Dearborn, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



Map Loading GIF Please wait, loading your map...

Highest
Lowest




Dearborn, 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 Q4 2018. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

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

Dearborn Housing Market Information

With 94,491 people, 30,814 houses or apartments, and a median cost of homes of $155,088, 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 74.07% of the city's housing units. Other types of housing that are prevalent in Dearborn include large apartment complexes or high rise apartments ( 12.16%), duplexes, homes converted to apartments or other small apartment buildings ( 8.83%), and a few row houses and other attached homes ( 4.51%).

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 65.90% of Dearborn's homes, and 62.65% 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 58.51% of the city's housing hails from this era. Other housing ages represented in Dearborn include homes built before 1939 ( 23.33%) and housing constructed between 1970-1999 ( 15.19%). There's also some housing in Dearborn built between 2000 and later ( 2.96%).

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 33.09% over the last ten years, which is an average annual home appreciation rate of 2.90%, putting Dearborn in the top 20% 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.

Appreciation rates are so strong in Dearborn that despite a nationwide downturn in the housing market, Dearborn real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Dearborn appreciation rates continue to be some of the highest in America, at 8.62%, which is higher than appreciation rates in 84.82% 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. Dearborn appreciation rates in the latest quarter were at 2.35%, which equates to an annual appreciation rate of 9.74%.

Relative to Michigan, our data show that Dearborn'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 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:
$155,088

Dearborn, MI HOME PRICES

Value Range
> $1,296,000 0.0
$973,001 - $1,296,000 0.6
$648,001 - $973,000 0.9
$519,001 - $648,000 1.1
$389,001 - $519,000 3.8
$259,001 - $389,000 11.4
$130,001 - $259,000 46.7
$65,001 - $130,000 28.5
$0 - $65,000 7.0

Average for MI
Average for Nation

Value Relative to Nation Value Relative to State
54.6978102189781 43.5897435897436

Number Of Homes And Apartments:
30,814

Dearborn Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
2018 Q3 - 2018 Q4
Last 12 Months:
2017 Q4 - 2018 Q4
Last 2 Years:
2016 Q4 - 2018 Q4
Last 5 Years:
2013 Q4 - 2018 Q4
Last 10 Years:
2008 Q4 - 2018 Q4
Since 2000:
2000 Q1 - 2018 Q4
4.22% 0.22%
2
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,379 / per month

Homeownership Rate

Homeownership
Owners 65.90
Renters 34.10
Vacant 9.64

Housing Market Details

 

Age of Homes

AGE OF Dearborn HOMES
2000 or Newer 3.0
1970 - 1999 15.2
1940 - 1969 58.5
1939 or Older 23.3

Types of Homes

TYPE OF Dearborn HOMES
Single-Family 74.1
Townhomes 4.5
Small Apt. Buildings 8.8
Apt. Complexes 12.2
Mobile Homes 0.4
Other 0.0

Home Size

SIZE OF Dearborn HOMES
No Bedroom 2.61
1 Bedroom 8.30
2 Bedrooms 23.68
3 Bedrooms 47.74
4 Bedrooms 14.91
5 or more bedrooms 2.76