Cities with the most expensive homes in Michigan
Cities with the most expensive homes in Michigan
Purchasing a home is one of the most important investments there is. More than a place to live, homeownership is an asset with the potential to tremendously rise in value. But with home prices reaching record heights, affordability plays a huge role for buyers.
The typical home value in the United States was a record $351,423 in August, 1.3% higher than the year before.
High mortgage rates are also making monthly payments more expensive; as of Sept. 21, the 30-year fixed mortgage rate sits at 7.19%.
Although home prices have inflated all across the U.S., there are some cities that command a higher price tag than others. Location, size, age, and condition are all contributing factors to home value.
Stacker compiled a list of cities with the most expensive homes in Michigan using data from Zillow. Cities are ranked by the Zillow Home Values Index for all homes as of August 2023. The charts in this story were created automatically using Matplotlib.
#30. Frankfort
- Typical home value: $475,136
- 1-year price change: +5.5%
- 5-year price change: +72.5%
- Metro area: Traverse City, MI
#29. Harbor Springs
- Typical home value: $482,351
- 1-year price change: -1.3%
- 5-year price change: +72.5%
- Metro area: not in a metro area
#28. Elk Rapids
- Typical home value: $486,900
- 1-year price change: +3.0%
- 5-year price change: +77.6%
- Metro area: not in a metro area
#27. Ann Arbor
- Typical home value: $489,157
- 1-year price change: +3.6%
- 5-year price change: +28.4%
- Metro area: Ann Arbor, MI
#26. Beverly Hills
- Typical home value: $506,931
- 1-year price change: +0.9%
- 5-year price change: +32.3%
- Metro area: Detroit-Warren-Dearborn, MI
#25. Cascade
- Typical home value: $512,639
- 1-year price change: +1.6%
- 5-year price change: +46.8%
- Metro area: Grand Rapids-Kentwood, MI
#24. Northville
- Typical home value: $523,258
- 1-year price change: +3.3%
- 5-year price change: +27.8%
- Metro area: Detroit-Warren-Dearborn, MI
#23. Bingham Farms
- Typical home value: $547,129
- 1-year price change: +1.4%
- 5-year price change: +25.5%
- Metro area: Detroit-Warren-Dearborn, MI
#22. Maple City
- Typical home value: $550,830
- 1-year price change: +3.9%
- 5-year price change: +59.9%
- Metro area: Traverse City, MI
#21. Saugatuck
- Typical home value: $554,893
- 1-year price change: +3.5%
- 5-year price change: +68.4%
- Metro area: Holland, MI
#20. Oakland
- Typical home value: $577,355
- 1-year price change: -0.2%
- 5-year price change: +31.2%
- Metro area: Detroit-Warren-Dearborn, MI
#19. Bloomfield Hills
- Typical home value: $580,362
- 1-year price change: +1.0%
- 5-year price change: +33.6%
- Metro area: Detroit-Warren-Dearborn, MI
#18. New Buffalo
- Typical home value: $580,740
- 1-year price change: -1.6%
- 5-year price change: +58.2%
- Metro area: Niles, MI
#17. Douglas
- Typical home value: $581,230
- 1-year price change: +0.4%
- 5-year price change: +54.7%
- Metro area: Holland, MI
#16. East Grand Rapids
- Typical home value: $583,174
- 1-year price change: +2.7%
- 5-year price change: +51.5%
- Metro area: Grand Rapids-Kentwood, MI
#15. Suttons Bay
- Typical home value: $587,862
- 1-year price change: -2.3%
- 5-year price change: +70.7%
- Metro area: Traverse City, MI
#14. Glen Arbor
- Typical home value: $603,894
- 1-year price change: -2.8%
- 5-year price change: +51.8%
- Metro area: Traverse City, MI
#13. Birmingham
- Typical home value: $607,910
- 1-year price change: -0.7%
- 5-year price change: +24.9%
- Metro area: Detroit-Warren-Dearborn, MI
#12. Empire
- Typical home value: $638,557
- 1-year price change: +1.5%
- 5-year price change: +60.1%
- Metro area: Traverse City, MI
#11. Union Pier
- Typical home value: $677,473
- 1-year price change: -2.5%
- 5-year price change: +63.6%
- Metro area: Niles, MI
#10. Grosse Pointe Shores
- Typical home value: $680,856
- 1-year price change: +2.0%
- 5-year price change: +28.1%
- Metro area: Detroit-Warren-Dearborn, MI
#9. Northport
- Typical home value: $707,127
- 1-year price change: +1.5%
- 5-year price change: +64.7%
- Metro area: Traverse City, MI
#8. Harbert
- Typical home value: $723,984
- 1-year price change: +1.0%
- 5-year price change: +58.7%
- Metro area: Niles, MI
#7. Lake Leelanau
- Typical home value: $754,991
- 1-year price change: +2.0%
- 5-year price change: +64.4%
- Metro area: Traverse City, MI
#6. Kewadin
- Typical home value: $765,894
- 1-year price change: +4.0%
- 5-year price change: +83.6%
- Metro area: not in a metro area
#5. Franklin
- Typical home value: $775,455
- 1-year price change: +1.9%
- 5-year price change: +37.0%
- Metro area: Detroit-Warren-Dearborn, MI
#4. Lakeside
- Typical home value: $793,402
- 1-year price change: -4.7%
- 5-year price change: +55.0%
- Metro area: Niles, MI
#3. Orchard Lake
- Typical home value: $883,289
- 1-year price change: -0.1%
- 5-year price change: +34.4%
- Metro area: Detroit-Warren-Dearborn, MI
#2. Leland
- Typical home value: $1,054,489
- 1-year price change: +3.8%
- 5-year price change: +95.1%
- Metro area: Traverse City, MI
#1. Lake Angelus
- Typical home value: $1,549,889
- 1-year price change: -2.4%
- 5-year price change: +39.8%
- Metro area: Detroit-Warren-Dearborn, MI
This story features data reporting and writing by Elena Cox, and is part of a series utilizing data automation across 50 states.
