Highland Park, Detroit, MI—48203
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Highland Park, Detroit, MI
As of Oct '25, the median home price in Highland Park, Detroit, MI is $62,000, with a year-over-year change of -12.5%. This indicates that home prices in Highland Park, Detroit, MI are decreasing. According to Zillow, the 1-year price projection is 2.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $62,000 | -12.5% |
| Single Family | $62,000 | -12.7% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $46,000 | -6.1% |
3 Bed | $59,000 | -13.2% |
4 Bed | $98,000 | -10.1% |
| 5 Bed | $213,000 | -2.3% |
% of Housing Stock
Rental Trends — Highland Park, Detroit, MI
As of July '25, Rentcast reports the average rent in Highland Park, Detroit, MI is $1,200, with a year-over-year rent change of 0.0%. Per bedroom, the median rent as of July '25 in Highland Park, Detroit, MI is studios: $978, 1-bedrooms: $1,070, 2-bedrooms: $1,180, 3-bedrooms: $1,300, 4-bedrooms: $1,840. The most common rental property sizes in Highland Park, Detroit, MI are 1-bedroom and 3-bedroom, accounting for 35.6% and 24.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,100 | $1,200 |
| Studio Rent | $890 | $978 |
| 1 Bed Rent | $1,050 | $1,070 |
| 2 Bed Rent | $1,100 | $1,180 |
| 3 Bed Rent | $1,300 | $1,300 |
| 4 Bed Rent | $1,500 | $1,840 |
% of Rental Stock
Property Listings — Highland Park, Detroit, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Highland Park, Detroit, MI is 62. This is a increase of 2.0% 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 19.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $73,500 | -9.0% |
Listing Count | 136 | 51.0% |
| Listings as % of Homes | 0.5% | 51.0% |
Days on Market | 62 | 2.0% |
Demographics — Highland Park, Detroit, MI
As of the latest ACS Survey released in 2023, Highland Park, Detroit, MI has a population of 20,500, which has decreased by -10.8% over the past 5 years. Highland Park, Detroit, MI is a moderately popular place for families, as children make up 22.0% of the population. The area has a poorly educated workforce, with 19.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 20,500 | -10.8% |
% Under 18 | 22.0% | -1.3% |
% Seniors | 17.8% | 9.2% |
% WFH | 10.0% | 334.8% |
% w/ College Degree | 19.3% | 36.9% |
As of the latest ACS Survey released in 2023, Highland Park, Detroit, MI is a predominantly black area, with 85.5% of the population identifying as black. The black population has shrunk by 3.0% in the last 5 years. The second most common race or ethnicity in Highland Park, Detroit, MI is white, making up 8.3% of the population. Foreign-born residents account for 1.9% of the population in Highland Park, Detroit, MI, and this percentage has remained stable as of the ACS Survey 5 years prior, suggesting immigration has remained steady.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 8.3% | 15.3% |
% Black | 85.5% | -3.0% |
% Hispanic | 1.8% | -10.0% |
% Asian | 0.4% | 100.0% |
% Foreign Born | 1.9% | 0.0% |
Mortgage and Risk — Highland Park, Detroit, MI
According to HUD data as of 2023, there were 117 mortgage originations in Highland Park, Detroit, MI, of which 82.0% of loans were conventional mortgages. The average loan-to-value was 65.0%, with 26.0% above 90% LTV (very high). This implies large mortgage risk in Highland Park, Detroit, MI. Investor activity is low, as 4.0% 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 | 117 |
% Conventional Loans | 82.0% |
% Government Loans | 18.0% |
% Investor Loans | 4.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 15.0% |
Loan Activity
Rentals and Section 8 — Highland Park, Detroit, MI
As of 2024, the percent of homes in Highland Park, Detroit, MI under the Section 8 program is 33.4%. 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. 2-bedroom and 3-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Highland Park, Detroit, MI, because HUD payments exceed market rent, while 1-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 1,851 |
Total Units Section 8 | 1,449 |
% Rentals under Section 8 | 33.4% |
% Occupied Section 8 | 90.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$130 | $1,050 | $920 |
| 2 Bedroom | $70 | $1,100 | $1,170 |
| 3 Bedroom | $140 | $1,300 | $1,440 |
| 4 Bedroom | $50 | $1,500 | $1,550 |
Affordability — Highland Park, Detroit, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2 |
| Median Home Price | $62,000 |
| Median Household Income | $35,100 |