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Ann Arbor, MI—48104

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$588,000
4.1% YoY Growth
Household Income
$63,300
8.9% YoY Growth
Days on Market
38
21.0% Longer YoY
Home Price Forecast
0.6%
Median Rent
$2,100
9.9% YoY Growth
1-Bed Rent
$1,640
8.5% YoY Growth
2-Bed Rent
$2,350
21.7% YoY Growth
3-Bed Rent
$3,300
8.0% YoY Growth

Other Zip Codes in Ann Arbor, MI

48103481054810848109
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Ann Arbor, MI

As of May '26, the median home price in Ann Arbor, MI is $588,000, with a year-over-year change of 4.1%. This indicates that home prices in Ann Arbor, MI are increasing. According to Zillow, the 1-year price projection is 0.6%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$588,0004.1%
Single Family $675,0003.5%
Condos $282,0000.0%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed

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  • Affordability
  • Rentals and Section 8
    • $280,000
    2.2%
    2 Bed
    		$311,0000.3%
    3 Bed
    		$528,0003.7%
    4 Bed
    		$805,0005.0%
    5 Bed $931,3733.3%
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    % of Housing Stock

    Studio
    7.9%
    1 Bedroom
    17.8%
    2 Bedrooms
    25.6%
    3 Bedrooms
    20.8%
    4 Bedrooms
    17.8%
    5+ Bedrooms
    10.0%

    Rental Trends — Ann Arbor, MI

    As of July '25, Rentcast reports the average rent in Ann Arbor, MI is $2,670, with a year-over-year rent change of 9.9%. Per bedroom, the median rent as of July '25 in Ann Arbor, MI is studios: $1,470, 1-bedrooms: $1,620, 2-bedrooms: $2,410, 3-bedrooms: $3,230, 4-bedrooms: $4,450. The most common rental property sizes in Ann Arbor, MI are 2-bedroom and 1-bedroom, accounting for 28.2% and 25.4% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$2,100$2,670
    Studio Rent $1,500$1,470
    1 Bed Rent $1,640$1,620
    2 Bed Rent $2,350$2,410
    3 Bed Rent $3,300$3,230
    4 Bed Rent $4,470$4,450
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    % of Rental Stock

    Studio
    10.8%
    1 Bedroom
    25.4%
    2 Bedrooms
    28.2%
    3 Bedrooms
    15.2%
    4 Bedrooms
    10.0%
    5+ Bedrooms
    10.4%

    Property Listings — Ann Arbor, MI

    As of May '26, Realtor.com reports that the median days on market for a home in Ann Arbor, MI is 38. This is a increase of 21.0% 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 17.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$625,000-27.0%
    Listing Count
    		1416.0%
    Listings as % of Homes0.3%6.0%
    Days on Market
    		3821.0%
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    Demographics — Ann Arbor, MI

    As of the latest ACS Survey released in 2023, Ann Arbor, MI has a population of 43,800, which has increased by 1.2% over the past 5 years. Ann Arbor, MI is a less popular place for families, as children make up 7.8% of the population. The area has a highly educated workforce, with 81.5% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 25.1% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		43,8001.2%
    % Under 18
    		7.8%-8.2%
    % Seniors
    		8.8%3.5%
    % WFH
    		25.1%209.9%
    % w/ College Degree
    		81.5%1.4%
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    As of the latest ACS Survey released in 2023, Ann Arbor, MI is a predominantly white area, with 73.9% of the population identifying as white. The white population has shrunk by 0.7% in the last 5 years. The second most common race or ethnicity in Ann Arbor, MI is asian, making up 12.6% of the population. Foreign-born residents account for 13.2% of the population in Ann Arbor, MI, and this percentage has increased by 2.3% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		73.9%-0.7%
    % Black
    		4.7%4.4%
    % Hispanic
    		4.6%9.5%
    % Asian
    		12.6%-6.7%
    % Foreign Born
    		13.2%2.3%
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    Mortgage and Risk — Ann Arbor, MI

    According to HUD data as of 2023, there were 351 mortgage originations in Ann Arbor, MI, of which 96.0% of loans were conventional mortgages. The average loan-to-value was 58.0%, with 12.0% above 90% LTV (elevated). This implies medium mortgage risk in Ann Arbor, MI. Investor activity is low, as 6.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		351
    % Conventional Loans
    		96.0%
    % Government Loans
    		4.0%
    % Investor Loans
    		6.0%
    % Second Loans
    		3.0%
    % Cash Out Refinance
    		7.0%
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    Rentals and Section 8 — Ann Arbor, MI

    As of 2024, the percent of homes in Ann Arbor, MI under the Section 8 program is 2.9%. 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 Ann Arbor, 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
    		304
    Total Units Section 8
    		304
    % Rentals under Section 8
    		2.9%
    % Occupied Section 8
    		84.0%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom-$50$1,640$1,590
    2 Bedroom-$450$2,350$1,900
    3 Bedroom-$1,010$3,300$2,290
    4 Bedroom-$1,950$4,470$2,520

    Affordability — Ann Arbor, MI

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio8
    Median Home Price$588,000
    Median Household Income$63,300

    Ann Arbor, MI — ZIP Code Boundary Map

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    Nearby ZIP Codes

    Ann Arbor, MI

    48109

    Ann Arbor, MI

    48108

    Ann Arbor, MI

    48105

    Ypsilanti, MI

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    Ann Arbor, MI

    48103

    Frequently Asked Questions