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Grosse Pointe Farms, Grosse Pointe Woods, MI—48236

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$412,000
4.3% YoY Growth
Household Income
$131,000
26.1% YoY Growth
Days on Market
30
6.0% Shorter YoY
Home Price Forecast
1.2%
Median Rent
$1,950
0.5% YoY Growth
1-Bed Rent
$1,250
N/A
2-Bed Rent
$1,400
7.6% YoY Growth
3-Bed Rent
$2,100
20.7% YoY Growth
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Grosse Pointe Farms, Grosse Pointe Woods, MI

As of May '26, the median home price in Grosse Pointe Farms, Grosse Pointe Woods, MI is $412,000, with a year-over-year change of 4.3%. This indicates that home prices in Grosse Pointe Farms, Grosse Pointe Woods, MI are increasing. According to Zillow, the 1-year price projection is 1.2%, suggesting an increase housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$412,0004.3%
Single Family $412,0004.0%
Condos $424,0001.4%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed

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  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		$265,0002.7%
    3 Bed
    		$358,0002.9%
    4 Bed
    		$580,0003.9%
    5 Bed $1,040,7345.5%
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    % of Housing Stock

    Studio
    0.9%
    1 Bedroom
    1.9%
    2 Bedrooms
    14.9%
    3 Bedrooms
    50.0%
    4 Bedrooms
    25.7%
    5+ Bedrooms
    6.6%

    Rental Trends — Grosse Pointe Farms, Grosse Pointe Woods, MI

    As of July '25, Rentcast reports the average rent in Grosse Pointe Farms, Grosse Pointe Woods, MI is $2,130, with a year-over-year rent change of -0.5%. Per bedroom, the median rent as of July '25 in Grosse Pointe Farms, Grosse Pointe Woods, MI is 1-bedrooms: $1,270, 2-bedrooms: $1,460, 3-bedrooms: $2,220, 4-bedrooms: $2,620. The most common rental property sizes in Grosse Pointe Farms, Grosse Pointe Woods, MI are 3-bedroom and 2-bedroom, accounting for 35.4% and 31.7% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$1,950$2,130
    Studio Rent N/AN/A
    1 Bed Rent $1,250$1,270
    2 Bed Rent $1,400$1,460
    3 Bed Rent $2,100$2,220
    4 Bed Rent $2,800$2,620
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    % of Rental Stock

    Studio
    8.2%
    1 Bedroom
    16.4%
    2 Bedrooms
    31.7%
    3 Bedrooms
    35.4%
    4 Bedrooms
    2.5%
    5+ Bedrooms
    5.8%

    Property Listings — Grosse Pointe Farms, Grosse Pointe Woods, MI

    As of May '26, Realtor.com reports that the median days on market for a home in Grosse Pointe Farms, Grosse Pointe Woods, MI is 30. This is a decrease of -6.0% 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 19.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$448,0001.0%
    Listing Count
    		103-14.0%
    Listings as % of Homes0.8%-14.0%
    Days on Market
    		30-6.0%
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    Demographics — Grosse Pointe Farms, Grosse Pointe Woods, MI

    As of the latest ACS Survey released in 2023, Grosse Pointe Farms, Grosse Pointe Woods, MI has a population of 31,400, which has increased by 5.7% over the past 5 years. Grosse Pointe Farms, Grosse Pointe Woods, MI is a moderately popular place for families, as children make up 22.8% of the population. The area has a highly educated workforce, with 67.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 22.9% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		31,4005.7%
    % Under 18
    		22.8%-3.4%
    % Seniors
    		21.8%9.5%
    % WFH
    		22.9%281.7%
    % w/ College Degree
    		67.5%9.6%
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    As of the latest ACS Survey released in 2023, Grosse Pointe Farms, Grosse Pointe Woods, MI is a predominantly white area, with 81.7% of the population identifying as white. The white population has shrunk by 3.2% in the last 5 years. The second most common race or ethnicity in Grosse Pointe Farms, Grosse Pointe Woods, MI is black, making up 10.9% of the population. Foreign-born residents account for 6.9% of the population in Grosse Pointe Farms, Grosse Pointe Woods, MI, and this percentage has remained stable as of the ACS Survey 5 years prior, suggesting immigration has remained steady.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		81.7%-3.2%
    % Black
    		10.9%14.7%
    % Hispanic
    		1.4%-39.1%
    % Asian
    		1.8%-21.7%
    % Foreign Born
    		6.9%0.0%
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    Mortgage and Risk — Grosse Pointe Farms, Grosse Pointe Woods, MI

    According to HUD data as of 2023, there were 644 mortgage originations in Grosse Pointe Farms, Grosse Pointe Woods, MI, of which 92.0% of loans were conventional mortgages. The average loan-to-value was 59.0%, with 23.0% above 90% LTV (very high). This implies large mortgage risk in Grosse Pointe Farms, Grosse Pointe Woods, MI. Investor activity is low, as 0.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		644
    % Conventional Loans
    		92.0%
    % Government Loans
    		8.0%
    % Investor Loans
    		0.0%
    % Second Loans
    		0.0%
    % Cash Out Refinance
    		11.0%
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    Rentals and Section 8 — Grosse Pointe Farms, Grosse Pointe Woods, MI

    As of 2024, the percent of homes in Grosse Pointe Farms, Grosse Pointe Woods, MI under the Section 8 program is 2.4%. 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. 1-bedroom and 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Grosse Pointe Farms, Grosse Pointe Woods, MI, because HUD payments exceed market rent, while 4-bedroom units do not.

    Section 8 Market Size

    Total Units under HUD
    		76
    Total Units Section 8
    		31
    % Rentals under Section 8
    		2.4%
    % Occupied Section 8
    		83.0%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom$210$1,250$1,460
    2 Bedroom$450$1,400$1,850
    3 Bedroom$170$2,100$2,270
    4 Bedroom-$350$2,800$2,450

    Affordability — Grosse Pointe Farms, Grosse Pointe Woods, MI

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio2.7
    Median Home Price$412,000
    Median Household Income$131,000

    Grosse Pointe Farms, Grosse Pointe Woods, MI — ZIP Code Boundary Map

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