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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Grosse Pointe, MI Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Grosse Pointe, MI Housing Market Trends

With 5,551 people, 2,252 houses or apartments, and a median cost of homes of $533,336, Grosse Pointe house prices are not only among the most expensive in Michigan, Grosse Pointe real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Grosse Pointe, accounting for 69.55% of the city's housing units. Other types of housing that are prevalent in Grosse Pointe include row houses and other attached homes ( 13.80%), duplexes, homes converted to apartments or other small apartment buildings ( 11.94%), and a few large apartment complexes or high rise apartments ( 4.71%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Grosse Pointe. Owner-occupied housing accounts for 86.09% of Grosse Pointe's homes, and 66.99% have either three or four bedrooms, which is average sized relative to America.

The housing in Grosse Pointe was primarily built before 1939 ( 62.61%), making the housing stock in Grosse Pointe some of the oldest overall in America, although there is a range of ages of homes in Grosse Pointe. The next most important housing age is between 1940-1969 ( 29.52%), followed by between 1970-1999 ( 6.58%). There's also some housing in Grosse Pointe built between 2000 and later ( 1.30%).

Grosse Pointe Home Appreciation Rates

Grosse Pointe's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Grosse Pointe during the period has been just 5.26%, which is lower than 70% of US communities.

Over the last year, Grosse Pointe appreciation rates have trailed the rest of the nation. In the last twelve months, Grosse Pointe's appreciation rate has been 4.71%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Grosse Pointe were at -0.26%, which equates to an annual appreciation rate of -1.02%.

Relative to Michigan, our data show that Grosse Pointe's latest annual appreciation rate is lower than 80% of the other cities and towns in Michigan.

Average Home Values

Median Home Value

$533,336

Grosse Pointe, MI Home Prices
> $1,140,000
$855,001 - $1,140,000
$570,001 - $855,000
$456,001 - $570,000
$342,001 - $456,000
$228,001 - $342,000
$114,001 - $228,000
$57,001 - $114,000
$0 - $57,000
3.4%
3.4%
8.8%
8.8%
19.7%
19.7%
13.4%
13.4%
26.4%
26.4%
16.7%
16.7%
5.6%
5.6%
6.0%
6.0%
0.2%
0.2%
0% 100.0%
% of Homes
Very High

for Michigan

Very High

for nation

Number of Homes And Apartments:

2,252

Grosse Pointe Appreciation Rates

Rent & Ownership

Average Market Rent:

$2,526 / per month

Homeownership Rate

Owners
Renters
86.1%
86.1%
13.9%
13.9%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
8.6%
8.6%
91.4%
91.4%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
1.3%
1.3%
6.6%
6.6%
29.5%
29.5%
62.6%
62.6%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
69.5%
69.5%
13.8%
13.8%
11.9%
11.9%
4.7%
4.7%
0.0%
0.0%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.0%
0.0%
3.5%
3.5%
16.9%
16.9%
37.9%
37.9%
29.1%
29.1%
12.6%
12.6%
0% 100.0%
% of Homes