Dearborn, 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 Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

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

Dearborn, MI Housing Market Trends

With 93,932 people, 30,596 houses or apartments, and a median cost of homes of $177,487, Dearborn real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Dearborn, accounting for 74.24% of the city's housing units. Other types of housing that are prevalent in Dearborn include large apartment complexes or high rise apartments ( 12.03%), duplexes, homes converted to apartments or other small apartment buildings ( 8.91%), and a few row houses and other attached homes ( 4.31%).

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. Owner-occupied housing accounts for 66.09% of Dearborn's homes, and 62.73% 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's housing was primarily built during this period, from the '40s through the '60s. A full 56.88% of the city's housing hails from this era. Other housing ages represented in Dearborn include homes built before 1939 ( 23.15%) and housing constructed between 1970-1999 ( 15.63%). There's also some housing in Dearborn built between 2000 and later ( 4.34%).

Dearborn Home Appreciation Rates

In the last 10 years, Dearborn has experienced some of the highest home appreciation rates of any community in the nation. Dearborn real estate appreciated 131.22% over the last ten years, which is an average annual home appreciation rate of 8.74%, putting Dearborn in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Dearborn definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Dearborn's appreciation rate, at 10.04%, has been at or slightly above the national average. In the latest quarter, Dearborn's appreciation rate has been 2.98%, which annualizes to a rate of 12.45%.

Relative to Michigan, our data show that Dearborn's latest annual appreciation rate is higher than 50% 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 differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Dearborn - 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 real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$177,487

Dearborn, MI HOME PRICES

> $1,316,000
0.1%
0.1%
$987,001 - $1,316,000
0.7%
0.7%
$658,001 - $987,000
1.2%
1.2%
$527,001 - $658,000
1.2%
1.2%
$395,001 - $527,000
3.8%
3.8%
$263,001 - $395,000
15.8%
15.8%
$132,001 - $263,000
52.7%
52.7%
$66,001 - $132,000
20.7%
20.7%
$0 - $66,000
3.6%
3.6%
0.0% 100.0%
% OF HOMES
Value Relative To State

Average for Nation

Average for MI

Value Relative To Nation

Number Of Homes And Apartments:
30,596

Dearborn Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
24.55% 1.03%
2
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,493 / per month

Homeownership Rate

Owners
66.1%
66.1%
Renters
33.9%
33.9%
Vacant
9.6%
9.6%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
4.3%
4.3%
1970 - 1999
15.6%
15.6%
1940 - 1969
56.9%
56.9%
1939 or Older
23.1%
23.1%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
74.2%
74.2%
Townhomes
4.3%
4.3%
Small Apt. Buildings
8.9%
8.9%
Apt. Complexes
12.0%
12.0%
Mobile Homes
0.5%
0.5%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
2.4%
2.4%
1 Bedroom
8.8%
8.8%
2 Bedrooms
22.9%
22.9%
3 Bedrooms
48.4%
48.4%
4 Bedrooms
14.3%
14.3%
5 or more bedrooms
3.1%
3.1%
0.0% 100.0%
% OF HOMES