Cities with the most expensive homes in Detroit metro area

Written by:
April 19, 2023
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Cities with the most expensive homes in Detroit metro area

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. Given the current state of the real estate market, housing affordability plays a determining role for buyers. As of April 4, 2023, the 30-year fixed mortgage rate sits at 6.3%. As a result of higher mortgage rates across the board, home prices have risen significantly. The typical home value in the United States increased over the last year by 4.4% to $328,604.

Although home prices have inflated all across the U.S., there are definitely certain areas that have a higher price tag than others. Location, size, age, and condition are all contributing factors to home value. Whether you choose to hold off your home-buying plans in hopes of the market cooling down or are looking to buy ASAP, it's good to educate yourself on the market in different cities.

Stacker compiled a list of cities with the most expensive homes in Detroit using data from Zillow. Cities are ranked by the Zillow Home Values Index for all homes as of February 2023. The ZVHI represents a seasonally adjusted price for the middle market for all homes. Data was available for 153 cities and towns in Detroit. Charts for each city show the monthly typical home value since January 2018.

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#30. Commerce, MI

- Typical home value: $366,934
- 1-year price change: +2.8%
- 5-year price change: +32.6%

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#29. Clarkston, MI

- Typical home value: $370,249
- 1-year price change: +2.2%
- 5-year price change: +36.9%

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#28. Macomb, MI

- Typical home value: $372,725
- 1-year price change: +3.5%
- 5-year price change: +34.7%

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#27. Brighton, MI

- Typical home value: $381,204
- 1-year price change: +5.3%
- 5-year price change: +40.1%

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#26. Troy, MI

- Typical home value: $385,969
- 1-year price change: +1.3%
- 5-year price change: +26.7%

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#25. New Hudson, MI

- Typical home value: $394,052
- 1-year price change: +2.9%
- 5-year price change: +34.4%

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#24. Plymouth, MI

- Typical home value: $395,158
- 1-year price change: +5.3%
- 5-year price change: +30.1%

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#23. West Bloomfield, MI

- Typical home value: $397,168
- 1-year price change: +0.7%
- 5-year price change: +33.6%

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#22. Grosse Pointe, MI

- Typical home value: $398,160
- 1-year price change: +1.5%
- 5-year price change: +25.0%

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#21. Rochester Hills, MI

- Typical home value: $400,490
- 1-year price change: +2.3%
- 5-year price change: +32.7%

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#20. Washington, MI

- Typical home value: $400,662
- 1-year price change: +4.6%
- 5-year price change: +35.1%

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#19. Pleasant Ridge, MI

- Typical home value: $411,698
- 1-year price change: +3.3%
- 5-year price change: +21.6%

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#18. Milford, MI

- Typical home value: $411,736
- 1-year price change: +2.4%
- 5-year price change: +33.4%

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#17. Novi, MI

- Typical home value: $415,343
- 1-year price change: +1.8%
- 5-year price change: +27.3%

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#16. South Lyon, MI

- Typical home value: $423,072
- 1-year price change: +4.5%
- 5-year price change: +35.3%

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#15. Rochester, MI

- Typical home value: $426,534
- 1-year price change: +2.2%
- 5-year price change: +23.5%

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#14. Grosse Pointe Farms, MI

- Typical home value: $428,332
- 1-year price change: +2.8%
- 5-year price change: +29.2%

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#13. Leonard, MI

- Typical home value: $429,464
- 1-year price change: +1.5%
- 5-year price change: +29.8%

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#12. Grosse Pointe Park, MI

- Typical home value: $430,115
- 1-year price change: +1.4%
- 5-year price change: +34.8%

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#11. Huntington Woods, MI

- Typical home value: $440,411
- 1-year price change: +0.3%
- 5-year price change: +10.3%

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#10. Beverly Hills, MI

- Typical home value: $477,105
- 1-year price change: +1.9%
- 5-year price change: +22.8%

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#9. Northville, MI

- Typical home value: $494,821
- 1-year price change: +5.2%
- 5-year price change: +27.6%

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#8. Bingham Farms, MI

- Typical home value: $527,996
- 1-year price change: +1.0%
- 5-year price change: +20.4%

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#7. Bloomfield Hills, MI

- Typical home value: $552,236
- 1-year price change: +2.7%
- 5-year price change: +32.3%

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#6. Oakland, MI

- Typical home value: $558,628
- 1-year price change: +3.7%
- 5-year price change: +31.4%

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#5. Birmingham, MI

- Typical home value: $580,218
- 1-year price change: +1.9%
- 5-year price change: +30.2%

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#4. Grosse Pointe Shores, MI

- Typical home value: $637,260
- 1-year price change: +4.0%
- 5-year price change: +28.1%

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#3. Franklin, MI

- Typical home value: $728,827
- 1-year price change: +2.9%
- 5-year price change: +32.5%

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#2. Orchard Lake, MI

- Typical home value: $832,119
- 1-year price change: +5.5%
- 5-year price change: +33.0%

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#1. Lake Angelus, MI

- Typical home value: $1,447,986
- 1-year price change: +5.1%
- 5-year price change: +46.0%

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