Dearborn MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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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 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

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

Dearborn Housing Market Information

With 94,333 people, 1,368 houses or apartments, and a median cost of homes of $159,211, 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 73.35% of the city's housing units. Other types of housing that are prevalent in Dearborn include duplexes, homes converted to apartments or other small apartment buildings ( 11.08%), large apartment complexes or high rise apartments ( 10.90%), and a few row houses and other attached homes ( 4.13%).

The most prevalent building size and type in Dearborn are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 63.98% owning and 36.02% renting.

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 54.52% of the city's housing hails from this era. Other housing ages represented in Dearborn include homes built before 1939 ( 26.60%) and housing constructed between 1970-1999 ( 15.10%). There's also some housing in Dearborn built between 2000 and later ( 3.78%).

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 77.45% over the last ten years, which is an average annual home appreciation rate of 5.90%, 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.

Over the last year, Dearborn appreciation rates have trailed the rest of the nation. In the last twelve months, Dearborn's appreciation rate has been 3.64%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Dearborn were at 0.60%, which equates to an annual appreciation rate of 2.42%.

Relative to Michigan, our data show that Dearborn'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 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:
$159,211

Dearborn, MI HOME PRICES

Value Range
> $1,224,000 0.1
$918,001 - $1,224,000 0.6
$612,001 - $918,000 1.1
$490,001 - $612,000 1.1
$367,001 - $490,000 3.8
$245,001 - $367,000 13.5
$122,001 - $245,000 49.9
$61,001 - $122,000 25.3
$0 - $61,000 4.7

Average for MI
Average for Nation

Value Relative to Nation Value Relative to State
55.1357664233577 45.8333333333333

Number Of Homes And Apartments:
1,368

Dearborn Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
2019 Q3 - 2019 Q4
Last 12 Months:
2018 Q4 - 2019 Q4
Last 2 Years:
2017 Q4 - 2019 Q4
Last 5 Years:
2014 Q4 - 2019 Q4
Last 10 Years:
2009 Q4 - 2019 Q4
Since 2000:
2000 Q1 - 2019 Q4
8.35% 0.40%
2
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,344 / per month

Homeownership Rate

Homeownership
Owners 63.98
Renters 36.02
Vacant 9.19

Housing Market Details

 

Age of Homes

AGE OF Dearborn HOMES
2000 or Newer 3.8
1970 - 1999 15.1
1940 - 1969 54.5
1939 or Older 26.6

Types of Homes

TYPE OF Dearborn HOMES
Single-Family 73.3
Townhomes 4.1
Small Apt. Buildings 11.1
Apt. Complexes 10.9
Mobile Homes 0.5
Other 0.0

Home Size

SIZE OF Dearborn HOMES
No Bedroom 2.61
1 Bedroom 8.20
2 Bedrooms 23.87
3 Bedrooms 46.32
4 Bedrooms 15.71
5 or more bedrooms 3.29