel Park, MI 48030?

How long does it take homes to sell in Hazel Park, MI 48030?

What is the average rent price in Hazel Park, MI 48030?