Cities with the most expensive homes in Michigan

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May 30, 2024
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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 $359,402 in April, 4.4% higher than the year before.

High mortgage rates are also making monthly payments more expensive; as of May 23, the 30-year fixed mortgage rate sits at 6.94%.

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 April 2024. The charts in this story were created automatically using Matplotlib.

Metros with the most cities in the top 30 in Michigan
#1. Detroit-Warren-Dearborn, MI: 11
#2. Traverse City, MI: 8
#3. Niles, MI: 4
#4. Grand Rapids-Kentwood, MI: 2
#4. Holland, MI: 2
#6. Ann Arbor, MI: 1

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Stacker

#30. Frankfort

- Typical home value: $489,758
- 1-year price change: +11.8%
- 5-year price change: +75.8%
- Metro area: Traverse City, MI

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Stacker

#29. Huntington Woods

- Typical home value: $490,112
- 1-year price change: +6.3%
- 5-year price change: +28.2%
- Metro area: Detroit-Warren-Dearborn, MI

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Stacker

#28. Harbor Springs

- Typical home value: $492,113
- 1-year price change: +2.3%
- 5-year price change: +68.2%
- Metro area: not in a metro area

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Stacker

#27. Ann Arbor

- Typical home value: $508,176
- 1-year price change: +6.6%
- 5-year price change: +28.8%
- Metro area: Ann Arbor, MI

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Stacker

#26. Beverly Hills

- Typical home value: $528,839
- 1-year price change: +6.0%
- 5-year price change: +34.9%
- Metro area: Detroit-Warren-Dearborn, MI

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#25. Northville

- Typical home value: $534,451
- 1-year price change: +3.1%
- 5-year price change: +28.6%
- Metro area: Detroit-Warren-Dearborn, MI

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Stacker

#24. Cascade

- Typical home value: $536,046
- 1-year price change: +5.7%
- 5-year price change: +47.5%
- Metro area: Grand Rapids-Kentwood, MI

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#23. Maple City

- Typical home value: $551,713
- 1-year price change: +5.3%
- 5-year price change: +70.3%
- Metro area: Traverse City, MI

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Stacker

#22. Bingham Farms

- Typical home value: $559,676
- 1-year price change: +3.9%
- 5-year price change: +26.7%
- Metro area: Detroit-Warren-Dearborn, MI

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#21. Saugatuck

- Typical home value: $562,487
- 1-year price change: +3.8%
- 5-year price change: +63.0%
- Metro area: Holland, MI

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#20. New Buffalo

- Typical home value: $583,135
- 1-year price change: +3.1%
- 5-year price change: +55.7%
- Metro area: Niles, MI

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#19. Suttons Bay

- Typical home value: $590,886
- 1-year price change: +1.5%
- 5-year price change: +70.2%
- Metro area: Traverse City, MI

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#18. Glen Arbor

- Typical home value: $599,099
- 1-year price change: +6.9%
- 5-year price change: +62.9%
- Metro area: Traverse City, MI

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#17. Bloomfield Hills

- Typical home value: $603,684
- 1-year price change: +6.6%
- 5-year price change: +36.1%
- Metro area: Detroit-Warren-Dearborn, MI

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Stacker

#16. Douglas

- Typical home value: $603,685
- 1-year price change: +3.5%
- 5-year price change: +49.1%
- Metro area: Holland, MI

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#15. Oakland

- Typical home value: $603,841
- 1-year price change: +5.4%
- 5-year price change: +35.0%
- Metro area: Detroit-Warren-Dearborn, MI

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#14. East Grand Rapids

- Typical home value: $614,144
- 1-year price change: +7.2%
- 5-year price change: +52.4%
- Metro area: Grand Rapids-Kentwood, MI

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#13. Empire

- Typical home value: $631,899
- 1-year price change: +2.2%
- 5-year price change: +59.8%
- Metro area: Traverse City, MI

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#12. Birmingham

- Typical home value: $644,635
- 1-year price change: +5.7%
- 5-year price change: +27.4%
- Metro area: Detroit-Warren-Dearborn, MI

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#11. Grosse Pointe Shores

- Typical home value: $687,500
- 1-year price change: +2.9%
- 5-year price change: +29.4%
- Metro area: Detroit-Warren-Dearborn, MI

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#10. Union Pier

- Typical home value: $697,292
- 1-year price change: +5.0%
- 5-year price change: +59.9%
- Metro area: Niles, MI

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#9. Northport

- Typical home value: $717,724
- 1-year price change: +5.5%
- 5-year price change: +66.5%
- Metro area: Traverse City, MI

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#8. Harbert

- Typical home value: $764,283
- 1-year price change: +5.3%
- 5-year price change: +50.8%
- Metro area: Niles, MI

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#7. Lake Leelanau

- Typical home value: $771,840
- 1-year price change: +8.1%
- 5-year price change: +73.7%
- Metro area: Traverse City, MI

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#6. Kewadin

- Typical home value: $773,406
- 1-year price change: +9.0%
- 5-year price change: +85.0%
- Metro area: not in a metro area

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#5. Franklin

- Typical home value: $791,947
- 1-year price change: +3.5%
- 5-year price change: +36.1%
- Metro area: Detroit-Warren-Dearborn, MI

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#4. Lakeside

- Typical home value: $797,227
- 1-year price change: +4.7%
- 5-year price change: +51.0%
- Metro area: Niles, MI

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#3. Orchard Lake

- Typical home value: $909,346
- 1-year price change: +2.4%
- 5-year price change: +34.9%
- Metro area: Detroit-Warren-Dearborn, MI

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#2. Leland

- Typical home value: $1,081,115
- 1-year price change: +6.3%
- 5-year price change: +97.4%
- Metro area: Traverse City, MI

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#1. Lake Angelus

- Typical home value: $1,593,150
- 1-year price change: +4.3%
- 5-year price change: +42.3%
- 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.

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