Hazel Park, MI—48030
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Hazel Park, MI
As of Oct '25, the median home price in Hazel Park, MI is $157,000, with a year-over-year change of -2.9%. This indicates that home prices in Hazel Park, MI are decreasing. According to Zillow, the 1-year price projection is 0.8%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $157,000 | -2.9% |
| Single Family | $157,000 | -3.7% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $109,000 | -7.6% |
2 Bed | $136,000 | -4.2% |
3 Bed | $168,000 | -3.4% |
4 Bed | $185,000 | -2.1% |
| 5 Bed | $207,000 | -1.9% |
% of Housing Stock
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 |
% of Rental Stock
Property Listings — Hazel Park, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Hazel Park, MI is 42. This is a increase of 42.0% 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 25.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $176,000 | -7.0% |
Listing Count | 80 | -15.0% |
| Listings as % of Homes | 0.8% | -15.0% |
Days on Market | 42 | 42.0% |
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% |
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% |
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% |
Loan Activity
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 |
Affordability — Hazel Park, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.3 |
| Median Home Price | $157,000 |
| Median Household Income | $62,900 |