Dearborn, MI—48126
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Dearborn, MI
As of Oct '25, the median home price in Dearborn, MI is $227,000, with a year-over-year change of 5.7%. This indicates that home prices in Dearborn, MI are increasing. According to Zillow, the 1-year price projection is 1.4%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $227,000 | 5.7% |
| Single Family | $226,000 | 6.1% |
| Condos | $274,000 | -0.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $171,000 | 6.9% |
3 Bed | $223,000 | 6.2% |
4 Bed | $261,000 | 4.8% |
| 5 Bed | $275,000 | 3.8% |
% of Housing Stock
Rental Trends — Dearborn, MI
As of July '25, Rentcast reports the average rent in Dearborn, MI is $1,670, with a year-over-year rent change of 0.6%. Per bedroom, the median rent as of July '25 in Dearborn, MI is studios: $1,060, 1-bedrooms: $1,300, 2-bedrooms: $1,710, 3-bedrooms: $1,890, 4-bedrooms: $2,280. The most common rental property sizes in Dearborn, MI are 2-bedroom and 3-bedroom, accounting for 39.5% and 25.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,700 | $1,670 |
| Studio Rent | $895 | $1,060 |
| 1 Bed Rent | $1,100 | $1,300 |
| 2 Bed Rent | $1,550 | $1,710 |
| 3 Bed Rent | $1,900 | $1,890 |
| 4 Bed Rent | $2,200 | $2,280 |
% of Rental Stock
Property Listings — Dearborn, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Dearborn, MI is 33. 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 31.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $281,000 | 2.0% |
Listing Count | 71 | 1.0% |
| Listings as % of Homes | 0.3% | 1.0% |
Days on Market | 33 | -7.0% |
Demographics — Dearborn, MI
As of the latest ACS Survey released in 2023, Dearborn, MI has a population of 52,100, which has increased by 8.3% over the past 5 years. Dearborn, MI is a popular place for families, as children make up 32.8% of the population. The area has a poorly educated workforce, with 24.4% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 52,100 | 8.3% |
% Under 18 | 32.8% | -3.8% |
% Seniors | 10.9% | 16.0% |
% WFH | 7.2% | 227.3% |
% w/ College Degree | 24.4% | 17.9% |
As of the latest ACS Survey released in 2023, Dearborn, MI is a predominantly white area, with 90.1% of the population identifying as white. The white population has grown by 0.4% in the last 5 years. The second most common race or ethnicity in Dearborn, MI is black, making up 2.8% of the population. Foreign-born residents account for 42.8% of the population in Dearborn, MI, and this percentage has increased by 1.9% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 90.1% | 0.4% |
% Black | 2.8% | 40.0% |
% Hispanic | 1.2% | -36.8% |
% Asian | 2.1% | -19.2% |
% Foreign Born | 42.8% | 1.9% |
Mortgage and Risk — Dearborn, MI
According to HUD data as of 2023, there were 376 mortgage originations in Dearborn, MI, of which 84.0% of loans were conventional mortgages. The average loan-to-value was 68.0%, with 29.0% above 90% LTV (very high). This implies large mortgage risk in Dearborn, MI. Investor activity is low, as 2.0% of loans were by investors. 15.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 376 |
% Conventional Loans | 84.0% |
% Government Loans | 16.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 15.0% |
Loan Activity
Rentals and Section 8 — Dearborn, MI
As of 2024, the percent of homes in Dearborn, MI under the Section 8 program is 3.0%. 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 Dearborn, 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 | 396 |
Total Units Section 8 | 198 |
% Rentals under Section 8 | 3.0% |
% Occupied Section 8 | 85.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$60 | $1,100 | $1,040 |
| 2 Bedroom | -$240 | $1,550 | $1,310 |
| 3 Bedroom | -$300 | $1,900 | $1,600 |
| 4 Bedroom | -$460 | $2,200 | $1,740 |
Affordability — Dearborn, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.5 |
| Median Home Price | $227,000 |
| Median Household Income | $42,400 |