Dearborn Heights appreciation rates and housing market information

Dearborn Heights housing market information

With a population of 58,264, 23,913 total housing units (homes and apartments), and a median house value of $123,567, house prices in Dearborn Heights are solidly below the national average.

single-family detached homes are the single most common housing type in Dearborn Heights, accounting for 88.28% of the city's housing units. Other types of housing that are prevalent in Dearborn Heights include large apartment complexes or high rise apartments (5.41%), duplexes, homes converted to apartments, or other small apartment buildings (2.78%), mobile homes or trailers (2.01%), and a few row houses and other attached homes (1.52%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in Dearborn Heights. Owner-occupied housing accounts for 83.13% of Dearborn Heights's homes, and 71.22% have either three or four bedrooms, which is average sized relative to America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Dearborn Heights's housing was primarily built during this period, from the '40s through the '60s. A full 83.39% of the city's housing hails from this era. Other housing ages represented in Dearborn Heights include homes built between 1970-1994 (10.06%), and housing constructed from 1939 and earlier (5.25%). There's also some housing in Dearborn Heights built between 1995 and later (1.30%).

Dearborn Heights home appreciation rates

Homes have actually lost value in Dearborn Heights over the last ten years, as the appreciation rate has seen a decline of -2.70% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Dearborn Heights home appreciation rates at 2.67%, which equates to an annual appreciation rate of 10.68%.

Over the last year, Dearborn Heights appreciation rates have trailed the rest of the nation. In the last twelve months, Dearborn Heights's appreciation rate has been -12.35%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Dearborn Heights were at 2.67%, which equates to an annual appreciation rate of 10.68%.

Importantly, this makes Dearborn Heights one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Michigan, our data show that Dearborn Heights's latest annual appreciation rate is higher than 2% of the other cities and towns in Michigan.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Dearborn Heights differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Dearborn Heights - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 1990, to assist you in making the best Dearborn Heights real estate investment or home purchase decisions.