Aug 2026
$102K
-2.7% year-over-year
How it’s calculated
Rolling 3-month median sale price vs. same 3 months one year prior.
Detroit, MI housing market
Detroit, MI median sale price $102K in Aug 2026, down 2.7% year over year. Also days on market, price cuts, affordability and ZIP-code figures.
The median sale price in Detroit, MI is $102K as of Aug 2026, down 2.7% from a year earlier. The decline is steeper than in most of the 195 U.S. metros Pecan Street ranks on this measure. FHFA's repeat-sales index for the metro points the other way: up 5.2% through Q2 2026.
Detroit has the lowest median sale price of the four Michigan metros Pecan Street tracks ($102K); Lansing ($157K) is next. On median days on market, Detroit (43 days) ranks 3rd of the four Michigan metros, between Lansing (46 days) and Grand Rapids (42 days). On share of listings with a price cut, Detroit (41%) ranks 3rd of the four Michigan metros, between Lansing (42%) and Ann Arbor (38%).
Listings spent a median 43 days on market in Sep 2026, fewer than in most of the 195 metros. 41% of active listings carry a price cut, 1.5 points more than a year earlier. That share is higher than in most of the 195 metros. Building permits authorized 550 new housing units in Aug 2026.
At the 7.45% 30-year fixed rate with 20% down, principal and interest on a median-priced home come to $569 a month; at 28% of gross income, that takes about $24K a year. The median sale price equals about 5 years of HUD Fair Market Rent, a ratio down 5.6% from a year earlier. That ratio is the lowest of the 195 metros. Active listings ask a median $186 per square foot, up 1.6% from a year earlier.
In eight of the 12 ZIP codes in the table below, median list prices are lower than a year earlier; four are higher.
Headline
Oct 6, 2026
7.45%
30-year fixed
Where it comes from
National benchmark: Optimal Blue OBMMI 30-year conforming, via FRED. An average of rates borrowers have actually locked, updated daily.
The same rate appears on every market page.
Principal & interest
$569/mo
$24K/yr income needed
How it’s calculated
Payment — this market’s median sale price with 20% down, on a 30-year fixed loan at the rate shown. Principal and interest only — no property tax, insurance, PMI or HOA.
Income needed — that payment at 28% of gross income. A rule of thumb, not a lending decision.
How Detroit compares to other U.S. metros
| Price-to-rent | ↓195th of 195 |
|---|---|
| Home-price growth | ↓174th of 195 |
| Days on market | ↓169th of 195 |
| Price cuts | ↑64th of 195 (top 33%) |
Rank across the U.S. metros Pecan Street tracks, on market data alone — a higher rank means more of that measure (more price cuts, faster price growth, a wider asking-vs-sale gap, a higher price-to-rent ratio, or more days on market). The bar shows where this metro sits within that metric’s own cohort (left is more, right is less); ↑ and ↓ mark the positions furthest from the middle, and rows are ordered the same way. Metrics without data for this metro are omitted.
Affordability
| Price-to-rent ratio | ≈ 5 -5.6% YoY ↓195th of 195 |
|---|---|
| Asking price / sq ft | $186 +1.6% YoY |
Price-to-rent divides the median sale price by the annual HUD Fair Market Rent (a 3-bedroom, 40th-percentile benchmark), so it is a directional rent-vs-buy read, not a cap rate; its year-over-year change is directional in the same way. Asking price per square foot is the median across active for-sale listings (Realtor.com), as of Sep 2026. The bar under a figure places this metro among the U.S. metros we track on that measure, highest first.
Market pressure
| Listings with a price cut | ≈ 41% +1.5 pts YoY ↑64th of 195 (top 33%) |
|---|---|
| New housing units permitted | 550 |
Price-cut share is the portion of active for-sale listings that have taken a price reduction (Realtor.com), as of Sep 2026. New housing units authorized by residential building permits in the metro that month — new supply in the pipeline, which counts of existing listings don't capture (US Census Bureau, Building Permits Survey), as of Aug 2026. The bar under a figure places this metro among the U.S. metros we track on that measure, highest first.
Market facts
| ZIPs with listing data | 12 shown of 214 |
|---|---|
| MLS board of record | Realcomp II |
| Price methodology | Redfin vs FHFA HPI |
| Data as of | Aug 2026 |
Recent signals
No signals flagged for this market right now.
Price reconciliation
red · 7.9ppRedfin (city) -2.7% | FHFA HPI · Q2 2026 +5.2% |
Year-over-year home-price change from two independent methods — Redfin (monthly sold price) and FHFA (quarterly repeat-sales index). When they diverge, the market is mid-shift; cite the figure with that in mind.
Market dispatches
Citable market dispatches for Detroit → Latest dispatch: Aug 14, 2026.
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Start free trialZIP-level data
| ZIP | Median list price | Active listings | New listings | Price reductions | Days on market | Home value |
|---|---|---|---|---|---|---|
| 48042 | $577K↓ | 139↑ | 50↓ | 54↑ | 47↓ | $440K↑ |
| 48066 | $175K↓ | 142↑ | 64↓ | 84↑ | 37↑ | $174K↑ |
| 48073 | $360K↑ | 155↑ | 70↑ | 84↑ | 37↑ | $323K↑ |
| 48089 | $136K↑ | 143↑ | 60↓ | 68↑ | 44↑ | $130K↓ |
| 48205 | $70K↓ | 216↑ | 54↓ | 50↓ | 66↓ | $53K↓ |
| 48219 | $90K↓ | 171↓ | 50↓ | 58↓ | 57↑ | $91K↓ |
| 48221 | $172K↓ | 186↓ | 46↓ | 64↓ | 54↑ | $138K↓ |
| 48224 | $92K↓ | 271↓ | 50↓ | 92↓ | 64↑ | $82K↓ |
| 48227 | $90K↓ | 197↓ | 64↓ | 48↓ | 51↑ | $71K↓ |
| 48228 | $83K↓ | 224↑ | 64↓ | 74↑ | 57↑ | $71K↑ |
| 48235 | $129K↑ | 173↓ | 62↓ | 60↑ | 62↑ | $97K↓ |
| 48238 | $86K↑ | 169↑ | 42↓ | 50↑ | 75↑ | $57K↓ |
ZIP figures from Realtor.com listing data; home value from Zillow ZHVI. ZIP codes shown have the most complete listing-data history and active for-sale inventory in this metro; the latest available month is shown per ZIP. Arrows show the direction of each figure against the same three months a year earlier; no arrow means the change rounds to zero or the comparison isn't available.