Harper Woods, MI 48225 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Harper Woods, MI—48225

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$152,000

3.2% YoY Growth

Household Income

$59,200

23.8% YoY Growth

Days on Market

23.0% Shorter YoY

Home Price Forecast

1.9%

Median Rent

$1,400

4.4% YoY Growth

1-Bed Rent

$975

30.0% YoY Growth

2-Bed Rent

$1,100

5.1% YoY Growth

3-Bed Rent

$1,600

1.3% YoY Growth

Home Price Trends — Harper Woods, MI

As of Nov '25, the median home price in Harper Woods, MI is $152,000, with a year-over-year change of 3.2%. This indicates that home prices in Harper Woods, MI are increasing. According to Zillow, the 1-year price projection is 1.9%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$152,000	3.2%
Single Family	$157,000	4.0%
Condos	$57,000	0.0%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Harper Woods, MI

As of July '25, Rentcast reports the average rent in Harper Woods, MI is $1,410, with a year-over-year rent change of 4.4%. Per bedroom, the median rent as of July '25 in Harper Woods, MI is 1-bedrooms: $1,040, 2-bedrooms: $1,230, 3-bedrooms: $1,540, 4-bedrooms: $1,720. The most common rental property sizes in Harper Woods, MI are 3-bedroom and 2-bedroom, accounting for 52.0% and 19.6% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$1,400	$1,410
Studio Rent	N/A	N/A
1 Bed Rent	$975	$1,040
2 Bed Rent	$1,100	$1,230
3 Bed Rent	$1,600	$1,540
4 Bed Rent	$1,600	$1,720

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% of Rental Stock

Studio

6.7%

1 Bedroom

11.4%

2 Bedrooms

19.6%

3 Bedrooms

52.0%

4 Bedrooms

10.2%

Property Listings — Harper Woods, MI

As of Nov '25, Realtor.com reports that the median days on market for a home in Harper Woods, MI is 60. This is a decrease of -23.0% 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 20.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$135,000	12.0%
Listing Count	118	1.0%
Listings as % of Homes	1.1%	1.0%
Days on Market	60	-23.0%

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Demographics — Harper Woods, MI

As of the latest ACS Survey released in 2023, Harper Woods, MI has a population of 16,300, which has increased by 14.1% over the past 5 years. Harper Woods, MI is a popular place for families, as children make up 26.9% of the population. The area has a poorly educated workforce, with 23.4% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.6% reporting working from home.

Metric	Latest Census	YoY % Change
Population	16,300	14.1%
% Under 18	26.9%	7.2%
% Seniors	13.9%	2.2%
% WFH	8.6%	473.3%
% w/ College Degree	23.4%	3.5%

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As of the latest ACS Survey released in 2023, Harper Woods, MI is a predominantly black area, with 66.2% of the population identifying as black. The black population has grown by 11.6% in the last 5 years. The second most common race or ethnicity in Harper Woods, MI is white, making up 28.3% of the population. Foreign-born residents account for 2.4% of the population in Harper Woods, MI, and this percentage has decreased by 41.5% 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	28.3%	-13.5%
% Black	66.2%	11.6%
% Hispanic	1.5%	87.5%
% Asian	0.4%	-81.8%
% Foreign Born	2.4%	-41.5%

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Mortgage and Risk — Harper Woods, MI

According to HUD data as of 2023, there were 292 mortgage originations in Harper Woods, MI, of which 64.0% of loans were conventional mortgages. The average loan-to-value was 75.0%, with 51.0% above 90% LTV (very high). This implies large mortgage risk in Harper Woods, MI. Investor activity is low, as 4.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	292
% Conventional Loans	64.0%
% Government Loans	36.0%
% Investor Loans	4.0%
% Second Loans	1.0%
% Cash Out Refinance	12.0%

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Rentals and Section 8 — Harper Woods, MI

As of 2024, the percent of homes in Harper Woods, MI under the Section 8 program is 21.7%. 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. In Harper Woods, MI, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.

Section 8 Market Size

Total Units under HUD	448
Total Units Section 8	448
% Rentals under Section 8	21.7%
% Occupied Section 8	88.8%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	$285	$975	$1,260
2 Bedroom	$490	$1,100	$1,590
3 Bedroom	$350	$1,600	$1,950
4 Bedroom	$510	$1,600	$2,110

Harper Woods, MI—48225

Key Metrics at a Glance

Home Price Trends — Harper Woods, MI

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Harper Woods, MI

% of Rental Stock

Property Listings — Harper Woods, MI

Demographics — Harper Woods, MI

Race and Ethnicity

Mortgage and Risk — Harper Woods, MI

Mortgages

Rentals and Section 8 — Harper Woods, MI

Section 8 Market Size

Section 8 Opportunity

Affordability — Harper Woods, MI

Home Price to Income Ratio

Harper Woods, MI — ZIP Code Boundary Map

Nearby ZIP Codes

Morningside, Detroit, MI

Eastpointe, MI

Grosse Pointe Farms, Grosse Pointe Woods, MI

Saint Clair Shores, MI

Regent Park, Detroit, MI

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	2.3
Median Home Price	$152,000
Median Household Income	$59,200

Harper Woods, MI—48225

Key Metrics at a Glance

Home Price Trends — Harper Woods, MI

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Harper Woods, MI

% of Rental Stock

Property Listings — Harper Woods, MI

Demographics — Harper Woods, MI

Race and Ethnicity

Mortgage and Risk — Harper Woods, MI

Mortgages

Rentals and Section 8 — Harper Woods, MI

Section 8 Market Size

Section 8 Opportunity

Affordability — Harper Woods, MI

Home Price to Income Ratio

Harper Woods, MI — ZIP Code Boundary Map

Nearby ZIP Codes

Morningside, Detroit, MI

Eastpointe, MI

Grosse Pointe Farms, Grosse Pointe Woods, MI

Saint Clair Shores, MI

Regent Park, Detroit, MI

Frequently Asked Questions

What is the average home price in Harper Woods, MI 48225?

How have home prices in Harper Woods, MI 48225 changed over the past year?

What is the home price projection for Harper Woods, MI 48225?

What are the demographics of Harper Woods, MI 48225?

How long does it take homes to sell in Harper Woods, MI 48225?

What is the average rent price in Harper Woods, MI 48225?