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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.



Ann Arbor, 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 Q3 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2021 (latest available). Updated annually.

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

Ann Arbor, MI Housing Market Trends

With a population of 119,875, 49,661 total housing units (homes and apartments), and a median house value of $534,111, Ann Arbor house prices are not only among the most expensive in Michigan, Ann Arbor 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 Ann Arbor, accounting for 41.93% of the city's housing units. Other types of housing that are prevalent in Ann Arbor include large apartment complexes or high rise apartments ( 37.57%), duplexes, homes converted to apartments or other small apartment buildings ( 10.63%), and a few row houses and other attached homes ( 9.56%).

People in Ann Arbor primarily live in small (one, two or no bedroom) single-family detached homes. Ann Arbor has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Ann Arbor built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Ann Arbor built between 1940-1969 ( 34.12%). A lesser amount of the housing stock also hails from before 1939 ( 15.00%). There's also some housing in Ann Arbor built between 2000 and later ( 11.01%).

Ann Arbor Home Appreciation Rates

Appreciation rates for homes in Ann Arbor have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 84.00%, which ranks in the top 50% nationwide. This equates to an annual average Ann Arbor house appreciation rate of 6.29%.

Over the last year, Ann Arbor appreciation rates have trailed the rest of the nation. In the last twelve months, Ann Arbor's appreciation rate has been 1.02%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Ann Arbor were at 6.77%, which equates to an annual appreciation rate of 29.97%.

Importantly, NeighborhoodScout’s exclusive research found that Ann Arbor's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which may signal the city’s near-future real estate investment strength.

Relative to Michigan, our data show that Ann Arbor's latest annual appreciation rate is lower than 80% 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 Ann Arbor differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Ann Arbor - 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 2000, to assist you in making the best Ann Arbor real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$534,111

Ann Arbor, MI Home Prices
> $1,298,000
$974,001 - $1,298,000
$649,001 - $974,000
$519,001 - $649,000
$390,001 - $519,000
$259,001 - $390,000
$130,001 - $259,000
$65,001 - $130,000
$0 - $65,000
4.4%
4.4%
6.8%
6.8%
17.7%
17.7%
18.2%
18.2%
22.0%
22.0%
16.9%
16.9%
12.0%
12.0%
1.0%
1.0%
1.1%
1.1%
0% 100.0%
% of Homes
Very High

for Michigan

Very High

for nation

Number of Homes And Apartments:

49,661

Ann Arbor Appreciation Rates

Rent & Ownership

Average Market Rent:

$2,215 / per month

Homeownership Rate

Owners
Renters
Vacant
40.7%
40.7%
59.3%
59.3%
6.2%
6.2%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
11.0%
11.0%
39.9%
39.9%
34.1%
34.1%
15.0%
15.0%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
41.9%
41.9%
9.6%
9.6%
10.6%
10.6%
37.6%
37.6%
0.3%
0.3%
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
4.3%
4.3%
17.0%
17.0%
30.2%
30.2%
26.6%
26.6%
16.3%
16.3%
5.5%
5.5%
0% 100.0%
% of Homes