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  5. /Downtown, Detroit, MI - 48226

Downtown, Detroit, MI—48226

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$325,000
5.8% YoY Growth
Household Income
$69,800
22.3% YoY Growth
Days on Market
58
46.0% Shorter YoY
Home Price Forecast
0.7%
Median Rent
$2,200
4.4% YoY Growth
1-Bed Rent
$1,950
3.8% YoY Growth
2-Bed Rent
$2,850
12.7% YoY Growth
3-Bed Rent
N/A
N/A
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Downtown, Detroit, MI

As of May '26, the median home price in Downtown, Detroit, MI is $325,000, with a year-over-year change of -5.8%. This indicates that home prices in Downtown, Detroit, MI are decreasing. According to Zillow, the 1-year price projection is 0.7%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$325,000-5.8%
Single Family N/AN/A
Condos $323,000-5.3%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed

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  • Affordability
  • Rentals and Section 8
    • $252,000
    -3.4%
    2 Bed
    		$383,000-7.3%
    3 Bed
    		N/AN/A
    4 Bed
    		N/AN/A
    5 Bed N/AN/A
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    % of Housing Stock

    Studio
    17.8%
    1 Bedroom
    56.0%
    2 Bedrooms
    23.1%
    3 Bedrooms
    2.7%
    4 Bedrooms
    0.3%
    5+ Bedrooms
    0.1%

    Rental Trends — Downtown, Detroit, MI

    As of July '25, Rentcast reports the average rent in Downtown, Detroit, MI is $2,390, with a year-over-year rent change of -4.4%. Per bedroom, the median rent as of July '25 in Downtown, Detroit, MI is studios: $1,660, 1-bedrooms: $2,160, 2-bedrooms: $3,020. The most common rental property sizes in Downtown, Detroit, MI are 1-bedroom and 2-bedroom, accounting for 58.6% and 21.2% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$2,200$2,390
    Studio Rent $1,700$1,660
    1 Bed Rent $1,950$2,160
    2 Bed Rent $2,850$3,020
    3 Bed Rent N/AN/A
    4 Bed Rent N/AN/A
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    % of Rental Stock

    Studio
    18.2%
    1 Bedroom
    58.6%
    2 Bedrooms
    21.2%
    3 Bedrooms
    2.1%

    Property Listings — Downtown, Detroit, MI

    As of May '26, Realtor.com reports that the median days on market for a home in Downtown, Detroit, MI is 58. This is a decrease of -46.0% 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 15.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$385,0008.0%
    Listing Count
    		5594.0%
    Listings as % of Homes0.6%94.0%
    Days on Market
    		58-46.0%
    Loading chart...

    Demographics — Downtown, Detroit, MI

    As of the latest ACS Survey released in 2023, Downtown, Detroit, MI has a population of 6,890, which has remained stable by -0.6% over the past 5 years. Downtown, Detroit, MI is a less popular place for families, as children make up 1.8% of the population. The area has a highly educated workforce, with 52.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 23.7% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		6,890-0.6%
    % Under 18
    		1.8%-51.4%
    % Seniors
    		13.1%13.9%
    % WFH
    		23.7%438.6%
    % w/ College Degree
    		52.7%5.0%
    Loading chart...

    As of the latest ACS Survey released in 2023, Downtown, Detroit, MI is a predominantly black area, with 44.5% of the population identifying as black. The black population has grown by 11.0% in the last 5 years. The second most common race or ethnicity in Downtown, Detroit, MI is white, making up 39.3% of the population. Foreign-born residents account for 9.3% of the population in Downtown, Detroit, MI, and this percentage has decreased by 19.1% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		39.3%-6.0%
    % Black
    		44.5%11.0%
    % Hispanic
    		4.3%-14.0%
    % Asian
    		5.9%-43.3%
    % Foreign Born
    		9.3%-19.1%
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    Mortgage and Risk — Downtown, Detroit, MI

    According to HUD data as of 2023, there were 18 mortgage originations in Downtown, Detroit, MI, of which 78.0% of loans were conventional mortgages. The average loan-to-value was 70.0%, with 22.0% above 90% LTV (very high). This implies large mortgage risk in Downtown, Detroit, MI. Investor activity is low, as 0.0% of loans were by investors. 6.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		18
    % Conventional Loans
    		78.0%
    % Government Loans
    		22.0%
    % Investor Loans
    		0.0%
    % Second Loans
    		0.0%
    % Cash Out Refinance
    		6.0%
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    Rentals and Section 8 — Downtown, Detroit, MI

    Downtown, Detroit, MI lacks sufficient Section 8 program data for analysis.

    Section 8 Market Size

    Total Units under HUD
    		339
    Total Units Section 8
    		339
    % Rentals under Section 8
    		9.3%
    % Occupied Section 8
    		89.5%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom-$310$1,950$1,640
    2 Bedroom-$780$2,850$2,070
    3 BedroomN/AN/A$2,540
    4 BedroomN/AN/A$2,740

    Affordability — Downtown, Detroit, MI

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio4.9
    Median Home Price$325,000
    Median Household Income$69,800

    Downtown, Detroit, MI — ZIP Code Boundary Map

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    Nearby ZIP Codes

    Midtown, Detroit, MI

    48201

    Corktown, Detroit, MI

    48216

    Lafayette Park, Detroit, MI

    48207

    Woodbridge, Detroit, MI

    48208

    Poletown East, Detroit, MI

    48211

    Frequently Asked Questions