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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With 95,171 people, 31,502 houses or apartments, and a median cost of homes of $129,977, house prices in Dearborn are solidly below the national average.
Single-family detached homes are the single most common housing type in Dearborn, accounting for 74.22% of the city's housing units. Other types of housing that are prevalent in Dearborn include large apartment complexes or high rise apartments ( 12.18%), duplexes, homes converted to apartments or other small apartment buildings ( 8.65%), 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 67.07% of Dearborn's homes, and 61.48% 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 59.10% of the city's housing hails from this era. Other housing ages represented in Dearborn include homes built before 1939 ( 24.14%) and housing constructed between 1970-1999 ( 14.11%). There's also some housing in Dearborn built between 2000 and later ( 2.65%).
Dearborn's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Dearborn during the period has been just -1.57%, which is lower than 80% of US communities.
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 9.53%, which is higher than appreciation rates in 92.43% 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 1.86%, which equates to an annual appreciation rate of 7.66%.
Importantly, this makes Dearborn 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'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.
|$1,048,001 - $1,398,000||0.2|
|$698,001 - $1,048,000||0.8|
|$559,001 - $698,000||0.9|
|$419,001 - $559,000||3.1|
|$280,001 - $419,000||7.7|
|$140,001 - $280,000||37.9|
|$70,001 - $140,000||36.8|
|$0 - $70,000||12.4|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Dearborn HOMES|
|2000 or Newer||2.7|
|1970 - 1999||14.1|
|1940 - 1969||59.1|
|1939 or Older||24.1|
|TYPE OF Dearborn HOMES|
|Small Apt. Buildings||8.6|
|SIZE OF Dearborn HOMES|
|5 or more bedrooms||2.78|