What is the average home price in South Lyon, MI 48178?

As of May '26, the median home price in South Lyon, MI 48178 is $479,000, based on Zillow home estimates.

How have home prices in South Lyon, MI 48178 changed over the past year?

As of May '26, home prices have increased 2.7% over the past year, according to Zillow home estimates data.

What is the home price projection for South Lyon, MI 48178?

As of May '26, Zillow projects home prices in South Lyon, MI 48178 to increase 1.4% in the next year.

What are the demographics of South Lyon, MI 48178?

According to the latest Census, the demographics of South Lyon, MI 48178 are 88.2% White, 1.1% Black, 3.6% Asian, 3.3% Hispanic. The population is 37,300, with 23.9% under 18 years old.

How long does it take homes to sell in South Lyon, MI 48178?

According to Realtor.com, as of May '26, the median home in South Lyon, MI 48178 is on the market for 40 days. This is an increase of 3.0% from last year.

What is the average rent price in South Lyon, MI 48178?

The average rent price in South Lyon, MI 48178, as of the latest data, is $2,510. The average rent for 1 bedroom homes is $1,570. For 2, 3, and 4 bedroom homes, the average rent is $1,640, $2,290, and $3,810 respectively.

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South Lyon, MI—48178

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$479,000

2.7% YoY Growth

Household Income

$131,000

41.5% YoY Growth

Days on Market

3.0% Longer YoY

Home Price Forecast

1.4%

Median Rent

$2,500

17.3% YoY Growth

1-Bed Rent

$1,250

45.4% YoY Growth

2-Bed Rent

$1,350

1.2% YoY Growth

3-Bed Rent

$2,500

6.9% YoY Growth

Home Price Trends — South Lyon, MI

As of May '26, the median home price in South Lyon, MI is $479,000, with a year-over-year change of 2.7%. This indicates that home prices in South Lyon, 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	$479,000	2.7%
Single Family	$504,000	2.2%
Condos	$352,000	2.3%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$485,000	-19.0%
Listing Count	191	-3.0%
Listings as % of Homes	0.8%	-3.0%
Days on Market	40	3.0%

Metric	Latest Census	YoY % Change
Population	37,300	8.7%
% Under 18	23.9%	-5.2%
% Seniors	17.3%	13.8%
% WFH	16.5%	179.7%
% w/ College Degree	52.6%	18.7%

Metric	Zip Code Average
Total Loan Originations	822
% Conventional Loans	95.0%
% Government Loans	5.0%
% Investor Loans	1.0%
% Second Loans	0.0%
% Cash Out Refinance	10.0%

Total Units under HUD	18
Total Units Section 8	18
% Rentals under Section 8	1.7%
% Occupied Section 8	98.0%

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	-$70	$1,250	$1,180
2 Bedroom	$100	$1,350	$1,450
3 Bedroom	-$660	$2,500	$1,840
4 Bedroom	-$1,390	$3,400	$2,010

South Lyon, MI—48178

Key Metrics at a Glance

Home Price Trends — South Lyon, MI

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — South Lyon, MI

% of Rental Stock

Property Listings — South Lyon, MI

Demographics — South Lyon, MI

Race and Ethnicity

Mortgage and Risk — South Lyon, MI

Mortgages

Rentals and Section 8 — South Lyon, MI

Section 8 Market Size

Section 8 Opportunity

Affordability — South Lyon, MI

Home Price to Income Ratio

South Lyon, MI — ZIP Code Boundary Map

Nearby ZIP Codes

New Hudson, MI

Ann Arbor, MI

Whitmore Lake, MI

Northville, MI

Brighton, MI

Frequently Asked Questions

Type	Median Rent	Average Rent
Average Rent	$2,500	$2,510
Studio Rent	N/A	N/A
1 Bed Rent	$1,250	$1,570
2 Bed Rent	$1,350	$1,640
3 Bed Rent	$2,500	$2,290
4 Bed Rent	$3,400	$3,810

Metric	Latest Census	5-Year % Change
% White	88.2%	-4.3%
% Black	1.1%	266.7%
% Hispanic	3.3%	13.8%
% Asian	3.6%	71.4%
% Foreign Born	6.9%	35.3%

Metric	Zip Code Average
Home Price to Income Ratio	3.2
Median Home Price	$479,000
Median Household Income	$131,000