Dearborn Heights, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Dearborn Heights Neighborhoods Since 2000




Dearborn Heights, MI Real Estate Data

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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Dearborn Heights Housing Market Information

With 56,145 people, 20,646 houses or apartments, and a median cost of homes of $120,122, 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 ( 5.54%), duplexes, homes converted to apartments or other small apartment buildings ( 2.97%), and a few mobile homes or trailers ( 1.61%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Dearborn Heights. Owner-occupied housing accounts for 73.25% of Dearborn Heights's homes, and 74.73% 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 78.55% of the city's housing hails from this era. Other housing ages represented in Dearborn Heights include homes built between 1970-1999 ( 14.37%) and housing constructed before 1939 ( 4.87%). There's also some housing in Dearborn Heights built between 2000 and later ( 2.21%).

Dearborn Heights Home Appreciation Rates

Dearborn Heights's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Dearborn Heights during the period has been just -1.77%, which is lower than 80% of US communities.

Appreciation rates are so strong in Dearborn Heights that despite a nationwide downturn in the housing market, Dearborn Heights real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Dearborn Heights appreciation rates continue to be some of the highest in America, at 9.16%, which is higher than appreciation rates in 91.27% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Dearborn Heights. Dearborn Heights appreciation rates in the latest quarter were at 1.86%, which equates to an annual appreciation rate of 7.66%.

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 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 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 2000, to assist you in making the best Dearborn Heights real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$120,122

Dearborn Heights, MI HOME PRICES

Value Range
> $1,374,000 0.1
$1,030,001 - $1,374,000 0.1
$687,001 - $1,030,000 0.7
$550,001 - $687,000 1.0
$412,001 - $550,000 2.0
$275,001 - $412,000 7.3
$137,001 - $275,000 27.8
$69,001 - $137,000 42.3
$0 - $69,000 18.6

Average for MI
Low for Nation

Value Relative to Nation Value Relative to State
65.3404429860541 59.2948717948718

Number Of Homes And Apartments:
20,646

Dearborn Heights Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
-10.12% -0.62% 1 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,281 / per month

Homeownership Rate

Homeownership
Owners 73.25
Renters 26.75
Vacant 7.25

Housing Market Details

 

Age of Homes

AGE OF Dearborn Heights HOMES
2000 or Newer 2.2
1970 - 1999 14.4
1940 - 1969 78.5
1939 or Older 4.9

Types of Homes

TYPE OF Dearborn Heights HOMES
Single-Family 88.3
Townhomes 1.6
Small Apt. Buildings 3.0
Apt. Complexes 5.5
Mobile Homes 1.6
Other 0.0

Home Size

SIZE OF Dearborn Heights HOMES
No Bedroom 0.41
1 Bedroom 4.94
2 Bedrooms 18.08
3 Bedrooms 65.06
4 Bedrooms 9.67
5 or more bedrooms 1.84